IMPINJ Inc (PI) Receives Consensus Recommendation of “Buy” from Brokerages
Shares of IMPINJ Inc (NYSE:PI) have been given a consensus rating of “Buy” by the eight brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $50.67.
Several equities research analysts have recently commented on PI shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $50.00 price target (up previously from $42.00) on shares of IMPINJ in a research report on Sunday, May 28th. Morgan Stanley lowered shares of IMPINJ from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $40.00 to $51.00 in a research report on Monday, June 19th. KeyCorp lowered shares of IMPINJ to a “hold” rating in a research report on Tuesday, June 27th. Zacks Investment Research lowered shares of IMPINJ from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 29th. Finally, Needham & Company LLC upped their price target on shares of IMPINJ from $40.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th.
Shares of IMPINJ (NYSE PI) traded up 1.93% during mid-day trading on Friday, hitting $41.25. 434,619 shares of the stock traded hands. IMPINJ has a 1-year low of $23.55 and a 1-year high of $41.91. The company’s market capitalization is $860.48 million. The company’s 50-day moving average price is $38.99 and its 200 day moving average price is $38.99.
IMPINJ (NYSE:PI) last issued its earnings results on Thursday, August 3rd. The company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.04. IMPINJ had a negative return on equity of 3.11% and a negative net margin of 2.86%. The business had revenue of $34.10 million during the quarter, compared to analyst estimates of $33.41 million. During the same quarter in the previous year, the firm earned $0.06 EPS. IMPINJ’s revenue was up 31.2% on a year-over-year basis. Equities research analysts forecast that IMPINJ will post $0.05 EPS for the current fiscal year.
In other IMPINJ news, CFO Evan Fein sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $38.00, for a total value of $342,000.00. Following the completion of the transaction, the chief financial officer now directly owns 15,300 shares in the company, valued at approximately $581,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Brodersen sold 7,000 shares of the company’s stock in a transaction that occurred on 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 have sold a total of 40,500 shares of company stock valued at $1,693,315 in the last ninety days.
A number of hedge funds have recently bought and sold shares of PI. BNP Paribas Arbitrage SA boosted its stake in IMPINJ by 1,261.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock worth $102,000 after purchasing an additional 1,942 shares during the period. American International Group Inc. bought a new position in IMPINJ in the 1st quarter worth approximately $112,000. ClariVest Asset Management LLC bought a new position in IMPINJ in the 1st quarter worth approximately $127,000. Nordea Investment Management AB bought a new position in IMPINJ in the 1st quarter worth approximately $127,000. Finally, Turner Investments LLC bought a new position in IMPINJ in the 2nd quarter worth approximately $146,000.
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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.
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