indie Semiconductor Sees Unusually High Options Volume (NASDAQ:INDI)

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

Insider Activity at indie Semiconductor

In other indie Semiconductor news, President Ichiro Aoki sold 300,562 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The shares were sold at an average price of $5.18, for a total transaction of $1,556,911.16. Following the transaction, the president owned 107,148 shares of the company’s stock, valued at $555,026.64. This trade represents a 73.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Donald Mcclymont sold 50,000 shares of the business’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $4.19, for a total transaction of $209,500.00. Following the sale, the chief executive officer directly owned 307,363 shares of the company’s stock, valued at $1,287,850.97. This represents a 13.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,643,552 shares of company stock valued at $7,939,645 in the last ninety days. 2.57% of the stock is owned by company insiders.

Institutional Investors Weigh In On indie Semiconductor

Hedge funds have recently modified their holdings of the stock. Optiver Holding B.V. boosted its holdings in indie Semiconductor by 7,163.7% in the 1st quarter. Optiver Holding B.V. now owns 8,208 shares of the company’s stock worth $26,000 after acquiring an additional 8,095 shares during the period. Principal Financial Group Inc. purchased a new stake in shares of indie Semiconductor during the first quarter valued at approximately $35,000. Evergreen Capital Management LLC acquired a new position in shares of indie Semiconductor during the second quarter worth $37,000. Gainplan LLC purchased a new position in shares of indie Semiconductor in the fourth quarter valued at $39,000. Finally, Caitong International Asset Management Co. Ltd boosted its stake in shares of indie Semiconductor by 45,829.2% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company’s stock valued at $39,000 after purchasing an additional 10,999 shares during the period. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on INDI shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a research report on Tuesday, April 21st. UBS Group upped their price target on indie Semiconductor from $4.25 to $4.75 and gave the stock a “neutral” rating in a research note on Friday, May 8th. TD Cowen started coverage on indie Semiconductor in a report on Wednesday, June 10th. They issued a “hold” rating and a $4.00 price objective 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 issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $5.58.

indie Semiconductor Stock Performance

Shares of INDI stock opened at $4.54 on Thursday. The company has a current ratio of 4.11, a quick ratio of 3.39 and a debt-to-equity ratio of 1.15. The company has a market cap of $1.03 billion, a PE ratio of -5.97 and a beta of 2.75. The company’s fifty day simple moving average is $4.25 and its 200-day simple moving average is $3.77. indie Semiconductor has a 52 week low of $2.32 and a 52 week high of $6.05.

indie Semiconductor (NASDAQ:INDI) last announced its quarterly earnings results on Thursday, May 7th. The company reported ($0.06) earnings per share 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 analysts’ expectations of $55.09 million. During the same period in the prior year, the company earned ($0.08) EPS. The firm’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.