Impinj, Inc. (NASDAQ:PI) Given Consensus Recommendation of “Buy” by Brokerages

Shares of Impinj, Inc. (NASDAQ:PI – Get Rating) have earned an average rating of “Buy” from the twelve brokerages that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $93.70.

PI has been the subject of a number of analyst reports. Piper Sandler upped their price objective on shares of Impinj from $90.00 to $100.00 in a research note on Monday, January 3rd. Canaccord Genuity Group increased their target price on Impinj from $95.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday, January 12th. Lake Street Capital upped their price target on Impinj from $76.00 to $100.00 in a research report on Tuesday, January 11th. The Goldman Sachs Group lowered their target price on Impinj from $102.00 to $90.00 and set a “buy” rating on the stock in a research note on Monday, March 28th. Finally, Needham & Company LLC boosted their price objective on shares of Impinj from $63.00 to $96.00 and gave the company a “buy” rating in a research report on Wednesday, January 12th.

NASDAQ:PI opened at $50.87 on Monday. Impinj has a 52-week low of $39.69 and a 52-week high of $94.39. The firm has a market cap of $1.24 billion, a P/E ratio of -24.11 and a beta of 2.38. The business’s 50-day moving average price is $63.44 and its 200 day moving average price is $71.21.

Impinj (NASDAQ:PI – Get Rating) last posted its quarterly earnings results on Wednesday, February 9th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.44) by $0.15. The firm had revenue of $52.57 million for the quarter, compared to analyst estimates of $52.00 million. Impinj had a negative net margin of 26.94% and a negative return on equity of 53.78%. During the same quarter in the previous year, the business posted ($0.59) earnings per share. On average, equities analysts anticipate that Impinj will post -1.72 earnings per share for the current fiscal year.

In other Impinj news, CFO Cary Baker sold 5,486 shares of the firm’s stock in a transaction that occurred on Monday, February 14th. The stock was sold at an average price of $68.01, for a total value of $373,102.86. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Cathal G. Phelan sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, February 11th. The shares were sold at an average price of $68.73, for a total value of $1,374,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,358 shares of company stock worth $4,853,111. 24.70% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Arizona State Retirement System raised its holdings in Impinj by 3.1% during the 3rd quarter. Arizona State Retirement System now owns 4,918 shares of the company’s stock worth $281,000 after purchasing an additional 147 shares during the last quarter. Waterfront Wealth Inc. grew its holdings in Impinj by 2.8% during the fourth quarter. Waterfront Wealth Inc. now owns 8,616 shares of the company’s stock valued at $764,000 after purchasing an additional 231 shares during the period. Voya Investment Management LLC raised its holdings in Impinj by 3.7% in the third quarter. Voya Investment Management LLC now owns 7,365 shares of the company’s stock worth $421,000 after purchasing an additional 264 shares during the period. Citigroup Inc. boosted its position in shares of Impinj by 6.5% during the third quarter. Citigroup Inc. now owns 4,925 shares of the company’s stock worth $281,000 after purchasing an additional 300 shares in the last quarter. Finally, Ironwood Investment Management LLC increased its position in shares of Impinj by 1.6% in the 4th quarter. Ironwood Investment Management LLC now owns 28,269 shares of the company’s stock valued at $2,507,000 after buying an additional 447 shares in the last quarter. Institutional investors and hedge funds own 89.39% of the company’s stock.

Impinj Company Profile (Get Rating)

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform, which comprises multiple product families, wirelessly connects individual items and delivers data about the connected items to business and consumer applications. The company's platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item.

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