Shufro Rose & Co. LLC Has $517,000 Position in Impinj, Inc. (NASDAQ:PI)

Shufro Rose & Co. LLC boosted its holdings in Impinj, Inc. (NASDAQ:PI) by 235.3% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 5,700 shares of the company’s stock after acquiring an additional 4,000 shares during the quarter. Shufro Rose & Co. LLC’s holdings in Impinj were worth $517,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in PI. Cambridge Investment Research Advisors Inc. increased its position in shares of Impinj by 7.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,169 shares of the company’s stock worth $741,000 after buying an additional 535 shares during the period. KBC Group NV raised its holdings in Impinj by 35.0% during the first quarter. KBC Group NV now owns 1,227 shares of the company’s stock worth $111,000 after buying an additional 318 shares during the last quarter. GAMMA Investing LLC lifted its position in Impinj by 68.7% in the 1st quarter. GAMMA Investing LLC now owns 722 shares of the company’s stock valued at $65,000 after acquiring an additional 294 shares in the last quarter. Norges Bank purchased a new position in shares of Impinj during the fourth quarter valued at approximately $40,100,000. Finally, Bank of Montreal Can raised its holdings in shares of Impinj by 10.3% in the fourth quarter. Bank of Montreal Can now owns 2,781 shares of the company’s stock valued at $404,000 after purchasing an additional 260 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PI. Evercore ISI lifted their target price on Impinj from $99.00 to $117.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Cantor Fitzgerald boosted their price objective on Impinj from $133.00 to $158.00 and gave the company an “overweight” rating in a research note on Thursday. Piper Sandler increased their target price on shares of Impinj from $140.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday. Susquehanna lifted their price target on Impinj from $130.00 to $140.00 and gave the company a “positive” rating in a research report on Tuesday, July 22nd. Finally, Needham & Company LLC increased their target price on Impinj from $115.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Impinj presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.29.

Impinj Price Performance

Shares of Impinj stock opened at $152.92 on Friday. Impinj, Inc. has a 52 week low of $60.85 and a 52 week high of $239.88. The stock’s 50-day simple moving average is $115.52 and its 200-day simple moving average is $105.13. The company has a quick ratio of 7.46, a current ratio of 11.64 and a debt-to-equity ratio of 1.51. The company has a market capitalization of $4.45 billion, a price-to-earnings ratio of 15,307.31 and a beta of 1.74.

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.08. Impinj had a net margin of 0.18% and a return on equity of 8.14%. The company had revenue of $97.89 million for the quarter, compared to analyst estimates of $93.78 million. During the same period in the prior year, the company posted $0.83 EPS. The firm’s revenue for the quarter was down 4.5% on a year-over-year basis. As a group, analysts expect that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

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.