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

indie Semiconductor, Inc. (NASDAQ:INDI) was the target of some unusual options trading activity on Friday. Investors acquired 2,876 put options on the stock. This is an increase of approximately 30% compared to the average volume of 2,209 put options.

Analyst Ratings Changes

Several research firms have recently issued reports on INDI. UBS Group upped their target price on shares of indie Semiconductor from $4.50 to $5.00 and gave the stock a “hold” rating in a research note on Monday, November 10th. Roth Mkm reaffirmed a “buy” rating and issued a $8.00 price objective on shares of indie Semiconductor in a research report on Wednesday, October 15th. Wall Street Zen lowered shares of indie Semiconductor from a “hold” rating to a “sell” rating in a research note on Saturday, December 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of indie Semiconductor in a research note on Thursday. Five investment 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. According to data from MarketBeat, indie Semiconductor currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.60.

Insider Buying and Selling

In other news, CFO Naixi Wu sold 12,448 shares of the stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $3.67, for a total value of $45,684.16. Following the completion of the sale, the chief financial officer directly owned 76,969 shares of the company’s stock, valued at $282,476.23. This represents a 13.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Donald Mcclymont sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, December 15th. The shares were sold at an average price of $4.09, for a total value of $409,000.00. Following the completion of the transaction, the chief executive officer owned 48,130 shares in the company, valued at $196,851.70. This represents a 67.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 733,734 shares of company stock worth $2,827,441 over the last 90 days. Company insiders own 5.60% of the company’s stock.

Hedge Funds Weigh In On indie Semiconductor

Several large investors have recently modified their holdings of the business. ProShare Advisors LLC boosted its stake in shares of indie Semiconductor by 9.0% during the second quarter. ProShare Advisors LLC now owns 39,775 shares of the company’s stock valued at $142,000 after purchasing an additional 3,300 shares during the period. Los Angeles Capital Management LLC increased its stake in shares of indie Semiconductor by 9.3% in the second quarter. Los Angeles Capital Management LLC now owns 45,619 shares of the company’s stock worth $162,000 after buying an additional 3,898 shares during the period. CWM LLC raised its holdings in indie Semiconductor by 34.7% during the 2nd quarter. CWM LLC now owns 15,215 shares of the company’s stock valued at $54,000 after buying an additional 3,916 shares during the last quarter. Envestnet Asset Management Inc. boosted its position 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. Finally, Ameritas Investment Partners Inc. grew its holdings in indie Semiconductor by 27.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 19,804 shares of the company’s stock worth $71,000 after acquiring an additional 4,207 shares during the last quarter. Hedge funds and other institutional investors own 67.73% of the company’s stock.

indie Semiconductor Stock Down 2.4%

INDI opened at $4.47 on Friday. indie Semiconductor has a twelve month low of $1.53 and a twelve month high of $6.05. The company’s 50-day moving average price is $3.91 and its two-hundred day moving average price is $4.24. The stock has a market cap of $981.75 million, a price-to-earnings ratio of -5.96 and a beta of 2.54. The company has a quick ratio of 3.18, a current ratio of 3.75 and a debt-to-equity ratio of 0.86.

indie Semiconductor (NASDAQ:INDI) last posted its quarterly earnings data on Thursday, November 6th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). indie Semiconductor had a negative net margin of 66.84% and a negative return on equity of 28.84%. The firm had revenue of $53.68 million during the quarter, compared to analysts’ expectations of $53.98 million. During the same quarter in the previous year, the company posted ($0.09) EPS. indie Semiconductor’s revenue for the quarter was down .6% on a year-over-year basis. As a group, equities analysts expect 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.