Impinj (PI) to Release Quarterly Earnings on Wednesday

Impinj (NASDAQ:PI) will post its quarterly earnings results after the market closes on Wednesday, April 24th. Analysts expect Impinj to post earnings of $0.10 per share for the quarter. Impinj has set its Q1 guidance at $0.08-$0.13 EPS and its Q1 2024 guidance at 0.080-0.130 EPS.Individual that wish to register for the company’s earnings conference call can do so using this link.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.47) by $0.11. Impinj had a negative return on equity of 74.70% and a negative net margin of 14.10%. The business had revenue of $70.65 million during the quarter, compared to analyst estimates of $67.10 million. On average, analysts expect Impinj to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

Impinj Price Performance

Shares of PI opened at $120.27 on Tuesday. The company has a debt-to-equity ratio of 8.26, a quick ratio of 5.59 and a current ratio of 8.73. The stock has a 50 day simple moving average of $116.53 and a 200 day simple moving average of $93.24. Impinj has a 52-week low of $48.39 and a 52-week high of $141.03. The firm has a market capitalization of $3.33 billion, a PE ratio of -74.24 and a beta of 2.05.

Insider Activity

In other news, COO Hussein Mecklai sold 30,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $104.80, for a total value of $3,144,000.00. Following the completion of the sale, the chief operating officer now owns 40,489 shares of the company’s stock, valued at approximately $4,243,247.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Hussein Mecklai sold 30,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $104.80, for a total value of $3,144,000.00. Following the completion of the sale, the chief operating officer now owns 40,489 shares of the company’s stock, valued at approximately $4,243,247.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Cary Baker sold 20,000 shares of the stock in a transaction that occurred on 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 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. In the last 90 days, insiders sold 120,185 shares of company stock valued at $12,767,674. 17.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on PI. StockNews.com upgraded Impinj to a “sell” rating in a research report on Friday, February 9th. Susquehanna boosted their price objective on Impinj from $115.00 to $130.00 and gave the company a “positive” rating in a research report on Friday, February 9th. Canaccord Genuity Group upped their price target on Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. The Goldman Sachs Group upped their price target on Impinj from $89.00 to $115.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, Roth Mkm upped their price target on Impinj from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Two equities research analysts have rated the stock with a sell rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Impinj has a consensus rating of “Moderate Buy” and an average price target of $119.44.

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.