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

indie Semiconductor, Inc. (NASDAQ:INDI) saw some unusual options trading on Friday. Investors bought 2,876 put options on the company. This represents an increase of approximately 30% compared to the typical volume of 2,209 put options.

Insider Buying and Selling

In related news, President Ichiro Aoki sold 7,188 shares of the stock in a transaction on Monday, January 5th. The stock was sold at an average price of $3.67, for a total value of $26,379.96. Following the completion of the transaction, the president owned 94,725 shares in the company, valued at $347,640.75. This trade represents a 7.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Michael Wittmann sold 15,313 shares of indie Semiconductor stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $3.67, for a total value of $56,198.71. Following the completion of the transaction, the chief operating officer directly owned 111,385 shares in the company, valued at $408,782.95. This represents a 12.09% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 733,734 shares of company stock valued at $2,827,441. 5.60% of the stock is owned by insiders.

Institutional Trading of indie Semiconductor

A number of institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its stake in shares of indie Semiconductor by 309.7% during the 1st quarter. Royal Bank of Canada now owns 551,007 shares of the company’s stock worth $1,122,000 after purchasing an additional 416,519 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in indie Semiconductor by 42.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,002,253 shares of the company’s stock worth $2,040,000 after buying an additional 298,339 shares during the last quarter. Millennium Management LLC raised its holdings in indie Semiconductor by 456.6% during the first quarter. Millennium Management LLC now owns 3,702,671 shares of the company’s stock valued at $7,535,000 after buying an additional 3,037,435 shares in the last quarter. Ballentine Partners LLC bought a new position in indie Semiconductor during the second quarter valued at about $69,000. Finally, Signaturefd LLC lifted its position in shares of indie Semiconductor by 145.7% in the second quarter. Signaturefd LLC now owns 11,457 shares of the company’s stock worth $41,000 after buying an additional 6,794 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INDI has been the topic of several research analyst reports. Roth Mkm reiterated a “buy” rating and set a $8.00 price objective on shares of indie Semiconductor in a research report on Wednesday, October 15th. Wall Street Zen cut indie Semiconductor from a “hold” rating to a “sell” rating in a research report on Saturday, December 13th. UBS Group upped their price target on indie Semiconductor from $4.50 to $5.00 and gave the company a “hold” rating in a research report on Monday, November 10th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of indie Semiconductor in a research note on Wednesday, October 8th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, indie Semiconductor has an average rating of “Moderate Buy” and an average price target of $6.60.

indie Semiconductor Price Performance

Shares of NASDAQ:INDI opened at $4.47 on Friday. The firm has a market cap of $981.75 million, a price-to-earnings ratio of -5.96 and a beta of 2.54. indie Semiconductor has a 1 year low of $1.53 and a 1 year high of $6.05. The company has a current ratio of 3.75, a quick ratio of 3.18 and a debt-to-equity ratio of 0.86. The business has a fifty day simple moving average of $3.91 and a 200 day simple moving average of $4.24.

indie Semiconductor (NASDAQ:INDI) last issued its earnings results on Thursday, November 6th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The firm had revenue of $53.68 million during the quarter, compared to analyst estimates of $53.98 million. indie Semiconductor had a negative return on equity of 28.84% and a negative net margin of 66.84%.The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.09) earnings per share. As a group, sell-side analysts predict that indie Semiconductor will post -0.54 earnings per share for the current fiscal 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.