Stock Story -
RFID manufacturer Impinj (NASDAQ:PI) will be reporting results tomorrow after the bell. Here's what to look for.
Impinj beat analysts' revenue expectations by 4.4% last quarter, reporting revenues of $76.83 million, down 10.6% year on year. It was a very strong quarter for the company, with a significant improvement in its inventory levels and an impressive beat of analysts' EPS estimates.
Is Impinj a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Impinj's revenue to grow 13.4% year on year to $97.51 million, slowing from the 43.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.74 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 a history of exceeding Wall Street's expectations, beating revenue estimates every single time over the past two years by 3.1% 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. NXP (NASDAQ:NXPI) Semiconductors's revenues decreased 5.2% year on year, meeting analysts' expectations, and Micron Technology (NASDAQ:MU) reported revenues up 81.5%, topping estimates by 2%. Micron Technology traded down 7.1% following the results.
Read the full analysis of NXP Semiconductors 's and Micron Technology's results on StockStory.
There has been positive sentiment among investors in the semiconductors segment, with share prices up 3.6% on average over the last month. Impinj is up 22.6% during the same time and is heading into earnings with an average analyst price target of $181 (compared to the current share price of $182).
