Insider Selling: indie Semiconductor, Inc. (NASDAQ:INDI) CEO Sells $408,500.00 in Stock

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

indie Semiconductor Price Performance

INDI stock opened at $7.68 on Friday. The firm has a 50 day moving average price of $7.71 and a 200-day moving average price of $7.17. indie Semiconductor, Inc. has a 52-week low of $5.07 and a 52-week high of $16.33. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of -7.25 and a beta of 0.62. The company has a debt-to-equity ratio of 0.02, a quick ratio of 3.70 and a current ratio of 3.95.

indie Semiconductor (NASDAQ:INDIGet Rating) last released its earnings results on Thursday, August 11th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.01. indie Semiconductor had a negative net margin of 124.21% and a negative return on equity of 23.08%. The firm had revenue of $25.76 million during the quarter, compared to analyst estimates of $25.71 million. Equities research analysts forecast that indie Semiconductor, Inc. will post -0.57 EPS for the current fiscal year.

Hedge Funds Weigh In On indie Semiconductor

Several large investors have recently made changes to their positions in INDI. State Street Corp lifted its holdings in shares of indie Semiconductor by 43.8% during the first quarter. State Street Corp now owns 5,111,719 shares of the company’s stock valued at $39,923,000 after purchasing an additional 1,556,028 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in indie Semiconductor in the 1st quarter worth approximately $11,378,000. Vanguard Group Inc. raised its holdings in 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 acquiring an additional 1,238,514 shares during the last quarter. Neuberger Berman Group LLC raised its holdings in 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 acquiring an additional 1,144,000 shares during the last quarter. Finally, Voya Investment Management LLC purchased a new position in indie Semiconductor in the 2nd quarter worth approximately $6,277,000. 34.35% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Further Reading

Insider Buying and Selling by Quarter for indie Semiconductor (NASDAQ:INDI)

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