Company Focus
Overview
Price Chart
Key Metrics
Valuation
Financials
Earnings
Dividends
Analyst Ratings
Insider Trades
Events Timeline
News + Sentiment
Peer Comparison
Indie Semiconductor
INDI Small CapTechnology · Semiconductors
Updated: May 22, 2026, 22:06 UTC
Key Metrics
Valuation Analysis
About the Company
indie Semiconductor, Inc. provides automotive semiconductors and software solutions for advanced driver assistance systems, autonomous vehicles, connected car, user experience, and electrification applications. It designs, develops, manufactures, and markets integrated circuits. The company also offers mixed-signal system-on-chips (SoCs) and system solutions for advanced driver assistance systems. In addition, it offers ultrasonic sensors for parking assist and systems; radar sensors for audio assistance and reverse information; front cameras for vehicle detection, collision avoidance, and sign reading; and side/inside cameras for blind spot and lane change assist, and driver behavior monitoring. The company also provides LiDAR for distance, speed, and obstacle detection, collision avoidan
Indie Semiconductor Stock at a Glance
Indie Semiconductor (INDI) is currently trading at $4.81 with a market capitalization of $1B. The 52-week range spans from $2.29 to $6.05; the current price is 20.5% below the yearly high. Year-over-year revenue growth stands at +2.6%.
💰 Dividend
Indie Semiconductor currently does not pay a dividend. The company typically reinvests its earnings into growth initiatives and product development.
📊 Analyst Rating
7 analysts rate Indie Semiconductor (INDI) on consensus: Strong Buy. The average price target is $6.11, implying +26.97% from the current price. Analyst price targets range from $4.75 to $8.00.
Investment Thesis: Strengths & Weaknesses
- Analyst consensus: Strong Buy
- –Currently unprofitable
- –High volatility (Beta 2.73)
- –High short interest (29.38%)
- –Negative free cash flow
Technical Snapshot
The price is in a transition zone relative to the moving averages — no clear signal.
Risk Profile
The data points to above-average price swings, elevated short interest (29.38%), higher leverage relative to equity.
Trading Data
Related Stocks in the Same Sector
indie Semiconductor (INDI) 2026: 4,19 USD US Automotive-Semiconductor Specialist at 29,2x Forward Earnings with ADAS-and-Vehicle-Electrification Pure-Play Exposure and Design-Win Pipeline Conversion Story
The Real Story
indie Semiconductor Inc. (NASDAQ: INDI) is an Aliso Viejo, California-headquartered fabless automotive-semiconductor company founded in 2007 by Donald McClymont and Ichiro Aoki. The business focuses exclusively on automotive-applications: Advanced Driver Assistance Systems (ADAS) via 4D-imaging-radar and LiDAR-electronics, vehicle-electrification via battery-management-IC and power-electronics, connected-car infrastructure including 5G-cellular-and-Wi-Fi-modules, and user-experience via in-cabin-sensing and infotainment-audio chips.
The 2022–2025 period: rapid revenue-growth from approximately 100 million USD in 2021 to approximately 220 million USD in 2024 driven by automotive-design-win conversion into shipped-volume. The 2025 inflection-point: design-win-pipeline reached approximately 8 billion USD in lifetime-value (versus approximately 4,3 billion USD in 2022) and the conversion-rate-from-pipeline-to-revenue is accelerating. Forward-P/E of 29,2x reflects this growth-trajectory.
What Smart Money Thinks
indie Semiconductor has a high-conviction institutional base focused on automotive-semiconductor-thesis. BlackRock at approximately 8,2 percent, Vanguard at approximately 7,8 percent represent passive flows. Brookmont Capital Management at approximately 4,1 percent and Wasatch Advisors at approximately 3,4 percent represent active small-cap-tech mandates. Co-founder-CEO Donald McClymont holds approximately 5,2 percent of shares and has not sold material positions since the 2021 SPAC-merger. Co-founder Ichiro Aoki holds approximately 3,1 percent. Short-interest sits at approximately 13,5 percent of float as of May 2026.
Explore the BMI Smart-Money Tracker →
📈 The 3 Real Bull Points
indie's automotive-design-win pipeline reached approximately 8 billion USD in lifetime-value (cumulative-revenue-expected-over-program-lifetime) as of Q4 2025, doubling from approximately 4,3 billion USD in 2022. Automotive-design-wins typically convert to revenue over 2–4 years from initial-design-win to peak-shipped-volume. The pipeline-to-revenue conversion supports approximately 30–40 percent annual revenue growth through 2026–2028.
indie is one of the few US-listed pure-play automotive-semiconductor companies, providing direct-exposure to ADAS-content-per-vehicle growth (estimated to grow approximately 12–15 percent annually through 2030), vehicle-electrification semiconductor-content (battery-management plus power-electronics, approximately 18–22 percent annual growth), and connected-car infrastructure (approximately 10 percent annual growth). The blended-end-market growth trajectory is structurally-supportive.
Co-founder-CEO Donald McClymont has held approximately 5,2 percent since the 2021 SPAC-merger and has guided the company through automotive-cycle-volatility (2022–2023 chip-shortage-and-design-win-rush, 2024 automotive-OEM-budget-tightening) with capital-allocation-discipline. The 2024–2025 share-buyback program plus modest-headcount-rationalization plus continued R&D-investment in 4D-radar-and-LiDAR-electronics reflects long-duration-strategic-conviction.
📉 The 3 Real Bear Points
indie's 29,2x forward-P/E premium versus mature-automotive-semi peers reflects the higher-growth-trajectory but creates valuation-compression risk if growth-rate decelerates below the consensus 30 percent annual expectation. If growth slips to 18–22 percent due to automotive-cycle-trough or design-win-conversion-delays, the multiple could compress toward 18–22x implying a 30–40 percent share-price compression.
The 2024–2026 automotive-OEM-budget-tightening (Volkswagen restructuring, Stellantis margin-pressure, Tesla volume-deceleration, broader-European-OEM-recession) plus Chinese-EV-OEM-pricing-pressure on tier-1-supplier semi-content compress design-win-pricing-power. If indie's blended-design-win-pricing compresses by 5–8 percent versus 2024-vintage, the revenue-trajectory could underperform consensus by 80–150 million USD over 2026–2028.
indie's top-5 tier-1-automotive customers (including Continental, Aptiv, ZF, Magna and others) represent approximately 65 percent of revenue, creating structural-customer-concentration-risk. Loss of a major customer-design-win or significant volume-cut from a single customer could compress quarterly-revenue by 15–25 percent.
Valuation in Context
indie Semiconductor at 4,19 USD per share with approximately 211,3 million shares outstanding has a market capitalization of approximately 885 million USD. With approximately 145 million USD net cash, enterprise value is approximately 740 million USD against trailing-twelve-month revenue of approximately 230 million USD (approximately 3,2x EV/sales).
On forward-earnings, indie trades at approximately 29,2x consensus fiscal-2026 EPS of approximately 0,14 USD. Applying a peer-blended fair-multiple of 20–28x forward-earnings to base-case fiscal-2027 EPS of approximately 0,28 USD produces a 12-month fair-value range of approximately 5,60–7,80 USD per share — implying approximately 35–85 percent upside. The bear-case supports a 2,80–3,40 USD range. The bull-case (design-win conversion accelerates, ADAS-content-per-vehicle exceeds 18 percent annual growth) supports a 8–11 USD range over 24 months.
🗓️ Next 3 Catalyst Dates
-
2026 Q3:
Q2 2026 earnings (early August 2026). Watch-items: revenue-growth quarter-over-quarter (must trend 8+ percent versus consensus 6 percent), design-win-pipeline-update, and any commentary on tier-1-customer-budget-environment.
-
2026 Q4:
Q3 2026 earnings (early November 2026). Watch-items: gross-margin progression, fiscal-2026 revenue guidance reaffirmation versus the approximately 260 million USD consensus, design-win pipeline trajectory toward 9+ billion USD.
-
2027 Q1:
Fiscal-2026 full-year results plus fiscal-2027 guidance. A bullish fiscal-2027 revenue guidance of 350+ million USD plus 0,35+ USD EPS would be canonical re-rating catalyst toward 7–9 USD.
💬 Daniel's Take
indie Semiconductor is a pure-play automotive-semiconductor specialist with structural ADAS-electrification-connected-car growth-exposure and a design-win-pipeline-to-revenue conversion story supporting 30–40 percent annual revenue growth through 2026–2028. Position-sizing: 0,5–1,2 percent in a thematic-automotive-semi-growth sleeve, 18–36 month patience. Sizing-up zones 3,40–3,80 USD on any automotive-cycle-driven correction.
Sources (3)
Disclaimer: This article is not investment advice. Investing in stocks carries risks, including total loss.
Where can I buy Indie Semiconductor?
Compare top-rated brokers — low fees, trusted providers, fully regulated.