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

by · The Markets Daily

Shares of Impinj, Inc. (NASDAQ:PI – Get Free Report) have earned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation and seven have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $132.89.

Several research analysts have recently weighed in on the stock. Canaccord Genuity Group upped their price target on shares of Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, March 14th. Needham & Company LLC increased their price objective on Impinj from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. StockNews.com upgraded Impinj from a “sell” rating to a “hold” rating in a research report on Friday, April 26th. Roth Mkm increased their price objective on Impinj from $125.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Finally, Evercore ISI began coverage on Impinj in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $160.00 price objective on the stock.

View Our Latest Analysis on Impinj

Insider Buying and Selling at Impinj

In other news, Director Umesh Padval sold 3,475 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $151.39, for a total transaction of $526,080.25. Following the transaction, the director now directly owns 3,529 shares of the company’s stock, valued at $534,255.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Cathal G. Phelan sold 10,000 shares of Impinj stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $106.23, for a total transaction of $1,062,300.00. Following the completion of the transaction, the insider now directly owns 21,750 shares in the company, valued at $2,310,502.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Umesh Padval sold 3,475 shares of Impinj stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $151.39, for a total transaction of $526,080.25. Following the transaction, the director now owns 3,529 shares of the company’s stock, valued at $534,255.31. The disclosure for this sale can be found here. Insiders have sold 183,321 shares of company stock worth $22,221,714 over the last 90 days. Corporate insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

A number of hedge funds have recently added to or reduced their stakes in PI. Asset Management One Co. Ltd. raised its holdings in Impinj by 74.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,226 shares of the company’s stock worth $67,000 after acquiring an additional 524 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in Impinj by 109.8% in the 3rd quarter. Commonwealth Equity Services LLC now owns 4,730 shares of the company’s stock worth $260,000 after acquiring an additional 2,476 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in Impinj by 13.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 26,579 shares of the company’s stock worth $1,463,000 after purchasing an additional 3,098 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Impinj by 17.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,013 shares of the company’s stock worth $276,000 after purchasing an additional 748 shares during the period. Finally, Shufro Rose & Co. LLC grew its position in Impinj by 680.0% in the 3rd quarter. Shufro Rose & Co. LLC now owns 3,900 shares of the company’s stock worth $215,000 after purchasing an additional 3,400 shares during the period.

Impinj Trading Up 1.1 %

Shares of PI stock opened at $160.27 on Tuesday. The company’s fifty day simple moving average is $130.51 and its two-hundred day simple moving average is $102.81. The company has a debt-to-equity ratio of 3.29, a current ratio of 9.42 and a quick ratio of 6.87. Impinj has a 1 year low of $48.39 and a 1 year high of $167.45. The stock has a market capitalization of $4.44 billion, a price-to-earnings ratio of -457.91 and a beta of 1.85.

Impinj (NASDAQ:PI – Get Free Report) last issued its earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share (EPS) 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 business had revenue of $76.83 million for the quarter, compared to analysts’ expectations of $73.57 million. As a group, analysts anticipate that Impinj will post -0.62 earnings per share for the current year.

About Impinj

(Get Free Report

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.

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