On February 14, 2023 at 15:33:52 (ET) an unusually large $37.50K block of Put contracts in indie Semiconductor, Inc. (INDI) was bought, with a strike price of $7.50 / share, expiring in 94 days (on May 19, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 3.21 sigmas above the mean, placing it in the 99.87 percentile of all recent large trades made in INDI options.
Analyst Price Forecast Suggests 67.72% Upside
As of February 14, 2023, the average one-year price target for indie Semiconductor, Inc. is $13.77. The forecasts range from a low of $10.10 to a high of $21.00. The average price target represents an increase of 67.72% from its latest reported closing price of $8.21.
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The projected annual revenue for indie Semiconductor, Inc. is $227MM, an increase of 134.71%. The projected annual EPS is -$0.12.
What Is The Fund Sentiment?
There are 256 funds or institutions reporting positions in indie Semiconductor, Inc.. This is an increase of 14 owner(s) or 5.79% in the last quarter. Average portfolio weight of all funds dedicated to INDI is 0.29%, an increase of 75.53%. Total shares owned by institutions increased in the last three months by 34.58% to 85,428K shares. The put/call ratio of INDI is 0.50, indicating a bullish outlook.
Soros Fund Management holds 8,753K shares representing 6.99% ownership of the company. In it's prior filing, the firm reported owning 9,089K shares, representing a decrease of 3.84%. The firm decreased its portfolio allocation in INDI by 38.14% over the last quarter.
Granahan Investment Management holds 7,290K shares representing 5.83% ownership of the company. In it's prior filing, the firm reported owning 4,518K shares, representing an increase of 38.03%. The firm increased its portfolio allocation in INDI by 20.36% over the last quarter.
Lord, Abbett & Co. holds 5,655K shares representing 4.52% ownership of the company. In it's prior filing, the firm reported owning 3,121K shares, representing an increase of 44.80%. The firm increased its portfolio allocation in INDI by 38.36% over the last quarter.
Bamco holds 5,432K shares representing 4.34% ownership of the company. In it's prior filing, the firm reported owning 4,723K shares, representing an increase of 13.06%. The firm decreased its portfolio allocation in INDI by 4.78% over the last quarter.
Summit Partners Public Asset Management holds 4,029K shares representing 3.22% ownership of the company. In it's prior filing, the firm reported owning 4,124K shares, representing a decrease of 2.36%. The firm decreased its portfolio allocation in INDI by 4.57% over the last quarter.
Indie Semiconductor Background Information
(This description is provided by the company.)
indie is empowering the Autotech revolution with next generation automotive semiconductors and software platforms. The company focuses on edge sensors for Advanced Driver Assistance Systems including LiDAR, connected car, user experience and electrification applications.
These technologies represent the core underpinnings of both electric and autonomous vehicles, while the advanced user interfaces transform the in-cabin experience to mirror and seamlessly connect to the mobile platforms indie relies on every day.
The company is an approved vendor to Tier 1 partners and its solutions can be found in marquee automotive OEMs around the world. Headquartered in Aliso Viejo, CA, indie has design centers and sales offices in Austin, TX; Boston, MA; Detroit, MI; San Francisco and San Jose, CA; Budapest, Hungary; Dresden, Germany; Edinburgh, Scotland and several locations throughout China.
Article by Fintel