Impinj (NASDAQ:PI – Free Report) had its price objective boosted by Barclays from $200.00 to $217.00 in a research note published on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.
Other equities research analysts also recently issued reports about the company. Needham & Company LLC lifted their price objective on Impinj from $168.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Wall Street Zen raised shares of Impinj from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Jefferies Financial Group increased their target price on shares of Impinj from $190.00 to $220.00 and gave the stock a “buy” rating in a report on Thursday, October 29th. Weiss Ratings restated a “sell (d)” rating on shares of Impinj in a research report on Wednesday, October 28th. Finally, Susquehanna lifted their price target on shares of Impinj from $175.00 to $225.00 and gave the company a “positive” rating in a report on Thursday, October 29th. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $196.10.
View Our Latest Research Report on PI
Impinj Stock Down 2.3%
PI opened at $180.30 on Monday. Impinj has a 12 month low of $87.36 and a 12 month high of $215.25. The business has a 50-day moving average of $178.03 and a two-hundred day moving average of $144.34. The company has a debt-to-equity ratio of 0.61, a current ratio of 9.42 and a quick ratio of 7.07. The stock has a market capitalization of $5.56 billion, a price-to-earnings ratio of -546.35 and a beta of 1.90.
Impinj (NASDAQ:PI – Get Free Report) last posted its earnings results on Wednesday, October 28th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.08. The firm had revenue of $112.08 million during the quarter, compared to the consensus estimate of $107.16 million. Impinj had a negative net margin of 2.45% and a positive return on equity of 6.65%. The company’s revenue was up 16.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.58 EPS. On average, research analysts expect that Impinj will post 0.59 earnings per share for the current year.
Insider Activity at Impinj
In other news, CFO Cary Baker sold 8,892 shares of the business’s stock in a transaction on Monday, September 21st. The stock was sold at an average price of $185.00, for a total value of $1,645,020.00. Following the sale, the chief financial officer owned 80,388 shares of the company’s stock, valued at approximately $14,871,780. The trade was a 9.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Meera Rao sold 1,729 shares of the business’s stock in a transaction dated Thursday, October 29th. The stock was sold at an average price of $201.60, for a total transaction of $348,566.40. Following the completion of the sale, the director owned 9,593 shares in the company, valued at approximately $1,933,948.80. This trade represents a 15.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 12,850 shares of company stock worth $2,396,559 over the last quarter. 6.80% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Impinj
Several institutional investors and hedge funds have recently added to or reduced their stakes in PI. Ethic Inc. acquired a new position in shares of Impinj during the 3rd quarter worth about $252,000. Kornitzer Capital Management Inc. KS boosted its stake in Impinj by 38.8% during the 3rd quarter. Kornitzer Capital Management Inc. KS now owns 84,412 shares of the company’s stock valued at $15,134,000 after purchasing an additional 23,596 shares during the period. Commonwealth Equity Services LLC grew its holdings in Impinj by 32.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 2,073 shares of the company’s stock valued at $372,000 after buying an additional 507 shares during the last quarter. Oregon Public Employees Retirement Fund grew its holdings in Impinj by 5.1% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 6,486 shares of the company’s stock valued at $1,163,000 after buying an additional 315 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al grew its holdings in Impinj by 126.3% in the 3rd quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 4,300 shares of the company’s stock valued at $771,000 after buying an additional 2,400 shares during the last quarter.
Impinj Company Profile
Impinj, Inc (NASDAQ: PI) develops technology for the Internet of Things (IoT) based on RAIN RFID, a wireless technology used to identify, locate and authenticate individual items. Its platform is designed to connect physical products, packages and assets to digital systems, helping organizations collect real-time information throughout supply chains and business operations.
The company offers a portfolio of RAIN RFID endpoint integrated circuits, reader chips, RFID readers and gateways, antennas, and cloud and software solutions.
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