IMPINJ Inc (NYSE:PI) had its price objective trimmed by Royal Bank Of Canada from $59.00 to $50.00 in a research note published on Friday morning, MarketBeat reports. The brokerage currently has an outperform rating on the stock.

Several other brokerages also recently weighed in on PI. KeyCorp downgraded IMPINJ to a hold rating in a research note on Tuesday, June 27th. Morgan Stanley downgraded IMPINJ from an overweight rating to an equal weight rating and raised their target price for the company from $40.00 to $51.00 in a research note on Monday, June 19th. Zacks Investment Research downgraded IMPINJ from a hold rating to a strong sell rating in a research note on Thursday, June 29th. Needham & Company LLC raised their target price on IMPINJ from $40.00 to $55.00 and gave the company a buy rating in a research note on Wednesday, July 26th. Finally, Canaccord Genuity restated a buy rating and set a $50.00 target price (down from $57.00) on shares of IMPINJ in a research note on Friday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of Buy and an average target price of $43.63.

IMPINJ (NYSE PI) traded down 1.12% on Friday, hitting $37.10. The stock had a trading volume of 1,454,678 shares. IMPINJ has a one year low of $18.35 and a one year high of $60.85. The stock’s market cap is $765.56 million. The company’s 50-day moving average is $52.16 and its 200-day moving average is $39.25.

IMPINJ (NYSE:PI) last announced its earnings results on Thursday, August 3rd. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.04. The company had revenue of $34.10 million during the quarter, compared to the consensus estimate of $33.41 million. IMPINJ had a negative return on equity of 6.95% and a negative net margin of 6.81%. The company’s revenue was up 31.2% on a year-over-year basis. During the same period last year, the firm earned $0.06 earnings per share. On average, analysts anticipate that IMPINJ will post $0.21 earnings per share for the current fiscal year.

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In related news, CFO Evan Fein sold 10,000 shares of IMPINJ stock in a transaction dated Friday, June 16th. The stock was sold at an average price of $53.19, for a total value of $531,900.00. Following the completion of the transaction, the chief financial officer now directly owns 21,100 shares in the company, valued at $1,122,309. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric Brodersen sold 7,000 shares of IMPINJ stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $53.23, for a total value of $372,610.00. Following the completion of the transaction, the insider now owns 106,743 shares of the company’s stock, valued at $5,681,929.89. The disclosure for this sale can be found here. Insiders sold 85,666 shares of company stock valued at $3,857,412 over the last quarter.

A number of institutional investors have recently bought and sold shares of PI. Monarch Partners Asset Management LLC purchased a new position in IMPINJ during the first quarter worth approximately $219,000. Mesirow Financial Investment Management Equity Management purchased a new position in IMPINJ during the first quarter worth approximately $411,000. Pier 88 Investment Partners LLC purchased a new position in IMPINJ during the first quarter worth approximately $432,000. Sigma Planning Corp increased its position in IMPINJ by 90.9% in the first quarter. Sigma Planning Corp now owns 20,581 shares of the company’s stock worth $623,000 after buying an additional 9,800 shares during the period. Finally, Nationwide Fund Advisors increased its position in IMPINJ by 619.3% in the first quarter. Nationwide Fund Advisors now owns 26,118 shares of the company’s stock worth $791,000 after buying an additional 22,487 shares during the period.

IMPINJ Company Profile

Impinj, Inc is a provider of RAIN radio frequency identification (RFID) solutions. The Company sells a platform that includes endpoint integrated circuits (ICs), reader ICs, readers and gateways that enable wireless connectivity to everyday items, and software that delivers Item Intelligence from endpoint reads.

Analyst Recommendations for IMPINJ (NYSE:PI)

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