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

indie Semiconductor, Inc. (NASDAQ:INDI) CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction dated Wednesday, March 25th. The stock was sold at an average price of $3.06, for a total value of $153,000.00. Following the transaction, the chief executive officer directly owned 282,393 shares in the company, valued at approximately $864,122.58. The trade was a 15.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• 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.
• On Monday, January 5th, Donald Mcclymont sold 82,957 shares of indie Semiconductor stock. The stock was sold at an average price of $3.67, for a total transaction of $304,452.19.

indie Semiconductor Stock Down 1.5%

Shares of NASDAQ:INDI opened at $3.19 on Friday. The firm has a market capitalization of $713.48 million, a PE ratio of -4.37 and a beta of 2.55. indie Semiconductor, Inc. has a 1 year low of $1.53 and a 1 year high of $6.05. 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 firm’s 50-day moving average is $3.46 and its two-hundred day moving average is $3.97.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings data on Thursday, February 19th. The company reported ($0.07) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.07). indie Semiconductor had a negative net margin of 66.23% and a negative return on equity of 29.33%. The firm had revenue of $58.01 million during the quarter, compared to analysts’ expectations of $57.11 million. During the same quarter in the previous year, the business posted ($0.07) earnings per share. The business’s quarterly revenue was up .0% compared to the same quarter last year. Analysts predict that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

Institutional Trading of indie Semiconductor

Several hedge funds and other institutional investors have recently made changes to their positions in INDI. Elemental Capital Partners LLC acquired a new stake in shares of indie Semiconductor during the 3rd quarter valued at approximately $30,979,000. Vanguard Group Inc. raised its position in shares of indie Semiconductor by 9.6% in the third quarter. Vanguard Group Inc. now owns 15,283,185 shares of the company’s stock valued at $62,203,000 after buying an additional 1,334,145 shares during the last quarter. Handelsbanken Fonder AB purchased a new stake in shares of indie Semiconductor in the second quarter valued at $276,000. Caxton Associates LLP purchased a new stake in indie Semiconductor in the 2nd quarter valued at about $887,000. Finally, Bamco Inc. NY boosted its holdings in shares of indie Semiconductor by 23.5% in the 2nd quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock valued at $90,049,000 after purchasing an additional 4,813,397 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on INDI. UBS Group set a $4.25 price target on shares of indie Semiconductor in a report on Sunday, February 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Thursday, January 22nd. Finally, Wall Street Zen downgraded shares of indie Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.