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

Key Points

• Options activity surged: Traders purchased 24,833 call options in indie Semiconductor, roughly 396% above the average daily volume.
• Analyst sentiment remains cautious: The stock has an overall “Hold” rating with an average price target of $4.75, while individual targets range from $4.50 to $5.00.
• Shares rose amid mixed insider activity: INDI gained to $4.78, while insiders sold 1.46 million shares worth approximately $7.34 million over the past 90 days; institutional investors own 67.73% of the company.

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) saw unusually large options trading activity on Monday. Stock traders bought 24,833 call options on the company. This is an increase of 396% compared to the average daily volume of 5,004 call options.

Analysts Set New Price Targets

INDI has been the subject of a number of recent research reports. Wall Street Zen raised indie Semiconductor from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of indie Semiconductor in a research note on Friday, July 17th. TD Cowen upped their price target on indie Semiconductor from $4.00 to $4.50 and gave the company a "hold" rating in a research report on Monday, July 13th. UBS Group upped their price target on indie Semiconductor from $4.25 to $4.75 and gave the company a "neutral" rating in a research report on Friday, May 8th. Finally, Roth Capital set a $5.00 price objective on indie Semiconductor in a research note on Friday, August 7th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $4.75.

Insider Buying and Selling at indie Semiconductor

In other news, COO Michael Wittmann sold 6,250 shares of indie Semiconductor stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $4.67, for a total transaction of $29,187.50. Following the sale, the chief operating officer directly owned 139,352 shares in the company, valued at approximately $650,773.84. The trade was a 4.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Naixi Wu sold 19,640 shares of the company's stock in a transaction dated Thursday, July 2nd. The shares were sold at an average price of $4.37, for a total transaction of $85,826.80. Following the completion of the sale, the chief financial officer directly owned 134,425 shares in the company, valued at approximately $587,437.25. The trade was a 12.75% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,460,456 shares of company stock worth $7,338,613 in the last 90 days. 2.57% of the stock is currently owned by insiders.

Institutional Trading of indie Semiconductor

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Primecap Management Co. CA lifted its position in indie Semiconductor by 3.0% during the 4th quarter. Primecap Management Co. CA now owns 29,774,708 shares of the company's stock worth $105,105,000 after buying an additional 873,940 shares in the last quarter. Bamco Inc. NY increased its position in indie Semiconductor by 0.7% in the 4th quarter. Bamco Inc. NY now owns 21,705,742 shares of the company's stock valued at $76,621,000 after acquiring an additional 148,455 shares in the last quarter. Granahan Investment Management LLC increased its position in indie Semiconductor by 17.8% in the 1st quarter. Granahan Investment Management LLC now owns 20,283,839 shares of the company's stock valued at $65,314,000 after acquiring an additional 3,067,255 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of indie Semiconductor by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 15,493,648 shares of the company's stock worth $54,693,000 after acquiring an additional 210,463 shares during the last quarter. Finally, Elemental Capital Partners LLC raised its stake in shares of indie Semiconductor by 60.0% in the first quarter. Elemental Capital Partners LLC now owns 12,644,393 shares of the company's stock worth $40,715,000 after acquiring an additional 4,741,680 shares during the last quarter. 67.73% of the stock is currently owned by institutional investors and hedge funds.

indie Semiconductor Price Performance

Shares of NASDAQ:INDI traded up $0.07 during trading on Monday, reaching $4.78. The stock had a trading volume of 12,874,677 shares, compared to its average volume of 5,328,720. The stock has a market capitalization of $1.11 billion, a PE ratio of -6.55 and a beta of 2.79. The company has a debt-to-equity ratio of 1.25, a current ratio of 3.65 and a quick ratio of 2.86. indie Semiconductor has a 52 week low of $2.32 and a 52 week high of $6.05. The business's 50-day moving average price is $3.92 and its 200 day moving average price is $3.75.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported ($0.05) EPS for the quarter, hitting analysts' consensus estimates of ($0.05). indie Semiconductor had a negative return on equity of 32.02% and a negative net margin of 65.18%.The business had revenue of $64.01 million for the quarter, compared to analyst estimates of $62.49 million. During the same period in the prior year, the company earned ($0.08) EPS. indie Semiconductor's revenue for the quarter was up 24.0% on a year-over-year basis. As a group, equities analysts predict that indie Semiconductor will post -0.52 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.

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