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

indie Semiconductor, Inc. (NASDAQ:INDI) was the target of unusually large options trading on Wednesday. Traders purchased 2,328 call options on the company. This represents an increase of approximately 56% compared to the average daily volume of 1,488 call options.

Analyst Upgrades and Downgrades

Several research firms recently commented on INDI. UBS Group set a $4.25 price objective on indie Semiconductor in a research report on Sunday, February 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a research report on Thursday, January 22nd. Finally, Wall Street Zen lowered shares of indie Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.45.

indie Semiconductor Price Performance

Shares of NASDAQ:INDI traded down $0.58 during mid-day trading on Wednesday, reaching $2.58. The stock had a trading volume of 12,794,787 shares, compared to its average volume of 3,373,754. The business’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. The company has a market cap of $566.65 million, a P/E ratio of -3.53 and a beta of 2.55. The company has a current ratio of 3.75, a quick ratio of 3.18 and a debt-to-equity ratio of 0.86.

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

Insider Buying and Selling at indie Semiconductor

In related news, CEO Donald Mcclymont sold 90,644 shares of indie Semiconductor stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $3.56, for a total transaction of $322,692.64. Following the completion of the transaction, the chief executive officer directly owned 282,393 shares of the company’s stock, valued at $1,005,319.08. This trade represents a 24.30% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Ichiro Aoki sold 7,188 shares of the business’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $3.67, for a total transaction of $26,379.96. Following the sale, the president directly owned 94,725 shares in the company, valued at $347,640.75. The trade was a 7.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 394,525 shares of company stock worth $1,488,975. Corporate insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

Several institutional investors have recently bought and sold shares of the business. Primecap Management Co. CA lifted its stake in indie Semiconductor by 3.0% in the fourth quarter. Primecap Management Co. CA now owns 29,774,708 shares of the company’s stock worth $105,105,000 after purchasing an additional 873,940 shares during the last quarter. Bamco Inc. NY grew its stake in shares of indie Semiconductor by 23.5% during the second quarter. Bamco Inc. NY now owns 25,294,776 shares of the company’s stock valued at $90,049,000 after buying an additional 4,813,397 shares during the last quarter. Frontier Capital Management Co. LLC raised its holdings in shares of indie Semiconductor by 29.9% in the second quarter. Frontier Capital Management Co. LLC now owns 17,960,663 shares of the company’s stock worth $63,940,000 after buying an additional 4,139,349 shares during the period. Vanguard Group Inc. lifted its stake in shares of indie Semiconductor by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 15,493,648 shares of the company’s stock worth $54,693,000 after acquiring an additional 210,463 shares during the last quarter. Finally, Elemental Capital Partners LLC boosted its holdings in indie Semiconductor by 3.8% during the 4th quarter. Elemental Capital Partners LLC now owns 7,902,713 shares of the company’s stock valued at $27,897,000 after acquiring an additional 291,111 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.