Impinj (NASDAQ:PI) Updates Q2 Earnings Guidance

Impinj (NASDAQ:PI) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.72-$0.77 for the period, compared to the consensus earnings per share estimate of $0.19. The company issued revenue guidance of $96.0-$99.0 million, compared to the consensus revenue estimate of $79.04 million.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PI shares. Roth Mkm increased their price objective on shares of Impinj from $115.00 to $125.00 and gave the stock a buy rating in a research report on Thursday, March 14th. Needham & Company LLC increased their price objective on shares of Impinj from $120.00 to $130.00 and gave the stock a buy rating in a research report on Thursday, March 14th. Canaccord Genuity Group increased their price objective on shares of Impinj from $130.00 to $150.00 and gave the stock a buy rating in a research report on Thursday, March 14th. StockNews.com raised shares of Impinj to a sell rating in a research report on Friday, February 9th. Finally, The Goldman Sachs Group increased their price objective on shares of Impinj from $89.00 to $115.00 and gave the company a buy rating in a research note on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $120.56.

Impinj Stock Down 2.2 %

Impinj stock traded down $2.77 during midday trading on Wednesday, reaching $120.91. 789,820 shares of the company traded hands, compared to its average volume of 371,259. The business has a 50 day moving average of $116.94 and a two-hundred day moving average of $93.73. Impinj has a 12 month low of $48.39 and a 12 month high of $139.46. The company has a quick ratio of 5.59, a current ratio of 8.73 and a debt-to-equity ratio of 8.26.

Impinj (NASDAQ:PI) last announced its earnings results on Thursday, February 8th. The company reported ($0.36) EPS for the quarter, beating analysts’ consensus estimates of ($0.47) by $0.11. Impinj had a negative net margin of 14.10% and a negative return on equity of 74.70%. The business had revenue of $70.65 million during the quarter, compared to analysts’ expectations of $67.10 million. Analysts anticipate that Impinj will post -0.62 earnings per share for the current year.

Insider Buying and Selling at Impinj

In other news, COO Hussein Mecklai sold 30,000 shares of the stock in a transaction on Monday, February 12th. The shares were 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 directly owns 40,489 shares of the company’s stock, valued at $4,243,247.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, COO Hussein Mecklai sold 30,000 shares of the stock in a transaction on Monday, February 12th. The shares were 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 directly owns 40,489 shares of the company’s stock, valued at $4,243,247.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Cary Baker sold 1,062 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $127.61, for a total transaction of $135,521.82. Following the transaction, the chief financial officer now directly owns 67,384 shares of the company’s stock, valued at $8,598,872.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 120,185 shares of company stock valued at $12,767,674. Insiders own 17.10% of the company’s stock.

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.