Impinj (PI) Set to Announce Quarterly Earnings on Wednesday

Impinj (NASDAQ:PI) will release its earnings data after the market closes on Wednesday, April 24th. Analysts expect Impinj to post earnings of $0.10 per share for the quarter. Impinj has set its Q1 guidance at $0.08-$0.13 EPS and its Q1 2024 guidance at 0.080-0.130 EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Thursday, February 8th. The company reported ($0.36) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.11. Impinj had a negative net margin of 14.10% and a negative return on equity of 74.70%. The firm had revenue of $70.65 million during the quarter, compared to analysts’ expectations of $67.10 million. On average, analysts expect Impinj to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Impinj Stock Up 2.4 %

Shares of Impinj stock opened at $121.39 on Wednesday. The company has a fifty day moving average price of $115.60 and a 200 day moving average price of $91.31. The company has a current ratio of 8.73, a quick ratio of 5.59 and a debt-to-equity ratio of 8.26. Impinj has a twelve month low of $48.39 and a twelve month high of $142.70. The stock has a market cap of $3.36 billion, a price-to-earnings ratio of -74.93 and a beta of 2.05.

Insider Activity

In other news, COO Hussein Mecklai sold 30,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $104.80, for a total value of $3,144,000.00. Following the sale, the chief operating officer now owns 40,489 shares in the company, valued at approximately $4,243,247.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CRO Jeffrey Dossett sold 4,858 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $101.11, for a total value of $491,192.38. Following the sale, the executive now owns 57,110 shares in the company, valued at approximately $5,774,392.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Hussein Mecklai sold 30,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $104.80, for a total transaction of $3,144,000.00. Following the completion of the sale, the chief operating officer now owns 40,489 shares in the company, valued at approximately $4,243,247.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 117,634 shares of company stock worth $12,464,886. 17.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Impinj

Several institutional investors and hedge funds have recently bought and sold shares of PI. Raymond James & Associates raised its stake in Impinj by 3.3% during the first quarter. Raymond James & Associates now owns 17,095 shares of the company’s stock worth $1,086,000 after acquiring an additional 540 shares during the period. HighTower Advisors LLC raised its stake in Impinj by 21.7% during the first quarter. HighTower Advisors LLC now owns 7,326 shares of the company’s stock worth $466,000 after acquiring an additional 1,305 shares during the period. MetLife Investment Management LLC grew its position in Impinj by 55.2% in the 1st quarter. MetLife Investment Management LLC now owns 10,123 shares of the company’s stock worth $643,000 after purchasing an additional 3,601 shares during the last quarter. Rhumbline Advisers grew its position in Impinj by 2.7% in the 1st quarter. Rhumbline Advisers now owns 19,620 shares of the company’s stock worth $1,247,000 after purchasing an additional 516 shares during the last quarter. Finally, BlackRock Inc. grew its position in Impinj by 1.5% in the 1st quarter. BlackRock Inc. now owns 1,412,629 shares of the company’s stock worth $89,758,000 after purchasing an additional 20,404 shares during the last quarter.

Analyst Ratings Changes

A number of brokerages recently weighed in on PI. Evercore ISI began coverage on shares of Impinj in a research report on Tuesday. They set an “outperform” rating and a $160.00 price target for the company. Needham & Company LLC upped their price target on shares of Impinj from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. StockNews.com upgraded shares of Impinj to a “sell” rating in a report on Friday, February 9th. Roth Mkm boosted their price objective on shares of Impinj from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Finally, Canaccord Genuity Group boosted their price objective on shares of Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Two investment analysts have rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $119.44.

Impinj Company Profile

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects 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.