Susquehanna Boosts Impinj (NASDAQ:PI) Price Target to $140.00

Impinj (NASDAQ:PI) had its target price upped by Susquehanna from $130.00 to $140.00 in a report released on Tuesday, Benzinga reports. The firm currently has a positive rating on the stock.

Several other equities research analysts have also weighed in on the stock. Evercore ISI initiated coverage on shares of Impinj in a research note on Tuesday, April 16th. They set an outperform rating and a $160.00 price objective on the stock. Roth Mkm upped their target price on shares of Impinj from $115.00 to $125.00 and gave the stock a buy rating in a research report on Thursday, March 14th. The Goldman Sachs Group upped their target price on shares of Impinj from $89.00 to $115.00 and gave the stock a buy rating in a research report on Friday, February 9th. StockNews.com upgraded shares of Impinj to a sell rating in a research report on Friday, February 9th. Finally, Needham & Company LLC upped their target price 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. Two analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $120.56.

Impinj Price Performance

PI opened at $123.68 on Tuesday. The firm has a market cap of $3.42 billion, a price-to-earnings ratio of -76.35 and a beta of 2.05. Impinj has a fifty-two week low of $48.39 and a fifty-two week high of $141.03. The company’s 50-day moving average price is $116.94 and its 200 day moving average price is $93.73. The company has a quick ratio of 5.59, a current ratio of 8.73 and a debt-to-equity ratio of 8.26.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Thursday, February 8th. The company reported ($0.36) earnings per share for the quarter, topping the consensus estimate of ($0.47) by $0.11. The firm had revenue of $70.65 million for the quarter, compared to analyst estimates of $67.10 million. Impinj had a negative net margin of 14.10% and a negative return on equity of 74.70%. As a group, sell-side analysts expect that Impinj will post -0.62 earnings per share for the current year.

Insider Activity at Impinj

In other Impinj news, CFO Cary Baker sold 20,000 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $102.14, for a total value of $2,042,800.00. Following the completion of the sale, the chief financial officer now owns 55,432 shares in the company, valued at approximately $5,661,824.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Impinj news, CFO Cary Baker sold 20,000 shares of the stock in a transaction that occurred on Wednesday, February 14th. The shares were sold at an average price of $102.14, for a total value of $2,042,800.00. Following the completion of the sale, the chief financial officer now owns 55,432 shares in the company, valued at approximately $5,661,824.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Hussein Mecklai sold 30,000 shares of the firm’s stock in a transaction on 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 transaction, 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 sold 120,185 shares of company stock worth $12,767,674. 17.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC grew its stake in Impinj by 0.8% in the 3rd quarter. FMR LLC now owns 4,028,894 shares of the company’s stock valued at $221,710,000 after buying an additional 31,289 shares during the last quarter. Sylebra Capital LLC bought a new position in shares of Impinj during the 3rd quarter worth about $217,290,000. Westfield Capital Management Co. LP increased its holdings in shares of Impinj by 40.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,022,359 shares of the company’s stock worth $56,260,000 after purchasing an additional 292,470 shares during the period. Fred Alger Management LLC increased its holdings in shares of Impinj by 249.6% during the 3rd quarter. Fred Alger Management LLC now owns 795,973 shares of the company’s stock worth $43,802,000 after purchasing an additional 568,301 shares during the period. Finally, Capital International Investors bought a new position in shares of Impinj during the 4th quarter worth about $68,211,000.

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.