Insider Selling: indie Semiconductor, Inc. (NASDAQ:INDI) CEO Sells 50,000 Shares of Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CEO Donald Mcclymont sold 50,000 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $3.12, for a total transaction of $156,000.00. Following the sale, the chief executive officer now directly owns 65,932 shares in the company, valued at $205,707.84. This trade represents a 43.13 % decrease in their ownership of the stock. The transaction 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 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 Trading Down 5.4 %

INDI opened at $2.62 on Wednesday. The firm’s fifty day moving average is $4.00 and its two-hundred day moving average is $4.02. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.87 and a current ratio of 2.39. The firm has a market cap of $529.02 million, a PE ratio of -3.45 and a beta of 1.41. indie Semiconductor, Inc. has a twelve month low of $2.43 and a twelve month high of $7.82.

indie Semiconductor (NASDAQ:INDI) last posted its earnings results on Thursday, February 20th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate 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 return on equity of 28.08% and a negative net margin of 61.59%. Equities research analysts anticipate that indie Semiconductor, Inc. will post -0.54 EPS for the current year.

Institutional Investors Weigh In On indie Semiconductor

Several hedge funds have recently bought and sold shares of the company. Primecap Management Co. CA raised its holdings in indie Semiconductor by 3.2% in the fourth quarter. Primecap Management Co. CA now owns 26,287,766 shares of the company’s stock worth $106,465,000 after purchasing an additional 819,321 shares during the period. Bamco Inc. NY increased its position in shares of indie Semiconductor by 30.6% during the fourth quarter. Bamco Inc. NY now owns 19,901,826 shares of the company’s stock worth $80,602,000 after acquiring an additional 4,661,220 shares in the last quarter. Frontier Capital Management Co. LLC increased its position in shares of indie Semiconductor by 60.0% during the fourth quarter. Frontier Capital Management Co. LLC now owns 17,374,268 shares of the company’s stock worth $70,366,000 after acquiring an additional 6,517,978 shares in the last quarter. Vanguard Group Inc. increased its position in shares of indie Semiconductor by 8.1% during the fourth quarter. Vanguard Group Inc. now owns 12,585,262 shares of the company’s stock worth $50,970,000 after acquiring an additional 942,088 shares in the last quarter. Finally, State Street Corp increased its position in shares of indie Semiconductor by 2.3% during the third quarter. State Street Corp now owns 7,102,029 shares of the company’s stock worth $28,337,000 after acquiring an additional 161,132 shares in the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

INDI has been the topic of several analyst reports. KeyCorp cut their price objective on shares of indie Semiconductor from $8.00 to $7.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. UBS Group initiated coverage on shares of indie Semiconductor in a report on Friday, January 24th. They issued a “neutral” rating and a $4.50 price objective on the stock. Roth Mkm cut their price objective on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a report on Friday, November 8th. Finally, Benchmark cut their price objective on shares of indie Semiconductor from $9.00 to $8.00 and set a “buy” rating on the stock in a report on Friday, February 21st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, indie Semiconductor presently has an average rating of “Moderate Buy” and a consensus target price of $7.50.

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.