Impinj (NASDAQ:PI) Hits New 52-Week High – Time to Buy?

Impinj, Inc. (NASDAQ:PI) hit a new 52-week high during trading on Monday . The company traded as high as $238.44 and last traded at $237.79, with a volume of 13811 shares trading hands. The stock had previously closed at $235.65.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Susquehanna upped their price target on Impinj from $150.00 to $215.00 and gave the stock a “positive” rating in a research note on Wednesday, July 17th. Lake Street Capital increased their target price on Impinj from $155.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. StockNews.com raised Impinj from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $195.00 target price on shares of Impinj in a report on Thursday, July 25th. Finally, Evercore ISI raised their target price on Impinj from $172.00 to $205.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $191.60.

Impinj Stock Performance

The company has a 50-day simple moving average of $182.00 and a 200-day simple moving average of $162.72. The stock has a market cap of $6.59 billion, a P/E ratio of -673.29 and a beta of 1.80.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.74 by $0.09. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The company had revenue of $102.50 million during the quarter, compared to analysts’ expectations of $97.47 million. During the same period last year, the firm earned ($0.14) EPS. The business’s revenue for the quarter was up 19.2% on a year-over-year basis. As a group, sell-side analysts expect that Impinj, Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Impinj

In other news, CRO Jeffrey Dossett sold 577 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.20, for a total value of $120,708.40. Following the sale, the executive now directly owns 64,532 shares in the company, valued at $13,500,094.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CRO Jeffrey Dossett sold 577 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.20, for a total transaction of $120,708.40. Following the sale, the executive now owns 64,532 shares in the company, valued at approximately $13,500,094.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Cary Baker sold 496 shares of the company’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.17, for a total value of $103,748.32. Following the sale, the chief financial officer now owns 70,524 shares in the company, valued at $14,751,505.08. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,279 shares of company stock valued at $3,230,512. Company insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

A number of institutional investors have recently bought and sold shares of the business. Hsbc Holdings PLC grew its position in shares of Impinj by 7.3% in the second quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock valued at $432,000 after purchasing an additional 190 shares during the last quarter. Rhumbline Advisers grew its position in shares of Impinj by 0.8% in the second quarter. Rhumbline Advisers now owns 32,900 shares of the company’s stock valued at $5,158,000 after purchasing an additional 248 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Impinj during the first quarter worth approximately $32,000. Arizona State Retirement System grew its position in Impinj by 4.1% during the second quarter. Arizona State Retirement System now owns 6,581 shares of the company’s stock worth $1,032,000 after buying an additional 261 shares in the last quarter. Finally, USA Financial Formulas grew its position in Impinj by 82.0% during the third quarter. USA Financial Formulas now owns 657 shares of the company’s stock worth $142,000 after buying an additional 296 shares in the last quarter.

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.