S&P 500 slips, but losses kept in check as Nvidia climbs ahead of results
In a recent filing with the Securities and Exchange Commission, indie Semiconductor, Inc. (NASDAQ:INDI), a company with a market capitalization of $570 million, disclosed that its President, Aoki Ichiro, sold shares in the company. According to InvestingPro data, the stock has experienced significant volatility, declining over 32% year-to-date. On March 7, 2025, Ichiro sold 2,605 shares of Class A Common Stock at a price of $2.90 per share, amounting to a total transaction value of $7,554. This transaction was conducted in the open market to cover withholding taxes related to the vesting of restricted stock units. The sale price was near the lower end of the stock’s 52-week range of $2.43 to $7.82, at a time when InvestingPro analysis suggests the stock is trading below its Fair Value.
Additionally, on March 6, 2025, Ichiro acquired 6,250 shares of Class A Common Stock through the exercise of performance-based restricted stock units. These units were part of a previously granted award, tied to the achievement of certain performance criteria certified by the company’s Compensation Committee.
After these transactions, Ichiro’s direct holdings in Class A Common Stock amount to 59,465 shares.
In other recent news, Indie Semiconductor Inc reported its fourth-quarter 2024 earnings, meeting analyst expectations with an earnings per share (EPS) of -$0.07. However, the company’s revenue slightly missed the forecast, coming in at $58 million compared to the expected $58.04 million. The company has initiated measures to improve operational efficiency, reducing expenses by $2 million quarterly. For the first quarter of 2025, Indie Semiconductor projects revenue between $52.5 million and $57.5 million, with expected gross margins of 49-50%.
KeyBanc Capital Markets recently adjusted its outlook on Indie Semiconductor, lowering the price target from $8.00 to $7.00 while maintaining an Overweight rating. This adjustment follows the company’s fourth-quarter results and lower-than-expected first-quarter guidance due to ongoing uncertainties related to tariffs and a weaker macroeconomic environment. Despite these challenges, KeyBanc expressed a positive long-term outlook for Indie Semiconductor, highlighting the company’s significant design wins in areas such as vision and radar. The firm believes Indie Semiconductor is well-positioned to outperform auto market growth once it overcomes current cyclical headwinds.
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