Impinj, Inc. (NASDAQ:PI) Receives Average Rating of “Moderate Buy” from Brokerages

Impinj, Inc. (NASDAQ:PI) has earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The average 1 year price target among analysts that have covered the stock in the last year is $132.89.

A number of analysts have commented on the company. Piper Sandler reiterated an “overweight” rating and set a $150.00 target price (up from $130.00) on shares of Impinj in a research report on Thursday, April 25th. Canaccord Genuity Group boosted their target price on Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. StockNews.com upgraded Impinj from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Susquehanna upped their price objective on Impinj from $130.00 to $140.00 and gave the company a “positive” rating in a research report on Tuesday, April 23rd. Finally, Roth Mkm upped their price objective on Impinj from $125.00 to $145.00 and gave the company a “buy” rating in a research report on Thursday, April 25th.

Impinj Stock Up 1.3 %

PI opened at $163.33 on Tuesday. The business’s fifty day moving average is $126.12 and its two-hundred day moving average is $100.06. The company has a debt-to-equity ratio of 3.29, a quick ratio of 6.87 and a current ratio of 9.42. The company has a market cap of $4.53 billion, a price-to-earnings ratio of -466.66 and a beta of 1.85. Impinj has a one year low of $48.39 and a one year high of $163.97.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, April 24th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.14. The company had revenue of $76.83 million for the quarter, compared to the consensus estimate of $73.57 million. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. Analysts anticipate that Impinj will post -0.62 EPS for the current fiscal year.

Insiders Place Their Bets

In other Impinj news, CFO Cary Baker sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $102.14, for a total value of $2,042,800.00. Following the sale, the chief financial officer now directly owns 55,432 shares of the company’s stock, valued at approximately $5,661,824.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, COO Hussein Mecklai sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $154.38, for a total value of $771,900.00. Following the transaction, the chief operating officer now directly owns 55,414 shares in the company, valued at approximately $8,554,813.32. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Cary Baker sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $102.14, for a total value of $2,042,800.00. Following the completion of the transaction, the chief financial officer now owns 55,432 shares in the company, valued at $5,661,824.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 183,321 shares of company stock valued at $22,221,714. Insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

A number of large investors have recently modified their holdings of PI. Sylebra Capital LLC purchased a new position in shares of Impinj in the 3rd quarter worth about $217,290,000. Capital International Investors purchased a new position in shares of Impinj in the 4th quarter worth about $68,211,000. Fred Alger Management LLC raised its holdings in shares of Impinj by 249.6% in 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. Westfield Capital Management Co. LP raised its holdings in shares of Impinj by 40.1% in 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. Finally, Jennison Associates LLC purchased a new stake in shares of Impinj during the 1st quarter valued at about $25,747,000.

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.