indie Semiconductor Target of Unusually High Options Trading (NASDAQ:INDI)

indie Semiconductor, Inc. (NASDAQ:INDI) saw unusually large options trading activity on Tuesday. Investors purchased 8,733 call options on the stock. 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 related news, CFO Naixi Wu sold 12,898 shares of the business’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $5.12, for a total value of $66,037.76. Following the sale, the chief financial officer directly owned 114,787 shares in the company, valued at $587,709.44. The trade was a 10.10% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Michael Wittmann sold 39,645 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $4.80, for a total transaction of $190,296.00. Following the sale, the chief operating officer directly owned 98,309 shares of the company’s stock, valued at approximately $471,883.20. This represents a 28.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,643,552 shares of company stock valued at $7,939,645 over the last quarter. Company insiders own 2.57% of the company’s stock.

Institutional Trading of indie Semiconductor

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in indie Semiconductor by 9.6% in the 3rd quarter. Vanguard Group Inc. now owns 15,283,185 shares of the company’s stock worth $62,203,000 after acquiring an additional 1,334,145 shares in the last quarter. ArrowMark Colorado Holdings LLC acquired a new stake in indie Semiconductor during the 3rd quarter worth about $3,931,000. Handelsbanken Fonder AB grew its stake in indie Semiconductor by 1,938.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 1,579,686 shares of the company’s stock valued at $6,429,000 after acquiring an additional 1,502,175 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in indie Semiconductor during the 3rd quarter valued at about $22,385,000. Finally, Wasatch Advisors LP increased its holdings in shares of indie Semiconductor by 130.0% in the 1st quarter. Wasatch Advisors LP now owns 3,811,285 shares of the company’s stock valued at $12,272,000 after purchasing an additional 2,154,279 shares during the period. Institutional investors and hedge funds own 67.73% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on INDI shares. Wall Street Zen raised indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a research report on Tuesday, April 21st. TD Cowen initiated coverage on indie Semiconductor in a report on Wednesday, June 10th. They set a “hold” rating and a $4.00 target price for the company. Finally, UBS Group increased their price target on indie Semiconductor from $4.25 to $4.75 and gave the company a “neutral” rating in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $5.58.

indie Semiconductor Stock Up 18.8%

INDI stock opened at $4.46 on Wednesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 4.11 and a quick ratio of 3.39. The firm has a market capitalization of $1.01 billion, a P/E ratio of -5.88 and a beta of 2.73. indie Semiconductor has a 52-week low of $2.32 and a 52-week high of $6.05. The company’s 50 day simple moving average is $4.23 and its 200-day simple moving average is $3.77.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, hitting analysts’ consensus estimates of ($0.06). indie Semiconductor had a negative net margin of 69.76% and a negative return on equity of 29.85%. The firm had revenue of $55.46 million during the quarter, compared to analyst estimates of $55.09 million. During the same quarter last year, the business posted ($0.08) EPS. The company’s revenue was up 2.5% on a year-over-year basis. As a group, equities research analysts anticipate that indie Semiconductor will post -0.52 EPS for the current year.

About indie Semiconductor

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.