Weekly Research Analysts’ Ratings Updates for Impinj (PI)

Several analysts have recently updated their ratings and price targets for Impinj (NASDAQ: PI):

  • 5/5/2022 – Impinj was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $59.00 price target on the stock. According to Zacks, “Impinj, Inc. is a provider of referral and information network radio frequency identification solutions to the retail, pharmaceutical, healthcare, food and beverage and other industries. The company’s products include Indy Reader Chips which consists of integrated radio chips and supporting SDKs; Monza Tag Chips, which deliver memory options and extended features to RFID tags and Speedway fixed RFID readers and antennas for RFID-based information. Impinj, Inc. is based in Seattle, Washington. “
  • 4/28/2022 – Impinj had its price target lowered by analysts at Lake Street Capital from $100.00 to $87.00.
  • 4/28/2022 – Impinj had its price target lowered by analysts at Roth Capital from $95.00 to $76.00.
  • 4/27/2022 – Impinj had its price target lowered by analysts at Piper Sandler from $100.00 to $80.00.
  • 3/31/2022 – Impinj is now covered by analysts at StockNews.com. They set a “sell” rating on the stock.
  • 3/28/2022 – Impinj had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $102.00 to $90.00. They now have a “buy” rating on the stock.

PI stock traded up $1.08 during mid-day trading on Tuesday, hitting $47.24. 6,000 shares of the company were exchanged, compared to its average volume of 372,772. Impinj, Inc. has a 1-year low of $39.69 and a 1-year high of $94.39. The stock has a market capitalization of $1.20 billion, a PE ratio of -22.18 and a beta of 2.40. The business has a 50 day simple moving average of $54.95 and a 200-day simple moving average of $70.11.

Impinj (NASDAQ:PIGet Rating) last posted its quarterly earnings data on Wednesday, April 27th. The company reported $0.09 earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.58. Impinj had a negative return on equity of 89.38% and a negative net margin of 26.39%. During the same quarter in the previous year, the business posted ($0.30) EPS. Sell-side analysts predict that Impinj, Inc. will post -1.48 earnings per share for the current year.

In related news, CEO Chris Ph.D. Diorio sold 5,000 shares of Impinj stock in a transaction that occurred on Wednesday, February 16th. The shares were sold at an average price of $70.00, for a total transaction of $350,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Cary Baker sold 1,473 shares of the stock in a transaction that occurred on Friday, February 25th. The shares were sold at an average price of $67.35, for a total transaction of $99,206.55. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,752 shares of company stock valued at $1,362,007. 24.70% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the company. Invesco Ltd. raised its position in Impinj by 2,395.8% during the 4th quarter. Invesco Ltd. now owns 1,021,388 shares of the company’s stock worth $90,597,000 after purchasing an additional 980,464 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of Impinj during the fourth quarter worth about $53,585,000. Victory Capital Management Inc. lifted its stake in shares of Impinj by 430.3% in the first quarter. Victory Capital Management Inc. now owns 596,683 shares of the company’s stock worth $37,914,000 after acquiring an additional 484,163 shares during the period. Wasatch Advisors Inc. boosted its holdings in Impinj by 155.7% in the fourth quarter. Wasatch Advisors Inc. now owns 386,212 shares of the company’s stock valued at $34,257,000 after acquiring an additional 235,142 shares during the last quarter. Finally, Norges Bank acquired a new stake in Impinj during the 4th quarter valued at approximately $19,053,000. 88.00% of the stock is currently owned by hedge funds and other institutional investors.

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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