Key Points
- CEO Donald McClymont sold 50,000 INDI shares on March 25 at $3.06, reducing his stake by 15.04% to 282,393 shares; he has sold 223,601 shares year-to-date for roughly $780,000 in proceeds.
- indie Semiconductor reported flat revenue and a quarterly EPS of ($0.07), has negative margins with analysts forecasting -$0.54 EPS for the year, yet the consensus rating is a Moderate Buy with a $6.45 target amid mixed analyst views.
indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) CEO Donald Mcclymont sold 50,000 shares of indie Semiconductor stock in a transaction on Wednesday, March 25th. The stock was sold at an average price of $3.06, for a total transaction of $153,000.00. Following the completion of the sale, the chief executive officer owned 282,393 shares of the company's stock, valued at approximately $864,122.58. This trade represents a 15.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 stock was 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 value of $304,452.19.
indie Semiconductor Stock Down 1.5%
indie Semiconductor stock opened at $3.19 on Friday. The company has a 50-day simple moving average of $3.46 and a 200-day simple moving average of $3.97. indie Semiconductor, Inc. has a one year low of $1.53 and a one year high of $6.05. The firm has a market capitalization of $713.48 million, a P/E ratio of -4.37 and a beta of 2.55. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.10 and a current ratio of 3.73.
indie Semiconductor (NASDAQ:INDI - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The company reported ($0.07) earnings per share for the quarter, meeting analysts' consensus estimates of ($0.07). The company had revenue of $58.01 million for the quarter, compared to analysts' expectations of $57.11 million. indie Semiconductor had a negative return on equity of 29.33% and a negative net margin of 66.23%.The business's revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.07) earnings per share. As a group, equities analysts expect that indie Semiconductor, Inc. will post -0.54 earnings per share for the current year.
Wall Street Analyst Weigh In
INDI has been the topic of a number of research analyst reports. Wall Street Zen lowered indie Semiconductor from a "hold" rating to a "sell" rating in a report on Saturday, December 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of indie Semiconductor in a research report on Thursday, January 22nd. Finally, UBS Group set a $4.25 price target on shares of indie Semiconductor in a report on Sunday, February 22nd. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, indie Semiconductor presently has a consensus rating of "Moderate Buy" and a consensus target price of $6.45.
Get Our Latest Stock Report on indie Semiconductor
Hedge Funds Weigh In On indie Semiconductor
Several large investors have recently made changes to their positions in INDI. Primecap Management Co. CA boosted its position in shares of indie Semiconductor by 3.0% in the fourth quarter. Primecap Management Co. CA now owns 29,774,708 shares of the company's stock valued at $105,105,000 after acquiring an additional 873,940 shares during the period. Bamco Inc. NY increased its stake in indie Semiconductor by 23.5% in the second quarter. Bamco Inc. NY now owns 25,294,776 shares of the company's stock valued at $90,049,000 after acquiring an additional 4,813,397 shares during the period. Frontier Capital Management Co. LLC raised its holdings in shares of indie Semiconductor by 29.9% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 17,960,663 shares of the company's stock worth $63,940,000 after buying an additional 4,139,349 shares in the last quarter. Vanguard Group Inc. raised its stake in indie Semiconductor by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 15,493,648 shares of the company's stock worth $54,693,000 after acquiring an additional 210,463 shares in the last quarter. Finally, Elemental Capital Partners LLC lifted its holdings in 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 purchasing an additional 291,111 shares during the last quarter. Institutional investors and hedge funds own 67.73% of the company's stock.
About indie Semiconductor
(
Get Free Report)
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.
Further Reading
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