RFID manufacturer Impinj (NASDAQ: PI) will be reporting results this Wednesday after market close. Here’s what to look for.
Impinj beat analysts’ revenue expectations last quarter, reporting revenues of $74.25 million, flat year on year. It was a satisfactory quarter for the company, with a solid beat of analysts’ operating income estimates but an increase in its inventory levels.
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 grow 6.9% year on year, a reversal from the 4.5% 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 will 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 Q2 results, giving us a hint as to what we can expect. Texas Instruments delivered year-on-year revenue growth of 22.8%, beating analysts’ expectations by 3.8%, and Intel reported revenues up 25.4%, topping estimates by 11.7%. Texas Instruments traded down 3.1% following the results while Intel was also down 12.2%.
Read our full analysis of Texas Instruments’s results here and Intel’s results here.
Over the past year, investors have repeatedly shifted their focus from one macro narrative to another (AI disruption and AI capex spending to geopolitics, interest rates, and the broader health of the economy). Investors in semiconductors stocks haven’t been spared in this environment as share prices are down 17.1% on average over the last month. Impinj is down 2.4% during the same time and is heading into earnings with an average analyst price target of $175 (compared to the current share price of $130.10).
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