Impinj (NASDAQ:PI) Receives “Overweight” Rating from Piper Sandler

Piper Sandler reissued their overweight rating on shares of Impinj (NASDAQ:PI) in a research report released on Thursday, Benzinga reports. They currently have a $150.00 price target on the stock, up from their previous price target of $130.00.

A number of other equities research analysts have also issued reports on the company. Canaccord Genuity Group upped their target price on Impinj from $130.00 to $150.00 and gave the company a buy rating in a research note on Thursday, March 14th. Roth Mkm upped their target price on Impinj from $115.00 to $125.00 and gave the company a buy rating in a research note on Thursday, March 14th. The Goldman Sachs Group upped their target price on Impinj from $89.00 to $115.00 and gave the company a buy rating in a research note on Friday, February 9th. Evercore ISI began coverage on Impinj in a research note on Tuesday, April 16th. They issued an outperform rating and a $160.00 target price on the stock. Finally, StockNews.com upgraded Impinj to a sell rating in a report on Friday, February 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $132.89.

Impinj Price Performance

Shares of PI opened at $150.91 on Thursday. The stock’s 50 day moving average is $119.23 and its two-hundred day moving average is $95.58. The firm has a market capitalization of $4.18 billion, a PE ratio of -431.17 and a beta of 2.05. The company has a current ratio of 9.42, a quick ratio of 5.59 and a debt-to-equity ratio of 3.29. Impinj has a twelve month low of $48.39 and a twelve month high of $156.41.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, April 24th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.14. The business had revenue of $76.83 million for the quarter, compared to analyst estimates of $73.57 million. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. Research analysts anticipate that Impinj will post -0.62 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Cary Baker sold 20,000 shares of the company’s stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $102.14, for a total transaction of $2,042,800.00. Following the completion of the sale, the chief financial officer now directly owns 55,432 shares of the company’s stock, valued at approximately $5,661,824.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Impinj news, CFO Cary Baker sold 20,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $102.14, for a total value of $2,042,800.00. Following the completion of the transaction, the chief financial officer now directly owns 55,432 shares of the company’s stock, valued at approximately $5,661,824.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Cathal G. Phelan sold 10,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $2,310,502.50. The disclosure for this sale can be found here. In the last three months, insiders sold 120,185 shares of company stock valued at $12,767,674. Company insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Impinj

Several large investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Impinj by 2.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,128 shares of the company’s stock worth $462,000 after purchasing an additional 115 shares during the last quarter. Wealth Effects LLC raised its stake in Impinj by 1.0% during the first quarter. Wealth Effects LLC now owns 15,145 shares of the company’s stock worth $1,945,000 after acquiring an additional 150 shares during the period. Arizona State Retirement System raised its stake in Impinj by 3.3% during the third quarter. Arizona State Retirement System now owns 6,450 shares of the company’s stock worth $355,000 after acquiring an additional 205 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in Impinj during the first quarter worth about $32,000. Finally, GAMMA Investing LLC acquired a new stake in Impinj during the fourth quarter worth about $40,000.

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.