Insider Selling: indie Semiconductor, Inc. (NASDAQ:INDI) CEO Sells 65,754 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CEO Donald Mcclymont sold 65,754 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $2.90, for a total transaction of $190,686.60. Following the transaction, the chief executive officer now directly owns 246,535 shares of the company’s stock, valued at $714,951.50. The trade was a 21.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, February 27th, Donald Mcclymont sold 50,000 shares of indie Semiconductor stock. The stock was sold at an average price of $3.12, for a total transaction of $156,000.00.
• On Monday, December 16th, Donald Mcclymont sold 50,000 shares of indie Semiconductor stock. The shares were sold at an average price of $4.31, for a total value of $215,500.00.

indie Semiconductor Stock Performance

NASDAQ:INDI opened at $2.57 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39. The stock has a 50-day simple moving average of $3.83 and a two-hundred day simple moving average of $3.97. The firm has a market capitalization of $518.92 million, a PE ratio of -3.38 and a beta of 1.54. indie Semiconductor, Inc. has a 52-week low of $2.43 and a 52-week high of $7.82.

indie Semiconductor (NASDAQ:INDI) last released its earnings results on Thursday, February 20th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.07) by ($0.08). indie Semiconductor had a negative return on equity of 28.08% and a negative net margin of 61.59%. The firm had revenue of $58.01 million during the quarter, compared to analysts’ expectations of $58.20 million. Analysts forecast that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on INDI shares. KeyCorp reduced their price objective on indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Benchmark reduced their price target on shares of indie Semiconductor from $9.00 to $8.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Finally, UBS Group started coverage on shares of indie Semiconductor in a research note on Friday, January 24th. They issued a “neutral” rating and a $4.50 price objective on the stock. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $7.50.

Institutional Trading of indie Semiconductor

Several institutional investors and hedge funds have recently modified their holdings of the company. American Trust boosted its holdings in indie Semiconductor by 20.3% in the 4th quarter. American Trust now owns 34,845 shares of the company’s stock worth $141,000 after buying an additional 5,869 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of indie Semiconductor by 14.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,954 shares of the company’s stock valued at $1,069,000 after acquiring an additional 32,979 shares in the last quarter. Two Sigma Investments LP bought a new position in shares of indie Semiconductor in the fourth quarter worth about $386,000. ProShare Advisors LLC grew its position in shares of indie Semiconductor by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 46,197 shares of the company’s stock worth $187,000 after purchasing an additional 15,202 shares in the last quarter. Finally, Meros Investment Management LP grew its position in shares of indie Semiconductor by 43.4% during the fourth quarter. Meros Investment Management LP now owns 1,240,949 shares of the company’s stock worth $5,026,000 after purchasing an additional 375,624 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors.

About indie Semiconductor

indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, autonomous vehicle, in-cabin, connected car, and electrification applications in the United States, South America, rest of North America, Greater China, South Korea, rest of the Asia Pacific, and Europe.