RFID manufacturer Impinj (NASDAQ: PI) will be announcing earnings results this Wednesday after the bell. Here’s what you need to know.
Impinj beat analysts’ revenue expectations by 4.3% last quarter, reporting revenues of $97.89 million, down 4.5% year on year. It was a stunning quarter for the company, with a significant improvement in its inventory levels and a beat of analysts’ EPS estimates.
Is Impinj a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Impinj’s revenue to decline 2.6% year on year to $92.76 million, a reversal from the 46.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.50 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Impinj has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 2.7% on average.
Looking at Impinj’s peers in the semiconductors segment, some have already reported their Q3 results, giving us a hint as to what we can expect. NXP Semiconductors’s revenues decreased 2.4% year on year, meeting analysts’ expectations, and Texas Instruments reported revenues up 14.2%, topping estimates by 1.9%. Texas Instruments traded down 5.7% following the results.
Read our full analysis of NXP Semiconductors’s results here and Texas Instruments’s results here.
There has been positive sentiment among investors in the semiconductors segment, with share prices up 9.4% on average over the last month. Impinj is up 33.2% during the same time and is heading into earnings with an average analyst price target of $206.63 (compared to the current share price of $240).
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