Donald Mcclymont Sells 65,754 Shares of indie Semiconductor, Inc. (NASDAQ:INDI) Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CEO Donald Mcclymont sold 65,754 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $2.90, for a total value of $190,686.60. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is available at 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 transaction of $215,500.00.

indie Semiconductor Stock Performance

INDI traded down $0.19 during trading on Monday, hitting $2.74. 3,668,021 shares of the stock were exchanged, compared to its average volume of 4,165,887. The stock has a fifty day moving average price of $3.89 and a two-hundred day moving average price of $3.99. indie Semiconductor, Inc. has a 1-year low of $2.43 and a 1-year high of $7.82. The company has a quick ratio of 1.87, a current ratio of 2.39 and a debt-to-equity ratio of 0.32. The firm has a market capitalization of $553.25 million, a P/E ratio of -3.61 and a beta of 1.54.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings data on Thursday, February 20th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The firm had revenue of $58.01 million during the quarter, compared to analyst estimates of $58.20 million. indie Semiconductor had a negative net margin of 61.59% and a negative return on equity of 28.08%. As a group, sell-side analysts predict that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Benchmark reduced their price objective on indie Semiconductor from $9.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. UBS Group began coverage on indie Semiconductor in a report on Friday, January 24th. They set a “neutral” rating and a $4.50 price target on the stock. Finally, KeyCorp decreased their price objective on indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, indie Semiconductor presently has a consensus rating of “Moderate Buy” and an average target price of $7.50.

Hedge Funds Weigh In On indie Semiconductor

Several hedge funds have recently bought and sold shares of INDI. National Bank of Canada FI grew its stake in indie Semiconductor by 42.7% in the 4th quarter. National Bank of Canada FI now owns 13,452 shares of the company’s stock worth $54,000 after acquiring an additional 4,023 shares during the period. ArrowMark Colorado Holdings LLC purchased a new stake in shares of indie Semiconductor during the fourth quarter valued at approximately $55,000. Regal Investment Advisors LLC lifted its holdings in indie Semiconductor by 39.2% in the 4th quarter. Regal Investment Advisors LLC now owns 14,174 shares of the company’s stock worth $57,000 after buying an additional 3,988 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of indie Semiconductor during the 3rd quarter valued at approximately $58,000. Finally, Daiwa Securities Group Inc. raised its stake in indie Semiconductor by 74.6% during the fourth quarter. Daiwa Securities Group Inc. now owns 14,897 shares of the company’s stock valued at $60,000 after buying an additional 6,363 shares in the last quarter. 67.73% of the stock is owned by hedge funds and other 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.