Impinj (NASDAQ:PI) Lifted to Hold at StockNews.com

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

PI has been the topic of a number of other research reports. 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. Needham & Company LLC raised their target price on shares of Impinj from $130.00 to $160.00 and gave the stock a buy rating in a report on Thursday. Evercore ISI initiated coverage on shares of Impinj in a report on Tuesday, April 16th. They issued an outperform rating and a $160.00 target price on the stock. Piper Sandler reaffirmed an overweight rating and set a $150.00 price target (up previously from $130.00) on shares of Impinj in a report on Thursday. Finally, Roth Mkm lifted their price target on Impinj from $125.00 to $145.00 and gave the company a buy rating in a report on Thursday. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $132.89.

Impinj Trading Down 3.0 %

Shares of NASDAQ PI opened at $150.91 on Friday. The company has a debt-to-equity ratio of 3.29, a current ratio of 9.42 and a quick ratio of 5.59. The firm’s 50-day moving average price is $119.23 and its two-hundred day moving average price is $95.02. Impinj has a 52-week low of $48.39 and a 52-week high of $156.41.

Impinj (NASDAQ:PI) last issued its earnings results 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. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. The firm had revenue of $76.83 million for the quarter, compared to analysts’ expectations of $73.57 million. On average, research analysts predict that Impinj will post -0.62 earnings per share for the current fiscal year.

Insider Activity

In related news, CRO Jeffrey Dossett sold 4,858 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $101.11, for a total transaction of $491,192.38. Following the sale, the executive now owns 57,110 shares of the company’s stock, valued at $5,774,392.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CRO Jeffrey Dossett sold 4,858 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $101.11, for a total transaction of $491,192.38. Following the sale, the executive now owns 57,110 shares of the company’s stock, valued at $5,774,392.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Hussein Mecklai sold 30,000 shares of the business’s 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 sale, the chief operating officer now directly owns 40,489 shares in the company, valued at approximately $4,243,247.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 120,185 shares of company stock valued at $12,767,674. Insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Impinj

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PI. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Impinj by 2.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,128 shares of the company’s stock valued at $462,000 after buying an additional 115 shares in the last quarter. Wealth Effects LLC increased its holdings in shares of Impinj by 1.0% in the first quarter. Wealth Effects LLC now owns 15,145 shares of the company’s stock valued at $1,945,000 after buying an additional 150 shares in the last quarter. Arizona State Retirement System increased its holdings in shares of Impinj by 3.3% in the third quarter. Arizona State Retirement System now owns 6,450 shares of the company’s stock valued at $355,000 after buying an additional 205 shares in the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Impinj in the first quarter valued at $32,000. Finally, GAMMA Investing LLC bought a new position in shares of Impinj in the fourth quarter valued at $40,000.

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.