S&P 500 slips, but losses kept in check as Nvidia climbs ahead of results
Donald McClymont, the Chief Executive Officer of indie Semiconductor, Inc. (NASDAQ:INDI), recently sold shares amounting to $190,686. This transaction, dated March 7, involved the sale of 65,754 shares of Class A Common Stock at a price of $2.90 per share, close to the current trading price of $2.74. The sale was conducted to cover withholding taxes related to the vesting of restricted stock units. According to InvestingPro analysis, INDI’s stock has shown significant volatility, declining nearly 60% over the past year and currently appears undervalued based on Fair Value estimates.
On March 6, McClymont also acquired 143,250 shares of Class A Common Stock through the exercise of performance-based restricted stock units, which were awarded upon meeting certain performance criteria. These shares were acquired at no cost, as part of a performance-based restricted stock units award granted in January 2023. InvestingPro data reveals the company maintains strong liquidity with a current ratio of 4.82, though it faces profitability challenges. Subscribers can access 8 additional ProTips and a comprehensive Pro Research Report for deeper insights into INDI’s financial health.
Following these transactions, McClymont holds a total of 246,535 shares directly, with additional indirect ownership of 68,115 shares held by his spouse. The executive’s continued substantial stake comes as the company faces near-term challenges, with analysts revising earnings expectations downward for the upcoming period, according to InvestingPro analysis.
In other recent news, Indie Semiconductor Inc reported its fourth-quarter 2024 earnings, meeting analysts’ expectations with an earnings per share (EPS) of -$0.07. However, revenue slightly missed projections, coming in at $58 million compared to the anticipated $58.04 million. The company has initiated operational efficiency measures, reducing expenses by $2 million quarterly, as it continues to focus on long-term growth despite near-term market challenges. KeyBanc Capital Markets adjusted its outlook on Indie Semiconductor, lowering the price target from $8.00 to $7.00, but maintained an Overweight rating on the stock. The adjustment followed the company’s fourth-quarter results and a lower-than-expected first-quarter guidance. Ongoing uncertainties related to tariffs and a weaker macroeconomic environment have been cited as factors affecting the company’s ability to launch new products. Despite these challenges, KeyBanc analyst John Vinh expressed a positive outlook for Indie’s future performance, highlighting the company’s significant design wins in areas such as vision, radar, and user experience. Indie Semiconductor projects revenue for Q1 2025 between $52.5 million and $57.5 million, with expected gross margins of 49-50%.
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