Insider Selling: indie Semiconductor (NASDAQ:INDI) CEO Sells $48,256.00 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CEO Donald Mcclymont sold 9,425 shares of the business’s stock in a transaction on Tuesday, June 2nd. The stock was sold at an average price of $5.12, for a total transaction of $48,256.00. Following the transaction, the chief executive officer owned 307,363 shares of the company’s stock, valued at approximately $1,573,698.56. The trade was a 2.98% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Monday, April 6th, Donald Mcclymont sold 18,420 shares of indie Semiconductor stock. The stock was sold at an average price of $2.99, for a total transaction of $55,075.80.
• On Wednesday, March 25th, Donald Mcclymont sold 50,000 shares of indie Semiconductor stock. The stock was sold at an average price of $3.06, for a total transaction of $153,000.00.

indie Semiconductor Stock Performance

Shares of INDI stock opened at $4.05 on Friday. The company has a current ratio of 4.11, a quick ratio of 3.39 and a debt-to-equity ratio of 1.15. The firm has a fifty day moving average price of $3.91 and a 200 day moving average price of $3.75. The company has a market cap of $918.95 million, a P/E ratio of -5.33 and a beta of 2.73. indie Semiconductor, Inc. has a 12 month low of $2.32 and a 12 month high of $6.05.

indie Semiconductor (NASDAQ:INDI) last issued its earnings results on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). indie Semiconductor had a negative net margin of 69.76% and a negative return on equity of 29.85%. The firm had revenue of $55.46 million during the quarter, compared to the consensus estimate of $55.09 million. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. The company’s revenue was up 2.5% compared to the same quarter last year. Sell-side analysts predict that indie Semiconductor, Inc. will post -0.52 earnings per share for the current fiscal year.

Institutional Trading of indie Semiconductor

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of indie Semiconductor by 9.6% during the 3rd quarter. Vanguard Group Inc. now owns 15,283,185 shares of the company’s stock valued at $62,203,000 after acquiring an additional 1,334,145 shares during the period. ArrowMark Colorado Holdings LLC acquired a new stake in shares of indie Semiconductor during the 3rd quarter valued at approximately $3,931,000. Handelsbanken Fonder AB lifted its position in shares of indie Semiconductor by 1,938.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,579,686 shares of the company’s stock valued at $6,429,000 after acquiring an additional 1,502,175 shares during the period. Tudor Investment Corp ET AL acquired a new stake in shares of indie Semiconductor during the 3rd quarter valued at approximately $22,385,000. Finally, Elemental Capital Partners LLC lifted its position in shares of indie Semiconductor by 3.8% during the 4th quarter. Elemental Capital Partners LLC now owns 7,902,713 shares of the company’s stock valued at $27,897,000 after acquiring an additional 291,111 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on INDI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a research note on Tuesday, April 21st. Wall Street Zen raised indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, UBS Group upped their price objective on indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a research note on Friday, May 8th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $6.92.

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.