Author: PATRICK SEITZ
Source
Tracking-chip maker Impinj (PI) late Wednesday edged above Wall Street’s targets for the fourth quarter. Impinj stock rose in extended trading.
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The Seattle-based company earned an adjusted 41 cents a share on sales of $76.6 million in the December quarter. Analysts polled by FactSet had expected earnings of 40 cents a share on sales of $75.1 million. On a year-over-year basis, Impinj earnings soared 156% while sales jumped 46%.
On Jan. 10, Impinj raised its fourth-quarter sales outlook.
For the current quarter, Impinj predicted earnings of 33 cents a share on sales of $83.5 million. That’s based on the midpoint of its guidance. Wall Street had projected earnings of 33 cents a share on sales of $77.4 million in the first quarter.
Impinj Stock On Tech Leaders List
In after-hours trading on the stock market today, Impinj stock climbed 2.3% to 128. During the regular session Wednesday, Impinj stock fell 3% to close at 125.08.
Impinj makes tiny tracking chips that can connect items to the internet cloud for customers in retail, transportation, logistics and other industries. Its chips are used mostly for inventory management now. But the company is expanding the capabilities of its chips to services such as retail self-checkout, loss prevention and anti-counterfeiting.
Impinj stock ranks eighth out of 34 stocks in IBD’s fabless semiconductor industry group, according to IBD Stock Checkup. Further, it has an IBD Composite Rating of 93 out of 99. IBD’s Composite Rating combines five separate proprietary ratings into one easy-to-use rating. The best growth stocks have a Composite Rating of 90 or better.
Impinj stock also is on the IBD Tech Leaders list.
Monolithic Beats Estimates, Hikes Dividend
Another fabless chipmaker on IBD’s Tech Leaders list is Monolithic Power Systems (MPWR). Monolithic also reported fourth-quarter results late Wednesday.
The Kirkland, Wash.-based company earned an adjusted $3.17 a share, up 50% year over year and topping estimates for $3.13, in the December quarter. Sales rose 37% to $460 million, in line with views.
For the first quarter, Monolithic forecast sales of $440 million to $460 million. The midpoint of $450 million is above Wall Street’s target of $447.9 million.
The company also announced an increase in its quarterly cash dividend to $1 a share from 75 cents.
Monolithic stock jumped 3.9% to 481.19 in late trading.
Monolithic stock is tied for first place in the fabless chipmaker group, with a Composite Rating of 98.
Follow Patrick Seitz on Twitter at @IBD_PSeitz for more stories on consumer technology, software and semiconductor stocks.
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