indie Semiconductor Target of Unusually Large Options Trading (NASDAQ:INDI)
by Scott Moore · The Cerbat Gemindie Semiconductor, Inc. (NASDAQ:INDI – Get Free Report) was the recipient of some unusual options trading activity on Monday. Stock traders bought 14,028 call options on the stock. This is an increase of 845% compared to the typical daily volume of 1,485 call options.
indie Semiconductor Price Performance
Shares of indie Semiconductor stock traded up $0.28 during midday trading on Monday, hitting $3.94. 6,450,070 shares of the company traded hands, compared to its average volume of 4,329,547. The stock has a market cap of $880.10 million, a price-to-earnings ratio of -5.42 and a beta of 2.56. The company has a debt-to-equity ratio of 0.88, a quick ratio of 3.10 and a current ratio of 3.73. The firm’s fifty day moving average price is $3.08 and its 200-day moving average price is $3.84. indie Semiconductor has a 12 month low of $1.90 and a 12 month high of $6.05.
indie Semiconductor (NASDAQ:INDI – Get Free Report) last posted its earnings results on Thursday, February 19th. The company reported ($0.07) earnings per share 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 firm had revenue of $58.01 million for the quarter, compared to analyst estimates of $57.11 million. During the same period in the previous year, the firm posted ($0.07) EPS. The company’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, sell-side analysts forecast that indie Semiconductor will post -0.44 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on INDI shares. UBS Group set a $4.25 price target on shares of indie Semiconductor in a report on Sunday, February 22nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of indie Semiconductor in a report on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, indie Semiconductor has a consensus rating of “Moderate Buy” and an average price target of $6.45.
View Our Latest Research Report on INDI
Insider Activity
In other indie Semiconductor news, CEO Donald Mcclymont sold 90,644 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $3.56, for a total transaction of $322,692.64. Following the completion of the sale, the chief executive officer directly owned 282,393 shares in the company, valued at $1,005,319.08. This represents a 24.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, President Ichiro Aoki sold 100,000 shares of the company’s stock in a transaction on Thursday, March 26th. The stock was sold at an average price of $3.28, for a total value of $328,000.00. Following the sale, the president owned 100,952 shares of the company’s stock, valued at $331,122.56. The trade was a 49.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 619,182 shares of company stock valued at $1,906,388 in the last 90 days. 5.60% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On indie Semiconductor
Several institutional investors and hedge funds have recently added to or reduced their stakes in INDI. Royal Bank of Canada increased its position in indie Semiconductor by 309.7% in the 1st quarter. Royal Bank of Canada now owns 551,007 shares of the company’s stock valued at $1,122,000 after acquiring an additional 416,519 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in indie Semiconductor by 42.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,002,253 shares of the company’s stock valued at $2,040,000 after acquiring an additional 298,339 shares during the period. Millennium Management LLC increased its position in indie Semiconductor by 456.6% in the 1st quarter. Millennium Management LLC now owns 3,702,671 shares of the company’s stock valued at $7,535,000 after acquiring an additional 3,037,435 shares during the period. JPMorgan Chase & Co. increased its position in indie Semiconductor by 5.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 255,322 shares of the company’s stock valued at $909,000 after acquiring an additional 13,495 shares during the period. Finally, Rhumbline Advisers increased its position in indie Semiconductor by 24.3% in the 2nd quarter. Rhumbline Advisers now owns 299,275 shares of the company’s stock valued at $1,065,000 after acquiring an additional 58,473 shares during the period. 67.73% of the stock is currently owned by institutional investors and hedge funds.
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.