Insider Selling: indie Semiconductor (NASDAQ:INDI) CEO Sells 18,420 Shares of Stock

Key Points

• CEO sold 18,420 shares: On April 6 indie Semiconductor CEO Donald McClymont sold 18,420 shares at an average price of $2.99 (worth $55,075.80), reducing his holding by 5.81% to 298,500 shares; he also sold 50,000 shares on Mar 25 and 90,644 shares on Mar 2, signaling continued insider selling.
• Stock and outlook: INDI traded down ~1.7% to $2.89, has negative earnings (negative P/E and EPS), a market cap of ~$646M and a 52-week range of $1.60–$6.05, while analysts hold a "Moderate Buy" consensus with a $6.45 target amid heavy institutional ownership (67.73%) and recent inflows from firms like RBC, Millennium and Mirae.

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) CEO Donald Mcclymont sold 18,420 shares of indie Semiconductor stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $2.99, for a total value of $55,075.80. Following the completion of the sale, the chief executive officer directly owned 298,500 shares in the company, valued at approximately $892,515. This represents a 5.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Donald Mcclymont also recently made the following trade(s):

• On Wednesday, March 25th, Donald Mcclymont sold 50,000 shares of indie Semiconductor stock. The shares were sold at an average price of $3.06, for a total value of $153,000.00.
• On Monday, March 2nd, Donald Mcclymont sold 90,644 shares of indie Semiconductor stock. The shares were sold at an average price of $3.56, for a total value of $322,692.64.

indie Semiconductor Stock Down 1.7%

INDI stock traded down $0.05 during mid-day trading on Tuesday, reaching $2.89. The company had a trading volume of 2,570,369 shares, compared to its average volume of 4,549,985. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.73 and a quick ratio of 3.10. The stock has a 50 day simple moving average of $3.28 and a two-hundred day simple moving average of $3.93. The company has a market capitalization of $646.38 million, a price-to-earnings ratio of -3.96 and a beta of 2.56. indie Semiconductor, Inc. has a 52 week low of $1.60 and a 52 week high of $6.05.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last posted its quarterly earnings results on Thursday, February 19th. The company reported ($0.07) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.07). The firm had revenue of $58.01 million during the quarter, compared to the consensus estimate of $57.11 million. indie Semiconductor had a negative return on equity of 29.33% and a negative net margin of 66.23%.The business's revenue was up .0% compared to the same quarter last year. During the same period last year, the company earned ($0.07) earnings per share. As a group, equities analysts predict that indie Semiconductor, Inc. will post -0.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in INDI. Royal Bank of Canada boosted its stake in shares of indie Semiconductor by 309.7% during the 1st quarter. Royal Bank of Canada now owns 551,007 shares of the company's stock worth $1,122,000 after acquiring an additional 416,519 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of indie Semiconductor by 42.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,002,253 shares of the company's stock worth $2,040,000 after acquiring an additional 298,339 shares during the period. Millennium Management LLC boosted its stake in shares of indie Semiconductor by 456.6% during the 1st quarter. Millennium Management LLC now owns 3,702,671 shares of the company's stock worth $7,535,000 after acquiring an additional 3,037,435 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of indie Semiconductor by 5.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 255,322 shares of the company's stock worth $909,000 after acquiring an additional 13,495 shares during the period. Finally, Rhumbline Advisers boosted its stake in shares of indie Semiconductor by 24.3% during the 2nd quarter. Rhumbline Advisers now owns 299,275 shares of the company's stock worth $1,065,000 after acquiring an additional 58,473 shares during the period. 67.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Wall Street Zen downgraded indie Semiconductor from a "hold" rating to a "sell" rating in a research note on Saturday, December 13th. Weiss Ratings restated a "sell (d-)" rating on shares of indie Semiconductor in a research note on Thursday, January 22nd. Finally, UBS Group set a $4.25 price target on indie Semiconductor in a research note on Sunday, February 22nd. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, indie Semiconductor presently has a consensus rating of "Moderate Buy" and a consensus price target of $6.45.

About indie Semiconductor

indie Semiconductor, Inc is a fabless semiconductor company headquartered in San Jose, California, that specializes in advanced chip solutions for the automotive industry. The company designs and develops microcontrollers, sensor processing units, application processors and power management integrated circuits tailored for electric vehicles (EVs), advanced driver assistance systems (ADAS), infotainment and digital clusters. indie's product portfolio aims to deliver high performance, energy efficiency and functional safety to meet stringent automotive requirements.

Originally formed as Integrated Memory Systems in 2021 through a business combination with a special purpose acquisition company, the firm rebranded to indie Semiconductor in early 2022.

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