RFID manufacturer Impinj (NASDAQ: PI) will be announcing earnings results this Wednesday after the bell. Here’s what investors should know.
Impinj beat analysts’ revenue expectations by 3.7% last quarter, reporting revenues of $74.28 million, down 3.3% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ EPS estimates and a solid beat of analysts’ adjusted operating income estimates.
Is Impinj a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Impinj’s revenue to decline 8.4% year on year to $93.86 million, a reversal from the 19.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.70 per share.
The majority of analysts covering the company have 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 2.3% on average.
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 16.4%, beating analysts’ expectations by 2%, and NXP Semiconductors reported a revenue decline of 6.4%, topping estimates by 0.8%. Texas Instruments traded down 13.3% following the results while NXP Semiconductors’s stock price was unchanged.
Read our full analysis of Texas Instruments’s results here and NXP Semiconductors’s results here.
There has been positive sentiment among investors in the semiconductors segment, with share prices up 4.9% on average over the last month. Impinj is up 15.1% during the same time and is heading into earnings with an average analyst price target of $133.57 (compared to the current share price of $127.80).
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