Impinj (NASDAQ:PI) Given New $80.00 Price Target at Piper Sandler

Impinj (NASDAQ:PIGet Rating) had its target price reduced by Piper Sandler from $100.00 to $80.00 in a research note released on Wednesday morning, The Fly reports.

A number of other equities research analysts have also weighed in on the company. Canaccord Genuity Group boosted their target price on Impinj from $95.00 to $100.00 and gave the company a buy rating in a research note on Wednesday, January 12th. Needham & Company LLC boosted their price target on Impinj from $63.00 to $96.00 and gave the company a buy rating in a report on Wednesday, January 12th. Canaccord Genuity Group boosted their price target on Impinj from $95.00 to $100.00 in a report on Wednesday, January 12th. StockNews.com began coverage on Impinj in a report on Thursday, March 31st. They set a sell rating on the stock. Finally, The Goldman Sachs Group reduced their price target on Impinj from $102.00 to $90.00 and set a buy rating on the stock in a report on Monday, March 28th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Buy and a consensus price target of $92.45.

NASDAQ PI opened at $50.62 on Wednesday. Impinj has a 1-year low of $39.69 and a 1-year high of $94.39. The stock has a 50-day moving average of $59.49 and a 200-day moving average of $70.70. The firm has a market cap of $1.24 billion, a PE ratio of -23.99 and a beta of 2.38.

Impinj (NASDAQ:PIGet Rating) last released its earnings results on Wednesday, April 27th. The company reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.58. Impinj had a negative return on equity of 53.78% and a negative net margin of 26.94%. During the same period last year, the firm posted ($0.30) earnings per share. On average, sell-side analysts anticipate that Impinj will post -1.76 earnings per share for the current year.

In other news, CEO Chris Ph.D. Diorio sold 9,626 shares of Impinj stock in a transaction dated Monday, February 14th. The stock was sold at an average price of $68.12, for a total value of $655,723.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Jeffrey Dossett sold 1,930 shares of Impinj stock in a transaction dated Wednesday, April 13th. The stock was sold at an average price of $52.39, for a total value of $101,112.70. Following the completion of the transaction, the executive now directly owns 52,224 shares of the company’s stock, valued at approximately $2,736,015.36. The disclosure for this sale can be found here. Insiders have sold 73,358 shares of company stock valued at $4,853,111 in the last quarter. 24.70% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the business. Arizona State Retirement System raised its position in Impinj by 3.1% in the 3rd quarter. Arizona State Retirement System now owns 4,918 shares of the company’s stock worth $281,000 after buying an additional 147 shares during the last quarter. Waterfront Wealth Inc. raised its position in Impinj by 2.8% in the 4th quarter. Waterfront Wealth Inc. now owns 8,616 shares of the company’s stock worth $764,000 after buying an additional 231 shares during the last quarter. Voya Investment Management LLC raised its position in Impinj by 3.7% in the 3rd quarter. Voya Investment Management LLC now owns 7,365 shares of the company’s stock worth $421,000 after buying an additional 264 shares during the last quarter. Citigroup Inc. raised its position in Impinj by 6.5% in the 3rd quarter. Citigroup Inc. now owns 4,925 shares of the company’s stock worth $281,000 after buying an additional 300 shares during the last quarter. Finally, Ironwood Investment Management LLC raised its position in Impinj by 1.6% in the 4th quarter. Ironwood Investment Management LLC now owns 28,269 shares of the company’s stock worth $2,507,000 after buying an additional 447 shares during the last quarter. 89.39% of the stock is owned by institutional investors and hedge funds.

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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