indie Semiconductor, Inc. (NASDAQ:INDI) CEO Donald Mcclymont Sells 200,000 Shares

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

indie Semiconductor Stock Up 4.9 %

NASDAQ INDI traded up $0.22 during trading hours on Friday, hitting $4.68. 797,522 shares of the stock were exchanged, compared to its average volume of 2,890,702. The company has a current ratio of 2.39, a quick ratio of 2.20 and a debt-to-equity ratio of 0.32. indie Semiconductor, Inc. has a 12-month low of $3.16 and a 12-month high of $8.69. The stock has a 50-day moving average of $3.76 and a 200 day moving average of $5.12.

Hedge Funds Weigh In On indie Semiconductor

A number of large investors have recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in indie Semiconductor by 1,743.8% during the second quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock worth $25,000 after acquiring an additional 3,906 shares during the period. Xponance Inc. acquired a new position in shares of indie Semiconductor during the 2nd quarter worth $63,000. Creative Planning purchased a new position in shares of indie Semiconductor in the 3rd quarter valued at about $75,000. Legato Capital Management LLC acquired a new stake in shares of indie Semiconductor in the second quarter valued at about $76,000. Finally, SlateStone Wealth LLC purchased a new stake in indie Semiconductor during the second quarter worth about $82,000. 67.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.