- Impinj, Inc (NASDAQ:PI) shares are trading lower Thursday after releasing mixed first-quarter results and an outlook that trailed expectations.
- Impinj clocked revenue growth of 61% year-on-year to $85.9 million Wednesday, beating the consensus of $83.6 million.
- The adjusted gross margin declined by 460 bps to 52.4% as costs jumped 73.9% Y/Y.
- Adjusted EPS of $0.30 missed the consensus of $0.33.
- “Our first-quarter results were solid, with record revenue and a very strong multi-quarter endpoint IC backlog,” said Chris Diorio, Impinj co-founder and CEO.
- Outlook: Impinj expects Q3 revenue of $84.0 million – $87.0 million (consensus $88.29 million) and adjusted EPS of $0.28 – $0.33 (consensus $0.41).
- Analyst Ratings: Needham analyst James Ricchiuti maintains Impinj with a Buy and lowers the price target from $151 to $145.
- Lake Street analyst Troy Jensen maintains Impinj with a Buy and lowers the price target from $135 to $130.
- Roth MKM analyst Scott Searle maintains Impinj with a Buy and lowers the price target from $135 to $115.
- Price Action: PI shares traded lower by 34.50% at $88.70 on the last check Thursday.
McEwen Copper Completes Oversubscribed $81.85M Offering Including A $25M Investment By Nuton, A Rio Tinto Venture
TORONTO, Aug. 31, 2022 (GLOBE NEWSWIRE) -- McEwen Copper Inc., a subsidiary of McEwen Mining Inc. (NYSE:MUX) (TSX:MUX), is pleased to announce the closing of the third and final tranche of the previously
