Indie Semiconductor (INDI -22.73%) stock is falling fast in Tuesday's trading. The chip specialist's share price was down by 20.7% as of 2:45 p.m.
indie Semiconductor NASDAQ: INDI is a small-cap chip stock that has had a rough go of it in 2024. Shares are down 43% this year.
indie Semiconductor, Inc. (INDI) Q3 2024 Earnings Call Transcript
Indie Semiconductor, Inc. (INDI) came out with a quarterly loss of $0.09 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.08 per share a year ago.
The highly specialized chipmaker is attempting to shave costs. These efforts have reached the C-suite.
The most oversold stocks in the information technology sector presents an opportunity to buy into undervalued companies.
Indie Semiconductor, Inc. (INDI) came out with a quarterly loss of $0.09 per share in line with the Zacks Consensus Estimate. This compares to loss of $0.11 per share a year ago.
indie Semiconductor, Inc. (NASDAQ:INDI ) Q2 2024 Earnings Conference Call August 8, 2024 5:00 PM ET Company Participants Ashish Gupta - Investor Relations Don McClymont - Co-Founder and Chief Executive Officer Raja Bal - Acting Chief Financial Officer, and Chief Accounting Officer Mark Tyndall - Head of Corporate Development and Investor Relations Conference Call Participants Suji Desilva - Roth Capital Partners Ross Seymore - Deutsche Bank Anthony Stoss - Craig-Hallum Craig Ellis - B. Riley Jon Tanwanteng - CJS Securities Cody Acree - Benchmark Operator Good afternoon and welcome to indie Semiconductor's Second Quarter 2024 Earnings Call.
Indie Semiconductors offers semiconductor and software automation solutions with global reach. I think that collaboration with Expedera, efficiency improvements, scalability growth, and lower power consumption are unlevered FCF drivers. Indie Semiconductor's recent acquisitions, inorganic growth strategy, and strong relationships with Top Tier 1 automotive suppliers contribute to future net sales growth.
The U.S. and Europe recently implemented tariffs on Chinese EVs, which could lower adoption for cash-strapped consumers. Warren Buffett continues to sell his big EV holding.
indie Semiconductor, Inc. has a massive growth opportunity ahead despite recent market headwinds in the automotive semiconductor industry. The company's sales growth could be flat in the June quarter, but its backlog is estimated to be over 4 times its market cap. The stock is trading at a low valuation compared to its sales targets, making it an attractive investment for the future.
Bloomberg reported Indie has hired advisors to explore options, including a potential sale. Indie has assembled an array of automotive chip technologies.