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

Shares of Impinj, Inc. (NASDAQ:PIGet Free Report) have been given an average rating of “Moderate Buy” by the nine research firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $143.10.

Several research analysts recently commented on PI shares. Needham & Company LLC raised their price objective on shares of Impinj from $160.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. Canaccord Genuity Group raised 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. Piper Sandler reaffirmed an “overweight” rating and issued a $150.00 price objective (up from $130.00) on shares of Impinj in a report on Thursday, April 25th. Susquehanna raised their price objective on shares of Impinj from $130.00 to $140.00 and gave the stock a “positive” rating in a report on Tuesday, April 23rd. Finally, Jefferies Financial Group began coverage on shares of Impinj in a report on Monday, May 13th. They issued a “buy” rating and a $200.00 price objective for the company.

View Our Latest Analysis on Impinj

Impinj Trading Up 0.2 %

Shares of PI stock opened at $163.67 on Friday. Impinj has a 52-week low of $48.39 and a 52-week high of $175.41. 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 50-day simple moving average of $144.97 and a two-hundred day simple moving average of $113.16. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of -467.63 and a beta of 1.85.

Impinj (NASDAQ:PIGet Free Report) last released its earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.31) by $0.14. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. The firm had revenue of $76.83 million during the quarter, compared to the consensus estimate of $73.57 million. Research analysts anticipate that Impinj will post 0.02 EPS for the current fiscal year.

Insider Activity

In other news, CRO Jeffrey Dossett sold 3,000 shares of Impinj stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $121.72, for a total transaction of $365,160.00. Following the sale, the executive now owns 57,110 shares of the company’s stock, valued at approximately $6,951,429.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Impinj news, CEO Chris Ph.D. Diorio sold 26,661 shares of Impinj stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $147.02, for a total value of $3,919,700.22. Following the completion of the transaction, the chief executive officer now directly owns 286,230 shares of the company’s stock, valued at $42,081,534.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Jeffrey Dossett sold 3,000 shares of Impinj stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $121.72, for a total transaction of $365,160.00. Following the completion of the transaction, the executive now directly owns 57,110 shares of the company’s stock, valued at $6,951,429.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 82,054 shares of company stock valued at $11,827,880. Corporate insiders own 51.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PI. Arizona State Retirement System raised its holdings in shares of Impinj by 3.3% during the third quarter. Arizona State Retirement System now owns 6,450 shares of the company’s stock valued at $355,000 after purchasing an additional 205 shares during the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Impinj by 133.2% during the third quarter. Oppenheimer Asset Management Inc. now owns 7,525 shares of the company’s stock valued at $414,000 after purchasing an additional 4,298 shares during the last quarter. Swiss National Bank raised its holdings in shares of Impinj by 2.9% during the third quarter. Swiss National Bank now owns 49,800 shares of the company’s stock valued at $2,740,000 after purchasing an additional 1,400 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Impinj by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 174,037 shares of the company’s stock valued at $9,577,000 after buying an additional 8,038 shares during the period. Finally, Rhumbline Advisers grew its position in Impinj by 3.2% during the third quarter. Rhumbline Advisers now owns 32,228 shares of the company’s stock valued at $1,773,000 after buying an additional 989 shares during the period.

Impinj Company Profile

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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 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.

Further Reading

Analyst Recommendations for Impinj (NASDAQ:PI)

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