S&P 500 slips, but losses kept in check as Nvidia climbs ahead of results
Bal Kanwardev Raja Singh, the Senior Vice President and Chief Accounting Officer at indie Semiconductor (NASDAQ:INDI), a company currently valued at $570 million, has recently executed a series of stock transactions, according to a filing with the Securities and Exchange Commission. According to InvestingPro data, the stock appears undervalued despite falling nearly 60% over the past year. On March 7 and March 10, Singh sold a total of 3,473 shares of Class A Common Stock, generating approximately $10,038. The shares were sold at prices ranging from $2.85 to $2.90 each, with the stock currently trading at $2.74. InvestingPro analysis reveals significant price volatility, with the stock trading well below its 52-week high of $7.82.
These sales were part of a broader set of transactions, which also included the acquisition of shares through performance-based and restricted stock units. On March 6, Singh acquired 6,250 shares and an additional 1,442 shares on March 9, both at no cost, due to the achievement of certain performance criteria and vesting conditions.
Following these transactions, Singh’s direct ownership of indie Semiconductor shares stands at 77,694 shares. The sales were made to cover withholding taxes associated with the vesting of restricted stock units.
In other recent news, Indie Semiconductor Inc reported its fourth-quarter 2024 earnings, which aligned with analysts’ expectations, posting an earnings per share (EPS) of -$0.07. However, revenue slightly missed projections, coming in at $58 million against an anticipated $58.04 million. The company has set its revenue guidance for the first quarter of 2025 between $52.5 million and $57.5 million, with expected gross margins of 49-50%. Despite the revenue shortfall, Indie Semiconductor continues to focus on long-term growth, with significant product ramps anticipated in the second half of 2025.
KeyBanc Capital Markets recently adjusted its price target for Indie Semiconductor 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 uncertainties related to tariffs and a weaker macroeconomic environment. The company is facing challenges in Europe, where it is losing market share to Chinese OEMs. Nevertheless, KeyBanc’s analyst expressed a positive long-term outlook, citing the company’s significant design wins in areas like vision and radar.
Indie Semiconductor is also implementing operational efficiency measures, achieving a $2 million quarterly reduction in expenses. The company remains optimistic about its future, anticipating that the growth in vehicle semiconductor content will outpace vehicle production. Despite current challenges, Indie Semiconductor is positioned to benefit from megatrends in the automotive industry, including advancements in ADAS and electrification.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.