Donald Mcclymont Sells 50,000 Shares of indie Semiconductor, Inc. (NASDAQ:INDI) Stock

indie Semiconductor, Inc. (NASDAQ:INDIGet Rating) CEO Donald Mcclymont sold 50,000 shares of the business’s stock in a transaction dated Friday, September 16th. The shares were sold at an average price of $8.17, for a total value of $408,500.00. Following the completion of the transaction, the chief executive officer now directly owns 669 shares of the company’s stock, valued at approximately $5,465.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

indie Semiconductor Stock Down 4.7 %

INDI opened at $7.93 on Thursday. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -7.48 and a beta of 0.62. The company has a quick ratio of 3.70, a current ratio of 3.95 and a debt-to-equity ratio of 0.02. The company’s 50-day moving average price is $7.67 and its two-hundred day moving average price is $7.17. indie Semiconductor, Inc. has a twelve month low of $5.07 and a twelve month high of $16.33.

indie Semiconductor (NASDAQ:INDIGet Rating) last issued its quarterly earnings data on Thursday, August 11th. The company reported ($0.11) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. indie Semiconductor had a negative return on equity of 23.08% and a negative net margin of 124.21%. The company had revenue of $25.76 million for the quarter, compared to the consensus estimate of $25.71 million. As a group, equities analysts expect that indie Semiconductor, Inc. will post -0.57 earnings per share for the current year.

Hedge Funds Weigh In On indie Semiconductor

A number of hedge funds and other institutional investors have recently modified their holdings of INDI. State Street Corp lifted its stake in shares of indie Semiconductor by 43.8% in the 1st quarter. State Street Corp now owns 5,111,719 shares of the company’s stock valued at $39,923,000 after acquiring an additional 1,556,028 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of indie Semiconductor in the 1st quarter worth approximately $11,378,000. Vanguard Group Inc. grew its stake in shares of indie Semiconductor by 62.9% in the 1st quarter. Vanguard Group Inc. now owns 3,206,920 shares of the company’s stock worth $25,046,000 after buying an additional 1,238,514 shares during the last quarter. Neuberger Berman Group LLC increased its holdings in shares of indie Semiconductor by 457.6% in the 1st quarter. Neuberger Berman Group LLC now owns 1,394,000 shares of the company’s stock worth $10,888,000 after purchasing an additional 1,144,000 shares in the last quarter. Finally, Voya Investment Management LLC bought a new stake in indie Semiconductor in the 2nd quarter worth about $6,277,000. 34.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on INDI. Deutsche Bank Aktiengesellschaft lowered their price objective on indie Semiconductor from $11.00 to $10.00 in a research note on Wednesday, July 20th. TheStreet raised shares of indie Semiconductor from a “d” rating to a “c-” rating in a research note on Thursday, September 8th. Finally, B. Riley downgraded shares of indie Semiconductor from a “buy” rating to a “neutral” rating and decreased their price target for the company from $9.00 to $8.00 in a research note on Wednesday, June 15th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.25.

indie Semiconductor Company Profile

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indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, connected car, user experience, and electrification applications. It offers devices for a multitude of automotive applications spanning ultrasound for parking assistance, in cabin wireless charging, infotainment and LED lighting for enhancing the user experience, and telematics and cloud access for connectivity; and photonic components on various technology platforms, including fiber bragg gratings, low noise lasers, athermal and tunable packaging, photonic integration, and low noise and high-speed electronics for the laser systems, optical sensing, and optical communication markets.

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