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Donald McClymont, the Chief Executive Officer of indie Semiconductor, Inc. (NASDAQ:INDI), recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission. On February 27, McClymont sold 50,000 shares of Class A Common Stock at a weighted average price of $3.12 per share, totaling $156,000. This sale was part of a pre-arranged trading plan under Rule 10b5-1, which McClymont adopted in March 2022 and later modified. The transaction comes as INDI shares trade near their 52-week low of $2.66, having declined about 60% over the past year. According to InvestingPro analysis, the stock appears undervalued at its current price of $2.77.
Additionally, the filing reported the conversion of 50,000 ADK Class A Units into Class A Common Stock, which did not involve any cash transaction. These conversions resulted in the cancellation of an equivalent number of Class V Common Stock shares.
Following these transactions, McClymont holds 65,932 shares of Class A Common Stock directly, with an additional 68,115 shares held indirectly by his spouse.
In other recent news, Indie Semiconductor Inc reported its fourth-quarter 2024 earnings, with an earnings per share (EPS) of -$0.07, meeting analyst expectations. However, the company reported revenue of $58 million, slightly missing the projected $58.04 million. Despite these results, the company continues to focus on product innovation within the automotive semiconductor market. Indie Semiconductor has initiated measures to improve operational efficiency, achieving a quarterly expense reduction of $2 million. For the first quarter of 2025, the company projects revenue between $52.5 million and $57.5 million, with expected gross margins of 49-50%. Analysts at KeyBanc Capital Markets adjusted their outlook on the company, reducing the price target from $8.00 to $7.00, citing ongoing macroeconomic challenges. Nevertheless, KeyBanc maintained an Overweight rating, indicating continued confidence in the company’s long-term growth prospects. The company faces challenges due to tariffs and weaker demand, particularly in Europe, but remains optimistic about its strategic positioning in the automotive market.
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