Impinj (NASDAQ:PI) Updates Q4 Earnings Guidance

Impinj (NASDAQ:PI) updated its fourth quarter earnings guidance on Wednesday. The company provided EPS guidance of $0.45-$0.49 for the period, compared to the consensus EPS estimate of $0.40. The company issued revenue guidance of $91.0-$94.0 million, compared to the consensus revenue estimate of $90.06 million. Impinj also updated its Q4 2024 guidance to 0.450-0.490 EPS.

Impinj Trading Up 4.4 %

Impinj stock opened at $200.70 on Friday. Impinj has a 52 week low of $58.56 and a 52 week high of $239.88. The stock has a market cap of $5.64 billion, a price-to-earnings ratio of 692.07 and a beta of 1.80. The company’s 50-day moving average price is $196.40 and its two-hundred day moving average price is $168.96.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.08. The company had revenue of $95.20 million for the quarter, compared to analysts’ expectations of $92.86 million. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The firm’s revenue for the quarter was up 46.5% on a year-over-year basis. During the same period last year, the firm earned ($0.36) EPS. Research analysts expect that Impinj will post 0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

PI has been the topic of a number of recent analyst reports. Susquehanna boosted their target price on Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research report on Monday, October 21st. The Goldman Sachs Group raised their target price on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday. StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a report on Friday. Lake Street Capital lifted their price objective on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Needham & Company LLC raised their target price on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $224.60.

Insider Activity at Impinj

In other Impinj news, CEO Chris Ph.D. Diorio sold 1,498 shares of the stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $209.12, for a total transaction of $313,261.76. Following the transaction, the chief executive officer now owns 292,532 shares in the company, valued at $61,174,291.84. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Impinj news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was acquired at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the transaction, the insider now owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Chris Ph.D. Diorio sold 1,498 shares of the company’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $209.12, for a total value of $313,261.76. Following the transaction, the chief executive officer now owns 292,532 shares of the company’s stock, valued at approximately $61,174,291.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,779 shares of company stock valued at $3,825,046. Corporate insiders own 51.00% of the company’s stock.

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.