RFID manufacturer Impinj (NASDAQ:PI) will be reporting results tomorrow after market hours. Here’s what investors should know.
Impinj beat analysts’ revenue expectations by 2.4% last quarter, reporting revenues of $95.2 million, up 46.4% year on year. It was a very 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 grow 31.4% year on year to $92.83 million, a reversal from the 7.8% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.48 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 a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 2.4% on average.
Looking at Impinj’s peers in the semiconductors segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Texas Instruments’s revenues decreased 1.7% year on year, beating analysts’ expectations by 3.3%, and NXP Semiconductors reported a revenue decline of 9.1%, in line with consensus estimates. Texas Instruments traded down 7.5% following the results.
Read our full analysis of Texas Instruments’s results here and NXP Semiconductors’s results here.
Stocks, especially growth stocks where cash flows further in the future are more important to the story, had a good 2024. An economic soft landing (so far), the start of the Fed's rate cutting campaign, and the election of Donald Trump were positives for the market, and while some of the semiconductors stocks have shown solid performance, the group has generally underpeformed, with share prices down 4.5% on average over the last month. Impinj is down 19.1% during the same time and is heading into earnings with an average analyst price target of $231.44 (compared to the current share price of $123.19).
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