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

indie Semiconductor, Inc. (NASDAQ:INDI) was the target of some unusual options trading on Monday. Traders bought 1,914 call options on the stock. This is an increase of 122% compared to the average daily volume of 864 call options.

indie Semiconductor Stock Down 8.6 %

Shares of INDI traded down $0.47 during mid-day trading on Monday, hitting $5.01. 1,782,981 shares of the company’s stock were exchanged, compared to its average volume of 2,842,476. The company has a market cap of $989.05 million, a PE ratio of -8.42 and a beta of 1.22. The company has a 50-day simple moving average of $3.70 and a 200 day simple moving average of $5.14. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.66 and a quick ratio of 2.20. indie Semiconductor has a 52 week low of $3.16 and a 52 week high of $8.69.

indie Semiconductor (NASDAQ:INDI) last released its quarterly earnings results on Thursday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.09). The business had revenue of $52.40 million during the quarter, compared to the consensus estimate of $53.61 million. indie Semiconductor had a negative return on equity of 24.14% and a negative net margin of 49.88%. The firm’s quarterly revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.11) EPS. On average, research analysts forecast that indie Semiconductor will post -0.7 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Thomas Schiller sold 75,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $3.83, for a total transaction of $287,250.00. Following the sale, the chief financial officer now owns 977,192 shares of the company’s stock, valued at $3,742,645.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

Several institutional investors and hedge funds have recently added to or reduced their stakes in INDI. GAMMA Investing LLC boosted its position in shares of indie Semiconductor by 1,743.8% during the 2nd quarter. GAMMA Investing LLC now owns 4,130 shares of the company’s stock valued at $25,000 after purchasing an additional 3,906 shares in the last quarter. Xponance Inc. bought a new stake in shares of indie Semiconductor in the second quarter valued at $63,000. Creative Planning purchased a new stake in indie Semiconductor during the third quarter valued at about $75,000. Legato Capital Management LLC bought a new position in indie Semiconductor in the 2nd quarter worth approximately $76,000. Finally, SlateStone Wealth LLC purchased a new position in indie Semiconductor during the 2nd quarter valued at about $82,000. 67.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on INDI shares. Roth Mkm lowered their price objective on indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a research note on Friday. Deutsche Bank Aktiengesellschaft dropped their price target on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Finally, Benchmark decreased their target price on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $9.79.

indie Semiconductor Company Profile

indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, autonomous vehicle, in-cabin, connected car, and electrification applications in the United States, South America, rest of North America, Greater China, South Korea, rest of the Asia Pacific, and Europe.