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

indie Semiconductor, Inc. (NASDAQ:INDI) was the target of some unusual options trading activity on Tuesday. Stock traders acquired 3,502 put options on the stock. This represents an increase of approximately 229% compared to the typical volume of 1,064 put options.

indie Semiconductor Stock Up 1.9 %

Shares of INDI stock traded up $0.06 during trading on Tuesday, reaching $3.28. The company’s stock had a trading volume of 997,338 shares, compared to its average volume of 2,767,680. The stock’s 50-day moving average price is $5.17 and its 200 day moving average price is $5.97. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.66 and a quick ratio of 2.20. The company has a market capitalization of $647.54 million, a price-to-earnings ratio of -6.57 and a beta of 1.20. indie Semiconductor has a 1-year low of $3.21 and a 1-year high of $8.69.

indie Semiconductor (NASDAQ:INDI) last announced its earnings results on Thursday, August 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.09). indie Semiconductor had a negative net margin of 34.65% and a negative return on equity of 22.48%. The business had revenue of $52.40 million for the quarter, compared to analyst estimates of $53.61 million. During the same period last year, the firm posted ($0.11) earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. On average, research analysts anticipate that indie Semiconductor will post -0.7 EPS for the current year.

Insider Activity at indie Semiconductor

In other news, CFO Thomas Schiller sold 75,000 shares of indie Semiconductor stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total transaction of $287,250.00. Following the completion of the sale, the chief financial officer now owns 977,192 shares in the company, valued at approximately $3,742,645.36. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other indie Semiconductor news, CFO Thomas Schiller sold 75,000 shares of indie Semiconductor stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $3.83, for a total transaction of $287,250.00. Following the completion of the transaction, the chief financial officer now directly owns 977,192 shares of the company’s stock, valued at $3,742,645.36. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sonalee Elizabeth Parekh sold 10,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $7.58, for a total value of $75,800.00. Following the transaction, the director now owns 75,185 shares in the company, valued at approximately $569,902.30. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 366,882 shares of company stock worth $2,193,120. Company insiders own 8.20% of the company’s stock.

Institutional Investors Weigh In On indie Semiconductor

Several hedge funds and other institutional investors have recently bought and sold shares of INDI. Primecap Management Co. CA grew its position in indie Semiconductor by 93.5% in the 2nd quarter. Primecap Management Co. CA now owns 15,779,119 shares of the company’s stock valued at $97,357,000 after buying an additional 7,624,797 shares in the last quarter. Bamco Inc. NY raised its holdings in shares of indie Semiconductor by 28.0% in the 1st quarter. Bamco Inc. NY now owns 14,285,896 shares of the company’s stock worth $101,144,000 after buying an additional 3,121,255 shares in the last quarter. Granahan Investment Management LLC increased its stake in shares of indie Semiconductor by 63.3% in the fourth quarter. Granahan Investment Management LLC now owns 13,194,588 shares of the company’s stock valued at $107,008,000 after buying an additional 5,115,393 shares in the last quarter. Vanguard Group Inc. boosted its holdings in indie Semiconductor by 3.2% in the first quarter. Vanguard Group Inc. now owns 10,599,890 shares of the company’s stock valued at $75,047,000 after acquiring an additional 332,500 shares during the last quarter. Finally, Frontier Capital Management Co. LLC boosted its holdings in indie Semiconductor by 40.4% during the fourth quarter. Frontier Capital Management Co. LLC now owns 3,138,449 shares of the company’s stock worth $25,453,000 after buying an additional 902,530 shares during the last quarter. 67.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INDI has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft reduced their target price on indie Semiconductor from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Roth Mkm decreased their price target on indie Semiconductor from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Finally, Benchmark reaffirmed a “buy” rating and set a $12.00 price target on shares of indie Semiconductor in a report on Tuesday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, indie Semiconductor has an average rating of “Buy” and a consensus target price of $10.50.

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.