Impinj (NASDAQ:PI) Upgraded by BMO Capital Markets to Strong-Buy Rating

BMO Capital Markets upgraded shares of Impinj (NASDAQ:PI) to a strong-buy rating in a research report released on Thursday morning,Zacks.com reports.

Several other research analysts have also recently weighed in on PI. Needham & Company LLC lowered their price target on shares of Impinj from $175.00 to $168.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price objective on shares of Impinj in a research report on Thursday, July 30th. Evercore set a $144.00 price objective on Impinj in a report on Thursday, April 30th. Wall Street Zen raised Impinj from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Finally, Jefferies Financial Group increased their target price on Impinj from $175.00 to $190.00 and gave the stock a “buy” rating in a research note on Thursday, July 30th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $183.30.

Impinj Price Performance

NASDAQ:PI opened at $165.54 on Thursday. Impinj has a one year low of $87.36 and a one year high of $247.06. The company has a market cap of $5.06 billion, a P/E ratio of -179.93 and a beta of 1.94. The firm’s fifty day moving average price is $147.22 and its two-hundred day moving average price is $130.80. The company has a debt-to-equity ratio of 0.80, a current ratio of 3.28 and a quick ratio of 2.29.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.06. The company had revenue of $108.37 million for the quarter, compared to analyst estimates of $104.60 million. Impinj had a negative net margin of 7.26% and a positive return on equity of 5.23%. The company’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.80 earnings per share. Impinj has set its Q3 2026 guidance at 0.590-0.630 EPS. Equities analysts expect that Impinj will post 0.37 earnings per share for the current year.

Insider Buying and Selling at Impinj

In related news, Director Sylebra Capital Llc sold 12,105 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $127.36, for a total value of $1,541,692.80. Following the completion of the transaction, the director owned 782,943 shares of the company’s stock, valued at $99,715,620.48. The trade was a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Cary Baker sold 1,429 shares of the company’s stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $185.00, for a total transaction of $264,365.00. Following the sale, the chief financial officer directly owned 88,226 shares of the company’s stock, valued at $16,321,810. This represents a 1.59% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 240,657 shares of company stock worth $32,875,156. 6.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Impinj

Hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC raised its position in Impinj by 63.5% during the fourth quarter. Intech Investment Management LLC now owns 18,532 shares of the company’s stock valued at $3,225,000 after purchasing an additional 7,194 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Impinj by 40.1% during the first quarter. Janus Henderson Group PLC now owns 28,014 shares of the company’s stock worth $2,877,000 after purchasing an additional 8,023 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Impinj by 2,441.0% in the 1st quarter. The Manufacturers Life Insurance Company now owns 425,945 shares of the company’s stock valued at $43,745,000 after purchasing an additional 409,182 shares in the last quarter. Polar Asset Management Partners Inc. boosted its holdings in shares of Impinj by 25.6% in the 1st quarter. Polar Asset Management Partners Inc. now owns 136,656 shares of the company’s stock valued at $14,035,000 after purchasing an additional 27,845 shares in the last quarter. Finally, Fifth Third Bancorp increased its stake in shares of Impinj by 4,821.8% in the 1st quarter. Fifth Third Bancorp now owns 8,564 shares of the company’s stock valued at $880,000 after purchasing an additional 8,390 shares during the last quarter.

Impinj Company Profile

Impinj, Inc, headquartered in Seattle, Washington, develops Radio Frequency Identification (RFID) solutions designed to connect everyday items to the internet. Founded in 2000, the company pioneered RAIN RFID technology with a focus on transforming supply chain and inventory processes across retail, healthcare, airport baggage handling and manufacturing. Impinj’s platform comprises RAIN RFID tag chips, fixed and handheld RFID readers, gateways, antennas and connectivity modules that enable real-time visibility of tagged items.

Impinj’s product portfolio is built around its core RAIN RFID ecosystem, offering tag chips for high-volume production (Monza series), reader chips for integration into third-party devices and complete reader and gateway systems (Speedway series and xArray).