Traders Purchase High Volume of Call Options on indie Semiconductor (NASDAQ:INDI)

indie Semiconductor, Inc. (NASDAQ:INDI) saw unusually large options trading on Wednesday. Stock investors acquired 2,328 call options on the company. This is an increase of 56% compared to the average volume of 1,488 call options.

indie Semiconductor Stock Performance

INDI stock traded down $0.58 during midday trading on Wednesday, hitting $2.58. The company’s stock had a trading volume of 12,794,787 shares, compared to its average volume of 3,373,754. The stock has a market cap of $566.65 million, a price-to-earnings ratio of -3.53 and a beta of 2.55. The company has a quick ratio of 3.18, a current ratio of 3.75 and a debt-to-equity ratio of 0.86. The stock’s 50-day moving average price is $3.88 and its 200 day moving average price is $4.18. indie Semiconductor has a 1 year low of $1.53 and a 1 year high of $6.05.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings data on Thursday, February 19th. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.07). The business had revenue of $58.01 million for the quarter, compared to analysts’ expectations of $57.11 million. indie Semiconductor had a negative return on equity of 28.81% and a negative net margin of 66.23%.The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.07) EPS. On average, equities analysts forecast that indie Semiconductor will post -0.54 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wall Street Zen downgraded indie Semiconductor from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. UBS Group set a $4.25 target price on indie Semiconductor in a research report on Sunday, February 22nd. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a report on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, indie Semiconductor presently has a consensus rating of “Moderate Buy” and an average price target of $6.45.

Insider Transactions at indie Semiconductor

In other indie Semiconductor news, President Ichiro Aoki sold 7,188 shares of the company’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $3.67, for a total transaction of $26,379.96. Following the transaction, the president owned 94,725 shares in the company, valued at approximately $347,640.75. This represents a 7.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Michael Wittmann sold 37,500 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $3.50, for a total transaction of $131,250.00. Following the completion of the transaction, the chief operating officer directly owned 123,885 shares in the company, valued at $433,597.50. This trade represents a 23.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 394,525 shares of company stock valued at $1,488,975 over the last ninety days. Company insiders own 5.60% of the company’s stock.

Institutional Trading of indie Semiconductor

Hedge funds and other institutional investors have recently bought and sold shares of the company. Elemental Capital Partners LLC purchased a new position in shares of indie Semiconductor in the 3rd quarter worth about $30,979,000. Handelsbanken Fonder AB purchased a new position in shares of indie Semiconductor during the second quarter worth approximately $276,000. Caxton Associates LLP bought a new stake in shares of indie Semiconductor in the 2nd quarter worth approximately $887,000. Bamco Inc. NY grew its holdings in shares of indie Semiconductor by 23.5% during the 2nd quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock valued at $90,049,000 after purchasing an additional 4,813,397 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in indie Semiconductor by 9.5% in the 2nd quarter. Geode Capital Management LLC now owns 4,573,560 shares of the company’s stock worth $16,285,000 after purchasing an additional 396,433 shares during the period. Institutional investors own 67.73% of the company’s stock.

indie Semiconductor Company Profile

indie Semiconductor, Inc is a fabless semiconductor company headquartered in San Jose, California, that specializes in advanced chip solutions for the automotive industry. The company designs and develops microcontrollers, sensor processing units, application processors and power management integrated circuits tailored for electric vehicles (EVs), advanced driver assistance systems (ADAS), infotainment and digital clusters. indie’s product portfolio aims to deliver high performance, energy efficiency and functional safety to meet stringent automotive requirements.

Originally formed as Integrated Memory Systems in 2021 through a business combination with a special purpose acquisition company, the firm rebranded to indie Semiconductor in early 2022.