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

indie Semiconductor, Inc. (NASDAQ:INDI) saw some unusual options trading activity on Wednesday. Traders bought 2,328 call options on the company. This is an increase of approximately 56% compared to the typical volume of 1,488 call options.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wall Street Zen downgraded indie Semiconductor from a “hold” rating to a “sell” rating in a report on Saturday, December 13th. Weiss Ratings reiterated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Thursday, January 22nd. Finally, UBS Group set a $4.25 price target on shares of indie Semiconductor in a research note on Sunday, February 22nd. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $6.45.

Insider Activity

In other indie Semiconductor news, President Ichiro Aoki sold 7,188 shares of indie Semiconductor stock in a transaction on Monday, January 5th. The shares were sold at an average price of $3.67, for a total value of $26,379.96. Following the transaction, the president directly owned 94,725 shares of the company’s stock, valued at approximately $347,640.75. The trade was a 7.05% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Donald Mcclymont sold 90,644 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $3.56, for a total value of $322,692.64. Following the transaction, the chief executive officer directly owned 282,393 shares in the company, valued at approximately $1,005,319.08. The trade was a 24.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 394,525 shares of company stock valued at $1,488,975 in the last ninety days. 5.60% of the stock is currently owned by insiders.

Institutional Trading of indie Semiconductor

Several institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC raised its stake in indie Semiconductor by 356.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 9,651 shares of the company’s stock valued at $34,000 after purchasing an additional 7,536 shares during the last quarter. Evergreen Capital Management LLC acquired a new stake in shares of indie Semiconductor in the second quarter valued at about $37,000. Gainplan LLC purchased a new position in shares of indie Semiconductor in the fourth quarter worth about $39,000. Caitong International Asset Management Co. Ltd boosted its position in indie Semiconductor by 45,829.2% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 11,023 shares of the company’s stock worth $39,000 after acquiring an additional 10,999 shares during the last quarter. Finally, Jump Financial LLC acquired a new position in indie Semiconductor during the second quarter worth about $39,000. 67.73% of the stock is owned by institutional investors and hedge funds.

indie Semiconductor Trading Down 18.4%

NASDAQ INDI opened at $2.58 on Thursday. The company has a fifty day moving average of $3.86 and a 200 day moving average of $4.17. The company has a market capitalization of $566.65 million, a PE ratio of -3.53 and a beta of 2.55. The company has a debt-to-equity ratio of 0.88, a current ratio of 3.73 and a quick ratio of 3.18. indie Semiconductor has a 1 year low of $1.53 and a 1 year high of $6.05.

indie Semiconductor (NASDAQ:INDI) last issued its quarterly earnings data on Thursday, February 19th. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). The business had revenue of $58.01 million during the quarter, compared to analysts’ expectations of $57.11 million. indie Semiconductor had a negative return on equity of 29.33% and a negative net margin of 66.23%.The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.07) EPS. Research analysts forecast that indie Semiconductor will post -0.54 earnings per share 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.