Key Points
- CEO Donald McClymont sold 50,000 shares of indie Semiconductor at an average price of $3.11, generating $155,500. He retained 481,026 shares, with the sale reducing his ownership by 9.42%.
- Indie Semiconductor reported quarterly revenue of $64.01 million, up 24% year over year, while posting a loss of $0.05 per share. The company continues to have negative profitability metrics, including a net margin of -65.18%.
- Analysts have an average “Hold” rating and a consensus price target of $4.75, compared with the stock’s recent price near $3.13. Institutional investors own approximately 67.73% of the company.
indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) CEO Donald McClymont sold 50,000 shares of indie Semiconductor stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $3.11, for a total transaction of $155,500.00. Following the transaction, the chief executive officer directly owned 481,026 shares of the company's stock, valued at approximately $1,495,990.86. This represents a 9.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Donald Mcclymont also recently made the following trade(s):
- On Wednesday, September 2nd, Donald McClymont sold 13,384 shares of indie Semiconductor stock. The stock was sold at an average price of $3.53, for a total transaction of $47,245.52.
- On Monday, August 31st, Donald McClymont sold 46,928 shares of indie Semiconductor stock. The shares were sold at an average price of $3.72, for a total value of $174,572.16.
- On Thursday, July 2nd, Donald McClymont sold 126,496 shares of indie Semiconductor stock. The stock was sold at an average price of $4.45, for a total value of $562,907.20.
indie Semiconductor Price Performance
Shares of INDI stock opened at $3.13 on Friday. The stock has a 50 day moving average price of $3.71 and a 200 day moving average price of $3.72. indie Semiconductor, Inc. has a 52-week low of $2.32 and a 52-week high of $6.05. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.86 and a current ratio of 3.65. The firm has a market capitalization of $725.56 million, a P/E ratio of -4.29 and a beta of 2.78.
indie Semiconductor (NASDAQ:INDI - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.05). The business had revenue of $64.01 million for the quarter, compared to analyst estimates of $62.49 million. indie Semiconductor had a negative return on equity of 32.02% and a negative net margin of 65.18%.The business's revenue was up 24.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.08) earnings per share. As a group, sell-side analysts predict that indie Semiconductor, Inc. will post -0.53 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on INDI shares. TD Cowen raised their target price on shares of indie Semiconductor from $4.00 to $4.50 and gave the stock a "hold" rating in a research report on Monday, July 13th. Roth Capital set a $5.00 price objective on indie Semiconductor in a report on Friday, August 7th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of indie Semiconductor in a research report on Friday, July 17th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $4.75.
View Our Latest Analysis on INDI
Institutional Investors Weigh In On indie Semiconductor
Several large investors have recently modified their holdings of the business. PNC Financial Services Group Inc. boosted its stake in indie Semiconductor by 37.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 28,199 shares of the company's stock worth $91,000 after purchasing an additional 7,724 shares in the last quarter. Bank of America Corp DE increased its stake in indie Semiconductor by 0.9% during the 1st quarter. Bank of America Corp DE now owns 875,146 shares of the company's stock valued at $2,818,000 after purchasing an additional 7,875 shares in the last quarter. Optiver Holding B.V. raised its holdings in shares of indie Semiconductor by 7,163.7% in the first quarter. Optiver Holding B.V. now owns 8,208 shares of the company's stock worth $26,000 after buying an additional 8,095 shares during the last quarter. Swiss National Bank lifted its stake in shares of indie Semiconductor by 2.4% during the first quarter. Swiss National Bank now owns 400,900 shares of the company's stock worth $1,291,000 after buying an additional 9,400 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of indie Semiconductor during the second quarter worth $49,000. Institutional investors own 67.73% of the company's stock.
indie Semiconductor Company Profile
(
Get Free Report)
indie Semiconductor, Inc develops semiconductor and software solutions for the automotive industry. Its technology is designed to support advanced driver-assistance systems (ADAS), autonomous-driving applications, vehicle connectivity, and in-cabin user experiences.
The company's product portfolio includes radar and lidar components, computer-vision processors, automotive imaging solutions, wireless connectivity products, audio and voice-processing technologies, and power-management devices.
Further Reading
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