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

indie Semiconductor, Inc. (NASDAQ:INDIGet Free Report) was the recipient of unusually large options trading on Monday. Traders purchased 24,833 call options on the stock. This is an increase of approximately 396% compared to the typical daily volume of 5,004 call options.

indie Semiconductor Trading Up 1.5%

NASDAQ:INDI traded up $0.07 during mid-day trading on Monday, hitting $4.78. The company had a trading volume of 12,874,677 shares, compared to its average volume of 5,328,720. The company has a debt-to-equity ratio of 1.25, a quick ratio of 2.86 and a current ratio of 3.65. indie Semiconductor has a fifty-two week low of $2.32 and a fifty-two week high of $6.05. The firm has a market cap of $1.11 billion, a P/E ratio of -6.55 and a beta of 2.79. The business’s fifty day moving average is $3.92 and its two-hundred day moving average is $3.75.

indie Semiconductor (NASDAQ:INDIGet Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $64.01 million during the quarter, compared to analyst estimates of $62.49 million. indie Semiconductor had a negative return on equity of 32.02% and a negative net margin of 65.18%.The company’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.08) EPS. As a group, research analysts expect that indie Semiconductor will post -0.52 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Michael Wittmann sold 39,645 shares of indie Semiconductor stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $4.80, for a total value of $190,296.00. Following the completion of the sale, the chief operating officer directly owned 98,309 shares of the company’s stock, valued at approximately $471,883.20. This trade represents a 28.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Ichiro Aoki sold 454,900 shares of indie Semiconductor stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $5.28, for a total value of $2,401,872.00. Following the completion of the sale, the president directly owned 106,169 shares of the company’s stock, valued at $560,572.32. This trade represents a 81.08% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 1,460,456 shares of company stock valued at $7,338,613. 2.57% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On indie Semiconductor

Several large investors have recently bought and sold shares of the company. Optiver Holding B.V. raised its holdings in indie Semiconductor by 7,163.7% in the first quarter. Optiver Holding B.V. now owns 8,208 shares of the company’s stock worth $26,000 after purchasing an additional 8,095 shares during the period. Principal Financial Group Inc. acquired a new position in shares of indie Semiconductor in the 1st quarter valued at $35,000. Evergreen Capital Management LLC bought a new stake in shares of indie Semiconductor in the 2nd quarter valued at $37,000. Caitong International Asset Management Co. Ltd increased its position in shares of indie Semiconductor by 45,829.2% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company’s stock valued at $39,000 after buying an additional 10,999 shares in the last quarter. Finally, Jump Financial LLC acquired a new stake in indie Semiconductor during the 2nd quarter worth $39,000. Institutional investors own 67.73% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a report on Friday, July 17th. UBS Group lifted their price target on shares of indie Semiconductor from $4.25 to $4.75 and gave the stock a “neutral” rating in a research report on Friday, May 8th. Roth Capital set a $5.00 price target on shares of indie Semiconductor in a research note on Friday, August 7th. TD Cowen increased their price objective on shares of indie Semiconductor from $4.00 to $4.50 and gave the company a “hold” rating in a report on Monday, July 13th. Finally, Wall Street Zen raised shares of indie Semiconductor from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. One research 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.75.

Check Out Our Latest Stock Analysis on indie Semiconductor

indie Semiconductor Company Profile

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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.

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