Impinj, Inc. (PI) Given Consensus Recommendation of “Hold” by Brokerages
Impinj, Inc. (NASDAQ:PI) has been given an average rating of “Hold” by the nine analysts that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $36.20.
PI has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Impinj from a “sell” rating to a “buy” rating and set a $39.00 price objective on the stock in a report on Wednesday, October 25th. Needham & Company LLC reissued a “buy” rating and set a $34.00 price objective (down previously from $45.00) on shares of Impinj in a report on Thursday, November 2nd. Morgan Stanley decreased their price objective on shares of Impinj from $37.00 to $29.00 and set an “equal weight” rating on the stock in a report on Thursday, November 2nd. Royal Bank Of Canada decreased their price objective on shares of Impinj from $50.00 to $41.00 and set an “outperform” rating on the stock in a report on Thursday, November 2nd. Finally, Dougherty & Co decreased their price objective on shares of Impinj from $62.00 to $42.00 and set a “buy” rating on the stock in a report on Thursday, November 2nd.
In other news, insider Eric Brodersen sold 7,000 shares of the firm’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $39.85, for a total value of $278,950.00. Following the transaction, the insider now owns 92,843 shares of the company’s stock, valued at approximately $3,699,793.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Evan Fein sold 3,300 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $25.19, for a total transaction of $83,127.00. Following the completion of the transaction, the chief financial officer now directly owns 15,100 shares in the company, valued at approximately $380,369. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,200 shares of company stock worth $895,109. Insiders own 15.20% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of PI. BNP Paribas Arbitrage SA boosted its stake in Impinj by 1,261.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock worth $102,000 after acquiring an additional 1,942 shares during the last quarter. American International Group Inc. bought a new position in Impinj during the 1st quarter worth approximately $112,000. Bronfman E.L. Rothschild L.P. bought a new position in Impinj during the 3rd quarter worth approximately $116,000. Cornerstone Capital Management Holdings LLC. bought a new position in Impinj during the 3rd quarter worth approximately $128,000. Finally, Turner Investments LLC bought a new position in Impinj during the 2nd quarter worth approximately $146,000. 82.95% of the stock is currently owned by institutional investors.
Shares of Impinj (NASDAQ:PI) traded down $0.14 during trading on Friday, hitting $23.42. 308,022 shares of the company were exchanged, compared to its average volume of 744,140. The company has a quick ratio of 4.97, a current ratio of 7.49 and a debt-to-equity ratio of 0.06. Impinj has a 1-year low of $19.97 and a 1-year high of $60.85.
Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, November 1st. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The firm had revenue of $32.60 million for the quarter, compared to analyst estimates of $32.58 million. Impinj had a negative return on equity of 1.15% and a negative net margin of 5.97%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 EPS. equities research analysts forecast that Impinj will post -0.41 EPS for the current fiscal year.
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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.
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