Insider Selling: indie Semiconductor, Inc. (NASDAQ:INDI) CEO Sells $942,000.00 in Stock

indie Semiconductor, Inc. (NASDAQ:INDI) CEO Donald Mcclymont sold 200,000 shares of indie Semiconductor stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $4.71, for a total value of $942,000.00. Following the sale, the chief executive officer now owns 18,351 shares of the company’s stock, valued at approximately $86,433.21. This trade represents a 91.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

indie Semiconductor Price Performance

Shares of INDI stock opened at $4.46 on Friday. indie Semiconductor, Inc. has a fifty-two week low of $3.16 and a fifty-two week high of $8.69. The firm has a market capitalization of $880.48 million, a price-to-earnings ratio of -6.66 and a beta of 1.22. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.20 and a current ratio of 2.39. The stock’s 50-day simple moving average is $3.78 and its 200-day simple moving average is $5.11.

Institutional Investors Weigh In On indie Semiconductor

A number of large investors have recently modified their holdings of the business. ProShare Advisors LLC boosted its position in indie Semiconductor by 8.5% in the first quarter. ProShare Advisors LLC now owns 27,071 shares of the company’s stock valued at $192,000 after buying an additional 2,131 shares during the last quarter. GAMMA Investing LLC boosted its position in indie Semiconductor by 1,743.8% in the second quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock valued at $25,000 after buying an additional 3,906 shares during the last quarter. Wealth Effects LLC lifted its holdings in indie Semiconductor by 2.8% in the second quarter. Wealth Effects LLC now owns 170,700 shares of the company’s stock valued at $1,053,000 after acquiring an additional 4,600 shares during the period. Register Financial Advisors LLC lifted its holdings in indie Semiconductor by 3.7% in the second quarter. Register Financial Advisors LLC now owns 138,440 shares of the company’s stock valued at $854,000 after acquiring an additional 5,000 shares during the period. Finally, Tempus Wealth Planning LLC lifted its holdings in indie Semiconductor by 30.6% in the second quarter. Tempus Wealth Planning LLC now owns 22,353 shares of the company’s stock valued at $138,000 after acquiring an additional 5,238 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on INDI shares. Deutsche Bank Aktiengesellschaft decreased their price objective on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a report on Friday, August 9th. Benchmark cut their target price on indie Semiconductor from $12.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th. Finally, Roth Mkm cut their target price on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating on the stock in a research note on Friday, November 8th. Seven analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $9.79.

indie Semiconductor Company Profile

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.