Impinj, Inc. (NASDAQ:PI) to Post FY2022 Earnings of ($0.60) Per Share, Jefferies Financial Group Forecasts

Impinj, Inc. (NASDAQ:PI – Get Rating) – Equities research analysts at Jefferies Financial Group upped their FY2022 earnings estimates for shares of Impinj in a research report issued to clients and investors on Wednesday, January 11th. Jefferies Financial Group analyst M. Lipacis now anticipates that the company will post earnings of ($0.60) per share for the year, up from their prior forecast of ($0.66). Jefferies Financial Group has a “Buy” rating and a $137.00 price target on the stock. The consensus estimate for Impinj’s current full-year earnings is ($0.66) per share. Jefferies Financial Group also issued estimates for Impinj’s Q4 2022 earnings at $0.04 EPS, Q1 2023 earnings at $0.02 EPS, Q2 2023 earnings at $0.01 EPS, Q3 2023 earnings at $0.05 EPS, Q4 2023 earnings at $0.05 EPS, FY2023 earnings at $0.12 EPS and FY2024 earnings at $0.47 EPS.

Impinj (NASDAQ:PI – Get Rating) last released its quarterly earnings data on Wednesday, October 26th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.17. Impinj had a negative net margin of 18.91% and a negative return on equity of 236.49%. The business had revenue of $68.27 million during the quarter, compared to the consensus estimate of $64.67 million.

A number of other research firms also recently issued reports on PI. Needham & Company LLC increased their price objective on shares of Impinj from $120.00 to $130.00 and gave the company a “buy” rating in a research note on Thursday. The Goldman Sachs Group raised their target price on shares of Impinj from $100.00 to $111.00 and gave the stock a “buy” rating in a report on Monday, December 5th. Lake Street Capital raised their target price on shares of Impinj from $109.00 to $132.00 in a report on Wednesday, January 11th. Canaccord Genuity Group lifted their price objective on shares of Impinj from $100.00 to $115.00 and gave the company a “buy” rating in a report on Friday, October 28th. Finally, Piper Sandler boosted their target price on shares of Impinj from $100.00 to $120.00 in a research note on Thursday, October 27th. One equities research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $117.29.

Impinj Stock Performance

Impinj stock opened at $123.21 on Monday. The firm has a market capitalization of $3.19 billion, a P/E ratio of -69.61 and a beta of 2.31. The company’s 50-day moving average is $114.35 and its 200 day moving average is $95.35. Impinj has a 1-year low of $39.74 and a 1-year high of $129.02. The company has a debt-to-equity ratio of 135.78, a current ratio of 7.73 and a quick ratio of 6.78.

Insider Buying and Selling at Impinj

In related news, CRO Jeffrey Dossett sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $127.55, for a total value of $255,100.00. Following the sale, the executive now directly owns 41,792 shares of the company’s stock, valued at $5,330,569.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CRO Jeffrey Dossett sold 2,000 shares of Impinj stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $127.55, for a total transaction of $255,100.00. Following the sale, the executive now owns 41,792 shares in the company, valued at $5,330,569.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Chris Ph.D. Diorio sold 5,000 shares of Impinj stock in a transaction that occurred on Monday, October 31st. The shares were sold at an average price of $116.97, for a total transaction of $584,850.00. Following the sale, the chief executive officer now owns 289,307 shares in the company, valued at approximately $33,840,239.79. The disclosure for this sale can be found here. In the last three months, insiders sold 497,613 shares of company stock worth $58,339,077. 20.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Impinj

Several institutional investors have recently bought and sold shares of the stock. Advisors Asset Management Inc. acquired a new stake in Impinj during the 1st quarter worth about $39,000. Vectors Research Management LLC bought a new stake in Impinj during the second quarter worth approximately $59,000. Great West Life Assurance Co. Can boosted its position in Impinj by 31.7% during the third quarter. Great West Life Assurance Co. Can now owns 1,104 shares of the company’s stock worth $88,000 after purchasing an additional 266 shares during the period. Quantbot Technologies LP bought a new stake in shares of Impinj in the first quarter valued at approximately $101,000. Finally, Asset Management One Co. Ltd. bought a new stake in shares of Impinj in the second quarter valued at approximately $151,000. Institutional investors and hedge funds own 97.32% of the company’s stock.

About Impinj

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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.