indie Semiconductor, Inc. (NASDAQ:INDI) CEO Donald Mcclymont Sells 50,000 Shares

indie Semiconductor, Inc. (NASDAQ:INDI – Get Rating) CEO Donald Mcclymont sold 50,000 shares of indie Semiconductor stock in a transaction on Friday, March 10th. The stock was sold at an average price of $10.19, for a total transaction of $509,500.00. Following the completion of the transaction, the chief executive officer now owns 4,298 shares in the company, valued at approximately $43,796.62. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Friday, February 17th, Donald Mcclymont sold 100,000 shares of indie Semiconductor stock. The stock was sold at an average price of $10.04, for a total transaction of $1,004,000.00.
• On Tuesday, January 10th, Donald Mcclymont sold 50,000 shares of indie Semiconductor stock. The shares were sold at an average price of $6.53, for a total transaction of $326,500.00.

indie Semiconductor Price Performance

Shares of indie Semiconductor stock opened at $10.65 on Wednesday. indie Semiconductor, Inc. has a 52 week low of $5.07 and a 52 week high of $11.12. The company has a quick ratio of 3.30, a current ratio of 3.51 and a debt-to-equity ratio of 0.02. The company has a 50 day moving average price of $8.51 and a 200 day moving average price of $7.90.

indie Semiconductor (NASDAQ:INDI – Get Rating) last posted its earnings results on Thursday, February 16th. The company reported ($0.10) earnings per share for the quarter, missing the consensus estimate of ($0.09) by ($0.01). The firm had revenue of $33.00 million for the quarter, compared to analysts’ expectations of $32.92 million. indie Semiconductor had a negative net margin of 44.45% and a negative return on equity of 19.59%. indie Semiconductor’s revenue for the quarter was up 74.1% compared to the same quarter last year. During the same period last year, the firm earned ($0.09) earnings per share. As a group, equities research analysts predict that indie Semiconductor, Inc. will post -0.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of indie Semiconductor from $10.00 to $15.00 in a report on Friday, February 17th. Craig Hallum dropped their target price on shares of indie Semiconductor to $14.00 in a research report on Wednesday, November 16th. B. Riley upped their price target on shares of indie Semiconductor from $13.00 to $14.00 in a research note on Friday, February 17th. TheStreet raised shares of indie Semiconductor from a “d” rating to a “c-” rating in a research note on Thursday, February 16th. Finally, KeyCorp increased their target price on shares of indie Semiconductor from $10.00 to $12.00 and gave the company an “overweight” rating in a research note on Friday, February 17th. Four analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, indie Semiconductor presently has a consensus rating of “Buy” and an average price target of $14.40.

Institutional Investors Weigh In On indie Semiconductor

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Granahan Investment Management LLC raised its holdings in indie Semiconductor by 61.4% in the 4th quarter. Granahan Investment Management LLC now owns 7,290,449 shares of the company’s stock valued at $42,503,000 after buying an additional 2,772,585 shares during the period. Lord Abbett & CO. LLC grew its position in shares of indie Semiconductor by 81.2% during the fourth quarter. Lord Abbett & CO. LLC now owns 5,654,768 shares of the company’s stock worth $32,967,000 after buying an additional 2,533,293 shares in the last quarter. Light Street Capital Management LLC acquired a new position in shares of indie Semiconductor during the third quarter worth about $12,130,000. AIGH Capital Management LLC boosted its holdings in indie Semiconductor by 110.5% in the fourth quarter. AIGH Capital Management LLC now owns 3,058,243 shares of the company’s stock valued at $17,830,000 after purchasing an additional 1,605,477 shares in the last quarter. Finally, State Street Corp boosted its holdings in indie Semiconductor by 43.8% in the first quarter. State Street Corp now owns 5,111,719 shares of the company’s stock valued at $39,923,000 after purchasing an additional 1,556,028 shares in the last quarter. Institutional investors and hedge funds own 45.44% of the company’s stock.

indie Semiconductor Company Profile

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indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, connected car, user experience, and electrification applications. It offers devices for a multitude of automotive applications spanning ultrasound for parking assistance, in cabin wireless charging, infotainment and LED lighting for enhancing the user experience, and telematics and cloud access for connectivity; and photonic components on various technology platforms, including fiber bragg gratings, low noise lasers, athermal and tunable packaging, photonic integration, and low noise and high-speed electronics for the laser systems, optical sensing, and optical communication markets.