Impinj (NASDAQ:PI) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Impinj (NASDAQ:PI) from a sell rating to a hold rating in a research report sent to investors on Friday morning.

PI has been the subject of a number of other reports. Susquehanna raised their price objective on Impinj from $130.00 to $140.00 and gave the stock a positive rating in a research report on Tuesday, April 23rd. The Goldman Sachs Group raised their price objective on Impinj from $130.00 to $156.00 and gave the stock a buy rating in a research report on Friday. Roth Mkm raised 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. Evercore ISI assumed coverage on Impinj in a research report on Tuesday, April 16th. They set an outperform rating and a $160.00 price objective for the company. Finally, Piper Sandler restated an overweight rating and set a $150.00 target price (up from $130.00) on shares of Impinj in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus target price of $132.89.

Impinj Stock Up 4.3 %

Shares of PI opened at $157.45 on Friday. Impinj has a 52-week low of $48.39 and a 52-week high of $159.62. The company has a market capitalization of $4.36 billion, a PE ratio of -449.86 and a beta of 2.05. The stock has a fifty day simple moving average of $120.33 and a two-hundred day simple moving average of $96.31. The company has a quick ratio of 6.87, a current ratio of 9.42 and a debt-to-equity ratio of 3.29.

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

Insider Activity

In other news, CEO Chris Ph.D. Diorio sold 16,060 shares of Impinj stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $101.16, for a total value of $1,624,629.60. Following the completion of the transaction, the chief executive officer now owns 278,863 shares in the company, valued at approximately $28,209,781.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Impinj news, CFO Cary Baker sold 20,000 shares of Impinj stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $102.14, for a total transaction of $2,042,800.00. Following the transaction, the chief financial officer now owns 55,432 shares of the company’s stock, valued at $5,661,824.48. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Chris Ph.D. Diorio sold 16,060 shares of Impinj stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $101.16, for a total value of $1,624,629.60. Following the transaction, the chief executive officer now directly owns 278,863 shares in the company, valued at approximately $28,209,781.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 120,185 shares of company stock worth $12,767,674. 17.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PI. CWM LLC increased its position in Impinj by 68.3% during the third quarter. CWM LLC now owns 6,157 shares of the company’s stock worth $339,000 after buying an additional 2,499 shares during the period. SG Americas Securities LLC increased its holdings in shares of Impinj by 101.9% in the third quarter. SG Americas Securities LLC now owns 30,894 shares of the company’s stock valued at $1,700,000 after purchasing an additional 15,591 shares during the period. Avior Wealth Management LLC increased its holdings in shares of Impinj by 35.8% in the third quarter. Avior Wealth Management LLC now owns 4,665 shares of the company’s stock valued at $257,000 after purchasing an additional 1,229 shares during the period. Asset Management One Co. Ltd. increased its holdings in shares of Impinj by 74.6% in the third quarter. Asset Management One Co. Ltd. now owns 1,226 shares of the company’s stock valued at $67,000 after purchasing an additional 524 shares during the period. Finally, Commonwealth Equity Services LLC increased its holdings in shares of Impinj by 109.8% in the third quarter. Commonwealth Equity Services LLC now owns 4,730 shares of the company’s stock valued at $260,000 after purchasing an additional 2,476 shares during the period.

About Impinj

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.