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

Impinj, Inc. (NASDAQ:PI) has earned a consensus rating of “Moderate Buy” from the ten analysts that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $187.10.

PI has been the topic of several research reports. The Goldman Sachs Group downgraded shares of Impinj from a “buy” rating to a “neutral” rating and set a $156.00 price target on the stock. in a report on Monday, May 20th. Jefferies Financial Group began coverage on shares of Impinj in a report on Monday, May 13th. They set a “buy” rating and a $200.00 target price for the company. Lake Street Capital upped their price target on shares of Impinj from $155.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Needham & Company LLC reiterated a “buy” rating and set a $195.00 price objective on shares of Impinj in a research note on Thursday, July 25th. Finally, Susquehanna upped their target price on Impinj from $150.00 to $215.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th.

Insider Transactions at Impinj

In related news, CEO Chris Ph.D. Diorio sold 5,000 shares of the business’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $146.49, for a total value of $732,450.00. Following the completion of the sale, the chief executive officer now owns 286,230 shares of the company’s stock, valued at approximately $41,929,832.70. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Cathal G. Phelan sold 212 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $147.52, for a total value of $31,274.24. Following the transaction, the insider now owns 16,669 shares in the company, valued at $2,459,010.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 5,000 shares of the stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $146.49, for a total value of $732,450.00. Following the completion of the transaction, the chief executive officer now directly owns 286,230 shares of the company’s stock, valued at $41,929,832.70. The disclosure for this sale can be found here. Insiders sold a total of 1,049,127 shares of company stock valued at $160,695,658 in the last three months. 51.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Impinj

A number of large investors have recently modified their holdings of the business. Future Financial Wealth Managment LLC acquired a new position in Impinj during the first quarter worth about $32,000. GAMMA Investing LLC purchased a new position in Impinj in the 4th quarter worth approximately $40,000. Headlands Technologies LLC acquired a new position in shares of Impinj during the 4th quarter worth approximately $58,000. SouthState Corp purchased a new stake in shares of Impinj in the second quarter valued at approximately $94,000. Finally, nVerses Capital LLC increased its holdings in shares of Impinj by 75.0% in the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after purchasing an additional 300 shares during the last quarter.

Impinj Trading Up 1.3 %

NASDAQ PI opened at $162.93 on Thursday. Impinj has a 12-month low of $48.39 and a 12-month high of $181.88. The company has a fifty day simple moving average of $156.87 and a two-hundred day simple moving average of $141.06. The stock has a market cap of $4.58 billion, a P/E ratio of -465.51 and a beta of 1.78.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, July 24th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The company had revenue of $102.50 million during the quarter, compared to analyst estimates of $97.47 million. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The firm’s quarterly revenue was up 19.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.14) EPS. As a group, sell-side analysts forecast that Impinj will post 0.31 earnings per share for the current year.

About Impinj

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.