RFID manufacturer Impinj (NASDAQ: PI) will be announcing earnings results this Wednesday after market hours. Here’s what to look for.
Impinj met analysts’ revenue expectations last quarter, reporting revenues of $92.85 million, up 1.4% year on year. It was a slower quarter for the company, with revenue guidance for next quarter missing analysts’ expectations significantly and EPS in line with analysts’ estimates.
Is Impinj a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Impinj’s revenue to decline 2.3% year on year, in line with the 3.3% decrease it recorded in the same quarter last year.
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 rarely misses Wall Street’s revenue estimates.
Looking at Impinj’s peers in the semiconductors segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Texas Instruments delivered year-on-year revenue growth of 18.6%, beating analysts’ expectations by 6.6%, and Micron reported revenues up 196%, topping estimates by 20.1%. Texas Instruments traded up 19.4% following the results while Micron was down 3.8%.
Read our full analysis of Texas Instruments’s results here and Micron’s results here.
There has been positive sentiment among investors in the semiconductors segment, with share prices up 46.9% on average over the last month. Impinj is up 26.9% during the same time and is heading into earnings with an average analyst price target of $163.88 (compared to the current share price of $121.90).
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