Impinj (NASDAQ:PI) Hits New 1-Year High at $162.25

Impinj, Inc. (NASDAQ:PI) shares reached a new 52-week high on Thursday . The stock traded as high as $162.25 and last traded at $160.98, with a volume of 130424 shares traded. The stock had previously closed at $154.66.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Needham & Company LLC boosted their target price on Impinj from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Susquehanna raised their target price on shares of Impinj from $130.00 to $140.00 and gave the stock a “positive” rating in a report on Tuesday, April 23rd. Piper Sandler restated an “overweight” rating and set a $150.00 price target (up previously from $130.00) on shares of Impinj in a report on Thursday, April 25th. Roth Mkm raised their price objective on shares of Impinj from $125.00 to $145.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, Evercore ISI started coverage on shares of Impinj in a research report on Tuesday, April 16th. They set an “outperform” rating and a $160.00 price objective on the stock. One equities 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 stock. According to data from MarketBeat.com, Impinj currently has an average rating of “Moderate Buy” and an average target price of $132.89.

Impinj Price Performance

The company has a quick ratio of 6.87, a current ratio of 9.42 and a debt-to-equity ratio of 3.29. The stock’s 50 day moving average price is $124.94 and its two-hundred day moving average price is $98.65. The firm has a market capitalization of $4.47 billion, a price-to-earnings ratio of -460.66 and a beta of 1.85.

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

Insider Activity at Impinj

In other Impinj news, CEO Chris Ph.D. Diorio sold 16,060 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $101.16, for a total transaction of $1,624,629.60. Following the transaction, the chief executive officer now directly owns 278,863 shares of the company’s stock, valued at $28,209,781.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Chris Ph.D. Diorio sold 16,060 shares of the business’s 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 completion of the sale, the chief executive officer now directly owns 278,863 shares in the company, valued at approximately $28,209,781.08. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Cary Baker sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $102.14, for a total value of $2,042,800.00. Following 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 183,321 shares of company stock valued at $22,221,714. 17.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PI. Jennison Associates LLC bought a new position in shares of Impinj in the first quarter worth about $25,747,000. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Impinj by 13.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company’s stock valued at $7,990,000 after acquiring an additional 7,247 shares during the period. Principal Financial Group Inc. grew its stake in shares of Impinj by 16.9% in the first quarter. Principal Financial Group Inc. now owns 3,137 shares of the company’s stock worth $403,000 after acquiring an additional 454 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in Impinj by 117.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock worth $124,000 after acquiring an additional 521 shares during the period. Finally, Wealth Effects LLC raised its stake in Impinj by 1.0% during the 1st quarter. Wealth Effects LLC now owns 15,145 shares of the company’s stock valued at $1,945,000 after purchasing an additional 150 shares during the last quarter.

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.