indie Semiconductor, Inc. (INDI) Stock Price & Analysis
indie Semiconductor, Inc. (INDI) is trading at USD 1.8, up 2.86% today, as of October 29, 2026 at 18:06 UTC (US market open; quotes may be delayed), according to Nexqual market data.
INDI last closed at USD 1.75; today's session has ranged USD 1.7–1.83 on volume of 1,863,099 shares. Market capitalization is $417.26M, with a 52-week range of USD 1.54–5.61 (NCM). Source: Nexqual, retrieved October 29, 2026 at 18:06 UTC.
Also available as compact Markdown for AI agents: nexqual.com/INDI.md
Key facts (INDI)
- Last four reported quarters (through Jun 30, 2026): revenue $231M, net income -$150M (-64.8% margin), free cash flow -$83.8M (SEC filings).
- Analysts: Buy (mean 2.13 on a 1–5 scale) (8 analysts), mean target USD 4.97 (range 1.75–8).
- Total return with dividends: 1Y -68.7% vs S&P 500 +12.8%; 5Y -86.3% vs S&P 500 +78.6%.
- Next earnings: 2026-11-05, EPS estimate USD -0.04, revenue estimate $70.2M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (INDI)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $48.4M | $111M | $223M | $217M | $217M | $231M |
| Gross profit | $19.7M | $50.3M | $89.6M | $90.3M | $86.6M | — |
| Operating income | -$74.8M | -$119M | -$135M | -$170M | -$154M | -$146M |
| Net income | -$88.0M | -$43.4M | -$118M | -$133M | -$143M | -$150M |
| EPS (diluted) | -$1.26 | -$0.37 | -$0.81 | -$0.76 | -$0.73 | — |
| Free cash flow | -$58.5M | -$84.3M | -$117M | -$72.9M | -$71.4M | -$83.8M |
| Gross margin | 40.7% | 45.4% | 40.1% | 41.7% | 39.9% | — |
| Operating margin | -154.5% | -107.5% | -60.7% | -78.5% | -70.9% | -63.3% |
| Net margin | -181.9% | -39.2% | -52.7% | -61.2% | -65.8% | -64.8% |
| Revenue growth | +114.1% | +128.9% | +101.4% | -2.9% | +0.3% | — |
| Cash + short-term investments | $219M | $322M | $152M | $274M | $145M | — |
| Total debt | $7.9M | $171M | $161M | $381M | $353M | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (INDI)
P/S 1.8x · EV/Sales 3.0x · P/B 1.4x · FCF yield -20.06% · Earnings yield -35.86% · Net debt $277M · EV $695M
Analysts (INDI)
Consensus Buy (mean 2.13 on a 1–5 scale), 8 analysts; mean target USD 4.97 (low 1.75, high 8).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | B. Riley Securities | Target lowered | Buy | $6 → $5 |
| 2026-10-19 | TD Cowen | Target lowered | Hold | $4.5 → $2 |
| 2026-07-13 | TD Cowen | Target raised | Hold | $4 → $4.5 |
Total return (dividends reinvested) (INDI)
| 1Y (from 2025-10-29) | 5Y (from 2021-10-25) | |
|---|---|---|
| Total return | -68.7% | -86.3% |
| S&P 500 (SPY) | +12.8% | +78.6% |
| Per year | -68.8% | -32.8% |
| Volatility (annualized) | 82.4% | 75.8% |
| Max drawdown | -72.4% (Oct 2025→Oct 2026) | -89.6% (Nov 2021→Mar 2025) |
INDI earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | −$0.05 | −$0.05 | In line | — |
| — | Quarter ended Mar 31, 2026 | −$0.06 | −$0.07 | Beat +14.3% | — |
| — | Quarter ended Dec 31, 2025 | −$0.07 | −$0.07 | In line | — |
| — | Quarter ended Sep 30, 2025 | −$0.07 | −$0.06 | Miss −16.7% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).
INDI recent SEC filings (last 120 days)
| Filed | Form | What it says |
|---|---|---|
| Aug 14, 2026 | Schedule 13G/A | FRONTIER CAPITAL MANAGEMENT CO.,LLC: 7.5% of shares, passive 5%+ holder (amended) |
| Aug 7, 2026 | 8-K/A | Regulation FD disclosure |
| Aug 7, 2026 | 10-Q | Quarterly report · period ended Jun 30, 2026 |
| Aug 7, 2026 | Schedule 13G | STATE STREET CORPORATION, SSGA FUNDS MANAGEMENT, INC.: 8.8% of shares, passive 5%+ holder |
| Aug 6, 2026 | 8-K | Quarterly results; Regulation FD disclosure |
| Jul 28, 2026 | Schedule 13G/A | BlackRock, Inc.: 8.7% of shares, passive 5%+ holder (amended) |
Source: SEC EDGAR. Quotes are the opening words of each item as filed; each form links to the filing. Insider Form 4 filings are listed in the insider sections.
INDI suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | TSMC (TSM) | “Our primary foundry partners are TSMC, Global Foundries, X-FAB and HHGrace and we may add foundries as our product portfolio evolves.” |
| Customer | Microelectronics | “As a result of the deconsolidation, we will no longer recognize revenue from Wuxi's business or Wuxi's other results of operations and may also recognize a pre-tax gain/loss when reporting our financial results.” |
| Competitor | Infineon | “Our primary competitors are other automotive-focused semiconductor companies, including Infineon, Monolithic Power Systems, NXP, Renesas and ST Microelectronics.” |
| Competitor | NXP Semiconductors (NXPI) | “Our primary competitors are other automotive-focused semiconductor companies, including Infineon, Monolithic Power Systems, NXP, Renesas and ST Microelectronics.” |
| Competitor | Renesas | “Our primary competitors are other automotive-focused semiconductor companies, including Infineon, Monolithic Power Systems, NXP, Renesas and ST Microelectronics.” |
Quoted from the company's 10-K filed Feb 27, 2026.
INDI company outlook (results filed Aug 6, 2026)
- “For the third quarter of 2026, indie expects revenue to be between $67 million and $73 million.”
- “At the midpoint of this outlook, the Company anticipates 30 percent year-over-year growth with approximately $40 million from the core business and $30 million from Wuxi indie Micro. indie's Q2 2026 Conference Call indie Semiconductor will host a conference call with analysts to discuss its second quarter 2026 results and business outlook today at 5:00 p.m.”
Analysts expect $70.2M for the current quarter, 0.3% above the midpoint of the company's guidance ($70.0M).
Quoted word-for-word from the SEC 8-K results press release.
INDI analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $-0.04 | $-0.03 | −$0.01 | $70.2M | 8 |
| Next quarter (ends Dec 2026) | $-0.02 | $-0.01 | −$0.01 | $76.9M | 8 |
| Current fiscal year (ends Dec 2026) | $-0.17 | $-0.16 | −$0.01 | $266.5M | 8 |
| Next fiscal year (ends Dec 2027) | $0.08 | $0.14 | -44.5% | $354.7M | 4 |
Key Statistics (as of October 29, 2026 at 18:06 UTC)
| Price | USD 1.8 |
|---|---|
| Change | ▲ 2.86% (up) |
| Previous Close | USD 1.75 |
| Open | USD 1.73 |
| Day Range | USD 1.7 – 1.83 |
| 52-Week Range | USD 1.54 – 5.61 |
| Volume | 1,863,099 shares |
| Market Cap | $417.26M |
| Exchange | NCM |
Technical Analysis (INDI)
Nexqual's technical model rates INDI "SELL" based on 1 bullish and 5 bearish signals across 128 daily candles, as of October 29, 2026 at 18:06 UTC.
| Overall Signal | SELL |
|---|---|
| RSI (14) | 28.65 (oversold) |
| vs SMA50 | Below (USD 2.89) |
| MACD | -0.36 (negative) |
Analyst Ratings (INDI)
Wall Street analysts rate INDI "Buy" based on 8 analysts, with a mean price target of USD 4.97 (range USD 1.75–8), per Nexqual as of October 29, 2026 at 18:06 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 8 |
| Mean Target | USD 4.97 |
| High Target | USD 8 |
| Low Target | USD 1.75 |
| Buy / Hold / Sell | 6 / 2 / 0 |
Earnings (INDI)
| Next Earnings Date | 2026-11-05 |
|---|---|
| EPS Estimate | USD -0.04 |
| Revenue Estimate | $70.18M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD -0.05 vs est -0.05 ▲ beat |
| 2026-03-31 | USD -0.06 vs est -0.07 ▲ beat |
| 2025-12-31 | USD -0.07 vs est -0.07 ▼ miss |
| 2025-09-30 | USD -0.07 vs est -0.06 ▼ miss |
Source: Nexqual, October 29, 2026 at 18:06 UTC.
Financials & Fundamentals (INDI)
| Total Revenue | $231.15M |
|---|---|
| Revenue Growth (latest quarter, YoY) | +24.00% |
| Gross Margin | -27.05% |
| Operating Margin | -54.81% |
| Profit Margin | -64.79% |
| ROE | -42.86% |
| Debt / Equity | 1.34 |
| Current Ratio | 3.65 |
| Total Cash | $138.98M |
| Total Debt | $431.30M |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | -$83.75M (-36.2% of revenue) |
Source: Nexqual, October 29, 2026 at 18:06 UTC.
Financial Health Score (INDI)
Nexqual rates indie Semiconductor, Inc.'s overall financial health "Weak" across five dimensions, as of October 29, 2026 at 18:06 UTC.
| Growth | Mixed — Revenue +0.3% YoY (annual), slow |
|---|---|
| Profitability | Weak — Gross margin 38%, operating -63% (last 4 quarters to Jun 2026, SEC) |
| Balance Sheet | Mixed — $139M cash and investments vs $416M debt (Jun 2026, SEC) |
| Cash Flow | Weak — FCF negative: -$84M (last 4 quarters to Jun 2026, SEC), burning cash |
| Efficiency | Critical — ROE -51%, ROA -17.8% (last 4 quarters, SEC) |
Ownership (INDI)
| Insider Ownership | +1.60% |
|---|---|
| Institutional Ownership | +112.51% |
| Shares Outstanding | 217.93M |
| Float | 214.85M |
| Short % of Float | +29.80% |
Source: Nexqual, October 29, 2026 at 18:06 UTC.
Leadership (INDI)
indie Semiconductor, Inc. is led by Donald McClymont, Co-Founder, CEO & Director, per Nexqual as of October 29, 2026 at 18:06 UTC.
| Co-Founder, CEO & Director | Donald McClymont |
|---|---|
| CFO, Chief Accounting Officer & Executive VP | Naixi Wu |
| Chief Operating Officer | Michael Wittmann |
| Chief Technology Officer | Scott David Kee |
| Executive Vice President of Global Sales | Robert Bloomquist |
Major Backers & Investors (INDI)
Notable institutional backers of indie Semiconductor, Inc. include Primecap Management Company, BAMCO Inc., PRIMECAP Odyssey Funds-PRIMECAP Odyssey Aggressive Growth Fund, according to Nexqual as of October 29, 2026 at 18:06 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Primecap Management Company | 14.51% |
| BAMCO Inc. | 10.56% |
| PRIMECAP Odyssey Funds-PRIMECAP Odyssey Aggressive Growth Fund | 9.52% |
| Granahan Investment Management LLC | 8.91% |
| BARON INVESTMENT Fd.S TRT -Baron Opportunity Fd. | 7.77% |
| Frontier Capital Management Company LLC | 7.3% |
| Elemental Capital Partners LLC | 6.14% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 8.74% |
| State Street | 8.49% |
| Vanguard Group | 6.71% |
Source: Nexqual, October 29, 2026 at 18:06 UTC.
From indie Semiconductor, Inc.'s Latest SEC 10-K Filing (filed 2026-02-27)
Key Strengths & Strategy (as disclosed to the SEC)
- Through our proprietary design flow, we also support advanced algorithm development and seamless hardware–software co‑development, accelerating innovation and system integration for our customers.
- Our future success and competitive position depend in part upon our ability to obtain and maintain protection of our proprietary technologies.
- Over the past 10 years, we have built trusted relationships with Tier 1 automotive suppliers.
- We have built a nimble global network of foundry, test and assembly partners that provide us with the ability to deliver superior supply chain operations.
Partnerships
- In May 2025, indie entered into a non-binding agreement with United Faith Auto-Engineering Co., Ltd., a publicly-listed company in the People's Republic of China ("United Faith"), to sell up to all of our 34.38% equity interest in Wuxi.
- On June 10, 2021, we completed a series of transactions (the "Transaction") with Thunder Bridge Acquisition II, Ltd ("TB2") pursuant to the Master Transactions Agreement dated December 14, 2020, as amended on May 3, 2021 (the "MTA").
Legal & Regulatory Risks (Item 1A, quoted)
- We may be adversely affected by product defects and product liability or warranty claims.
- We are subject to export restrictions and laws affecting trade and investments which could materially and adversely affect our business and results of operations.
- Changes in tax rates or laws or additional tax liabilities could adversely affect our business.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| NVTS | Navitas Semiconductor Corporati | USD 9.12 | ▼ 2.52% |
| POWI | Power Integrations, Inc. | USD 49.04 | ▼ 0.57% |
| DIOD | Diodes Incorporated | USD 87.45 | ▼ 2.07% |
| VSH | Vishay Intertechnology, Inc. | USD 29.42 | ▼ 1.67% |
| SYNA | Synaptics Incorporated | USD 117.97 | ▼ 0.45% |
| PI | Impinj, Inc. | USD 173.77 | ▼ 1.54% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 29, 2026 at 18:06 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt