Roth Mkm Boosts Impinj (NASDAQ:PI) Price Target to $175.00

Impinj (NASDAQ:PI) had its price objective increased by Roth Mkm from $145.00 to $175.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also recently issued reports on PI. Susquehanna raised their price target on Impinj from $150.00 to $215.00 and gave the company a positive rating in a report on Wednesday, July 17th. Jefferies Financial Group started coverage on Impinj in a report on Monday, May 13th. They issued a buy rating and a $200.00 price target on the stock. Cantor Fitzgerald reiterated an overweight rating and issued a $205.00 price target on shares of Impinj in a report on Thursday. Needham & Company LLC reiterated a buy rating and issued a $195.00 price target on shares of Impinj in a report on Thursday. Finally, StockNews.com lowered Impinj from a hold rating to a sell rating in a research note on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $187.10.

Impinj Stock Up 4.4 %

Shares of NASDAQ PI opened at $159.27 on Thursday. The business has a fifty day simple moving average of $160.95 and a 200 day simple moving average of $133.40. The company has a debt-to-equity ratio of 3.29, a quick ratio of 6.87 and a current ratio of 9.42. Impinj has a one year low of $48.39 and a one year high of $181.88.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.74 by $0.09. The company had revenue of $102.50 million for the quarter, compared to analysts’ expectations of $97.47 million. Impinj had a negative return on equity of 27.81% and a net margin of 3.93%. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.14) earnings per share. As a group, equities research analysts expect that Impinj will post 0.04 earnings per share for the current fiscal year.

Insider Activity at Impinj

In other Impinj news, COO Hussein Mecklai sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $154.38, for a total value of $771,900.00. Following the completion of the transaction, the chief operating officer now directly owns 55,414 shares in the company, valued at $8,554,813.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Impinj news, COO Hussein Mecklai sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $154.38, for a total value of $771,900.00. Following the completion of the transaction, the chief operating officer now directly owns 55,414 shares in the company, valued at $8,554,813.32. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Jeffrey Dossett sold 475 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $175.38, for a total value of $83,305.50. Following the completion of the transaction, the executive now owns 63,642 shares of the company’s stock, valued at $11,161,533.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,049,835 shares of company stock valued at $160,809,437. 51.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PI. Charles Schwab Investment Management Inc. lifted its holdings in Impinj by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 180,847 shares of the company’s stock worth $16,282,000 after purchasing an additional 6,810 shares during the last quarter. K.J. Harrison & Partners Inc acquired a new stake in Impinj during the 4th quarter worth approximately $1,458,000. Ghisallo Capital Management LLC acquired a new stake in Impinj during the 4th quarter worth approximately $4,192,000. Eagle Asset Management Inc. lifted its holdings in Impinj by 19.6% during the 4th quarter. Eagle Asset Management Inc. now owns 204,767 shares of the company’s stock worth $18,435,000 after purchasing an additional 33,504 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in Impinj during the 1st quarter worth approximately $513,000.

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.