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

Key Points

• Unusually heavy call option activity hit indie Semiconductor, with traders buying 8,733 call contracts on Tuesday — about 155% above the stock’s average daily call volume.
• Insiders have been selling shares recently, including CFO Naixi Wu and President Ichiro Aoki; overall, insiders sold 1.64 million shares worth about $7.94 million in the past 90 days.
• Analyst sentiment remains cautious, with a consensus rating of Hold and an average price target of $5.58, while the stock recently traded at $4.41 after rising on the day.

indie Semiconductor, Inc. (NASDAQ:INDI - Get Free Report) was the recipient of unusually large options trading activity on Tuesday. Stock investors acquired 8,733 call options on the company. This represents an increase of 155% compared to the average daily volume of 3,431 call options.

Insider Buying and Selling at indie Semiconductor

In other news, CFO Naixi Wu sold 55,000 shares of the stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $2.81, for a total transaction of $154,550.00. Following the transaction, the chief financial officer owned 120,787 shares of the company's stock, valued at approximately $339,411.47. This represents a 31.29% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Ichiro Aoki sold 454,900 shares of the business's stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $5.28, for a total value of $2,401,872.00. Following the transaction, the president directly owned 106,169 shares of the company's stock, valued at $560,572.32. This represents a 81.08% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,643,552 shares of company stock worth $7,939,645 in the last ninety days. 2.57% of the stock is owned by corporate insiders.

Institutional Trading of indie Semiconductor

A number of institutional investors and hedge funds have recently modified their holdings of INDI. Envestnet Asset Management Inc. raised its holdings in indie Semiconductor by 32.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 16,118 shares of the company's stock valued at $66,000 after buying an additional 3,921 shares during the period. Cetera Investment Advisers raised its stake in shares of indie Semiconductor by 20.5% in the fourth quarter. Cetera Investment Advisers now owns 25,683 shares of the company's stock valued at $91,000 after acquiring an additional 4,365 shares during the period. Daiwa Securities Group Inc. lifted its holdings in shares of indie Semiconductor by 33.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 19,136 shares of the company's stock worth $68,000 after acquiring an additional 4,763 shares during the last quarter. Abel Hall LLC lifted its holdings in shares of indie Semiconductor by 42.3% in the 4th quarter. Abel Hall LLC now owns 16,934 shares of the company's stock worth $60,000 after acquiring an additional 5,030 shares during the last quarter. Finally, Verition Fund Management LLC boosted its stake in shares of indie Semiconductor by 1.9% during the 4th quarter. Verition Fund Management LLC now owns 268,590 shares of the company's stock worth $948,000 after purchasing an additional 5,055 shares during the period. 67.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INDI has been the topic of several research reports. Wall Street Zen raised indie Semiconductor from a "sell" rating to a "hold" rating in a research note on Saturday, May 16th. UBS Group raised their target price on shares of indie Semiconductor from $4.25 to $4.75 and gave the company a "neutral" rating in a research note on Friday, May 8th. Weiss Ratings reiterated a "sell (d-)" rating on shares of indie Semiconductor in a research report on Tuesday, April 21st. Finally, TD Cowen started coverage on shares of indie Semiconductor in a research note on Wednesday, June 10th. They set a "hold" rating and a $4.00 price target for the company. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, indie Semiconductor has a consensus rating of "Hold" and a consensus price target of $5.58.

indie Semiconductor Stock Performance

NASDAQ:INDI traded up $0.65 during mid-day trading on Tuesday, hitting $4.41. 9,188,098 shares of the stock were exchanged, compared to its average volume of 5,022,928. The firm's 50-day simple moving average is $4.21 and its 200 day simple moving average is $3.77. The stock has a market capitalization of $999.51 million, a price-to-earnings ratio of -5.80 and a beta of 2.73. indie Semiconductor has a fifty-two week low of $2.32 and a fifty-two week high of $6.05. The company has a debt-to-equity ratio of 1.15, a quick ratio of 3.39 and a current ratio of 4.11.

indie Semiconductor (NASDAQ:INDI - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.06) EPS for the quarter, meeting the consensus estimate of ($0.06). indie Semiconductor had a negative net margin of 69.76% and a negative return on equity of 29.85%. The business had revenue of $55.46 million during the quarter, compared to the consensus estimate of $55.09 million. During the same period in the previous year, the business earned ($0.08) earnings per share. The company's revenue was up 2.5% on a year-over-year basis. As a group, equities analysts anticipate that indie Semiconductor will post -0.52 EPS for the current fiscal 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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