Key Points
- CEO Donald Mcclymont sold 50,000 shares of indie Semiconductor on June 15 at an average price of $4.19, totaling $209,500. After the sale, he directly owned 307,363 shares, a 13.99% reduction in his position.
- indie Semiconductor recently reported mixed quarterly results, matching earnings expectations at a loss of $0.06 per share and slightly beating revenue estimates with $55.46 million in sales, up 2.5% year over year.
- Analyst sentiment remains cautious: the stock currently has a consensus “Hold” rating and an average price target of $6.19, with recent firms issuing neutral or hold calls and one reiterating a sell rating.
indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) CEO Donald Mcclymont sold 50,000 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $4.19, for a total transaction of $209,500.00. Following the completion of the transaction, the chief executive officer directly owned 307,363 shares in the company, valued at $1,287,850.97. This represents a 13.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Donald Mcclymont also recently made the following trade(s):
- On Tuesday, June 2nd, Donald Mcclymont sold 9,425 shares of indie Semiconductor stock. The shares were sold at an average price of $5.12, for a total value of $48,256.00.
- 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 value 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 value of $153,000.00.
indie Semiconductor Stock Performance
Shares of NASDAQ INDI opened at $3.93 on Thursday. indie Semiconductor, Inc. has a 12-month low of $2.32 and a 12-month high of $6.05. The company has a market cap of $891.73 million, a price-to-earnings ratio of -5.17 and a beta of 2.73. 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 stock's 50 day simple moving average is $4.06 and its 200 day simple moving average is $3.79.
indie Semiconductor (NASDAQ:INDI - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.06) earnings per share for the quarter, hitting the consensus estimate of ($0.06). The firm had revenue of $55.46 million for the quarter, compared to analyst estimates of $55.09 million. indie Semiconductor had a negative return on equity of 29.85% and a negative net margin of 69.76%.The firm's revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the company earned ($0.08) earnings per share. Equities research analysts expect that indie Semiconductor, Inc. will post -0.52 EPS for the current year.
Analyst Upgrades and Downgrades
INDI has been the topic of a number of recent analyst reports. UBS Group lifted their price target on indie Semiconductor from $4.25 to $4.75 and gave the company a "neutral" rating in a report on Friday, May 8th. Wall Street Zen upgraded indie Semiconductor from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. TD Cowen began coverage on indie Semiconductor in a research note on Wednesday, June 10th. They set a "hold" rating and a $4.00 target price on the stock. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of indie Semiconductor in a research report on Tuesday, April 21st. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $6.19.
Check Out Our Latest Analysis on indie Semiconductor
Institutional Trading of indie Semiconductor
A number of hedge funds and other institutional investors have recently made changes to their positions in INDI. Royal Bank of Canada lifted its stake in shares of indie Semiconductor by 309.7% in the 1st quarter. Royal Bank of Canada now owns 551,007 shares of the company's stock worth $1,122,000 after acquiring an additional 416,519 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of indie Semiconductor by 42.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,002,253 shares of the company's stock valued at $2,040,000 after acquiring an additional 298,339 shares during the period. Millennium Management LLC raised its holdings in indie Semiconductor by 456.6% during the first quarter. Millennium Management LLC now owns 3,702,671 shares of the company's stock worth $7,535,000 after purchasing an additional 3,037,435 shares in the last quarter. JPMorgan Chase & Co. lifted its position in indie Semiconductor by 5.6% in the second quarter. JPMorgan Chase & Co. now owns 255,322 shares of the company's stock worth $909,000 after purchasing an additional 13,495 shares during the period. Finally, Rhumbline Advisers lifted its position in indie Semiconductor by 24.3% in the second quarter. Rhumbline Advisers now owns 299,275 shares of the company's stock worth $1,065,000 after purchasing an additional 58,473 shares during the period. 67.73% of the stock is currently owned by institutional investors.
indie Semiconductor Company Profile
(
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.
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