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

Key Points

• Investors bought an unusually large number of call options on indie Semiconductor — 14,028 calls on Monday, about an 845% increase versus the average daily call volume of 1,485.
• Insider selling has been notable: President Ichiro Aoki sold 50,000 shares and CEO Donald McClymont sold 18,420 shares; insiders disposed of 619,182 shares (~$1.91M) over the past three months and now own 5.60% of the stock.
• The stock has a consensus analyst rating of "Moderate Buy" (4 buys, 1 hold, 1 sell) with an average price target of $6.45, while several institutions (e.g., RBC, Millennium, Mirae) materially increased their holdings recently.

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) saw unusually large options trading activity on Monday. Stock investors purchased 14,028 call options on the stock. This is an increase of approximately 845% compared to the average daily volume of 1,485 call options.

Wall Street Analyst Weigh In

Several research analysts recently commented on INDI shares. UBS Group set a $4.25 target price on shares of indie Semiconductor in a report on Sunday, February 22nd. Weiss Ratings restated a "sell (d-)" rating on shares of indie Semiconductor in a research note on Tuesday, April 21st. Four investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, indie Semiconductor presently has a consensus rating of "Moderate Buy" and an average price target of $6.45.

Insider Activity at indie Semiconductor

In other news, President Ichiro Aoki sold 50,000 shares of the stock in a transaction on Friday, March 27th. The shares were sold at an average price of $3.17, for a total transaction of $158,500.00. Following the completion of the sale, the president owned 100,952 shares of the company's stock, valued at $320,017.84. This represents a 33.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Donald Mcclymont sold 18,420 shares of the stock in a transaction on Monday, April 6th. The stock was sold at an average price of $2.99, for a total transaction of $55,075.80. Following the sale, the chief executive officer directly owned 298,500 shares of the company's stock, valued at $892,515. This represents a 5.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 619,182 shares of company stock worth $1,906,388 over the last three months. 5.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in INDI. Royal Bank of Canada increased its holdings in shares of indie Semiconductor by 309.7% during the first 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of 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 purchasing an additional 298,339 shares during the period. Millennium Management LLC increased its holdings in shares of indie Semiconductor by 456.6% during the first quarter. Millennium Management LLC now owns 3,702,671 shares of the company's stock worth $7,535,000 after purchasing an additional 3,037,435 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of indie Semiconductor by 5.6% during the second quarter. JPMorgan Chase & Co. now owns 255,322 shares of the company's stock worth $909,000 after purchasing an additional 13,495 shares during the period. Finally, Rhumbline Advisers increased its holdings in shares of indie Semiconductor by 24.3% during the second quarter. Rhumbline Advisers now owns 299,275 shares of the company's stock worth $1,065,000 after purchasing an additional 58,473 shares during the period. 67.73% of the stock is owned by institutional investors.

indie Semiconductor Stock Performance

Shares of NASDAQ INDI traded up $0.28 during mid-day trading on Monday, reaching $3.94. 6,450,070 shares of the company were exchanged, compared to its average volume of 4,329,547. The company's 50-day simple moving average is $3.08 and its 200-day simple moving average is $3.84. The company has a quick ratio of 3.10, a current ratio of 3.73 and a debt-to-equity ratio of 0.88. The stock has a market capitalization of $880.10 million, a P/E ratio of -5.42 and a beta of 2.56. indie Semiconductor has a twelve month low of $1.90 and a twelve month high of $6.05.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last released its quarterly earnings results on Thursday, February 19th. The company reported ($0.07) EPS for the quarter, hitting analysts' consensus estimates of ($0.07). indie Semiconductor had a negative net margin of 66.23% and a negative return on equity of 29.33%. The business had revenue of $58.01 million for the quarter, compared to analyst estimates of $57.11 million. During the same period last year, the firm earned ($0.07) earnings per share. indie Semiconductor's revenue for the quarter was up .0% compared to the same quarter last year. As a group, research analysts predict that indie Semiconductor will post -0.44 earnings per share for the current year.

indie Semiconductor Company Profile

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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