Investors Purchase Large Volume of Call Options on indie Semiconductor (NASDAQ:INDI)

indie Semiconductor, Inc. (NASDAQ:INDI) was the target of unusually large options trading on Tuesday. Traders purchased 8,733 call options on the company. This is an increase of approximately 155% compared to the typical daily volume of 3,431 call options.

Insider Buying and Selling at indie Semiconductor

In other news, CFO Naixi Wu sold 55,000 shares of indie Semiconductor stock in a transaction on Thursday, April 9th. The stock was sold at an average price of $2.81, for a total value of $154,550.00. Following the transaction, the chief financial officer directly owned 120,787 shares in the company, valued at approximately $339,411.47. This trade represents a 31.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Ichiro Aoki sold 454,900 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $5.28, for a total value of $2,401,872.00. Following the transaction, the president directly owned 106,169 shares in the company, valued at approximately $560,572.32. The trade was a 81.08% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,643,552 shares of company stock worth $7,939,645. Insiders own 2.57% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. lifted its stake in shares of indie Semiconductor by 32.1% in the third quarter. Envestnet Asset Management Inc. now owns 16,118 shares of the company’s stock valued at $66,000 after purchasing an additional 3,921 shares during the period. Cetera Investment Advisers increased its holdings in indie Semiconductor by 20.5% in the fourth quarter. Cetera Investment Advisers now owns 25,683 shares of the company’s stock valued at $91,000 after buying an additional 4,365 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of indie Semiconductor by 33.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 19,136 shares of the company’s stock valued at $68,000 after acquiring an additional 4,763 shares during the period. Abel Hall LLC lifted its position in shares of indie Semiconductor by 42.3% during the 4th quarter. Abel Hall LLC now owns 16,934 shares of the company’s stock valued at $60,000 after acquiring an additional 5,030 shares during the period. Finally, Verition Fund Management LLC increased its stake in indie Semiconductor by 1.9% in the 4th quarter. Verition Fund Management LLC now owns 268,590 shares of the company’s stock valued at $948,000 after purchasing an additional 5,055 shares in the last quarter. 67.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

INDI has been the subject of several analyst reports. UBS Group upped their target price on indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a report on Friday, May 8th. Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a research report on Tuesday, April 21st. TD Cowen started coverage on shares of indie Semiconductor in a research note on Wednesday, June 10th. They set a “hold” rating and a $4.00 target price on the stock. Finally, Wall Street Zen upgraded indie Semiconductor from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, indie Semiconductor presently has a consensus rating of “Hold” and a consensus price target of $5.58.

indie Semiconductor Stock Performance

indie Semiconductor stock traded up $0.65 during midday trading on Tuesday, hitting $4.41. 9,188,098 shares of the company’s stock were exchanged, compared to its average volume of 5,022,928. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.39 and a current ratio of 4.11. The stock has a market cap of $999.51 million, a price-to-earnings ratio of -5.80 and a beta of 2.73. indie Semiconductor has a 12-month low of $2.32 and a 12-month high of $6.05. The firm’s 50 day simple moving average is $4.21 and its 200 day simple moving average is $3.77.

indie Semiconductor (NASDAQ:INDI) last released its earnings results on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, hitting the consensus estimate of ($0.06). indie Semiconductor had a negative net margin of 69.76% and a negative return on equity of 29.85%. The company had revenue of $55.46 million during the quarter, compared to analysts’ expectations of $55.09 million. During the same quarter last year, the business earned ($0.08) EPS. The business’s revenue was up 2.5% on a year-over-year basis. Equities research analysts predict that indie Semiconductor will post -0.52 EPS for the current year.

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.