Impinj (NASDAQ:PI) Downgraded by Zacks Research to Hold

Impinj (NASDAQ:PI) was downgraded by research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday, Zacks reports.

A number of other equities analysts have also recently weighed in on the stock. Weiss Ratings upgraded shares of Impinj from a “sell (e+)” rating to a “sell (d)” rating in a research report on Thursday, July 30th. Wall Street Zen raised shares of Impinj from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Jefferies Financial Group upped their price target on shares of Impinj from $175.00 to $190.00 and gave the stock a “buy” rating in a research report on Thursday, July 30th. BMO Capital Markets began coverage on shares of Impinj in a research note on Thursday, August 20th. They issued an “outperform” rating and a $220.00 price target on the stock. Finally, Needham & Company LLC lowered their price objective on Impinj from $175.00 to $168.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Seven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $183.30.

Impinj Stock Down 3.5%

Shares of PI opened at $168.19 on Monday. The firm has a market cap of $5.14 billion, a P/E ratio of -182.82 and a beta of 1.94. Impinj has a 12 month low of $87.36 and a 12 month high of $247.06. The stock’s 50 day moving average is $152.48 and its two-hundred day moving average is $132.50. The company has a current ratio of 3.28, a quick ratio of 2.29 and a debt-to-equity ratio of 0.80.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, July 29th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.06. Impinj had a positive return on equity of 5.23% and a negative net margin of 7.26%.The business had revenue of $108.37 million during the quarter, compared to the consensus estimate of $104.60 million. During the same period in the prior year, the company posted $0.80 EPS. The business’s quarterly revenue was up 10.7% on a year-over-year basis. Impinj has set its Q3 2026 guidance at 0.590-0.630 EPS. Analysts predict that Impinj will post 0.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Impinj news, CFO Cary Baker sold 1,429 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $185.00, for a total value of $264,365.00. Following the transaction, the chief financial officer directly owned 88,226 shares of the company’s stock, valued at $16,321,810. This trade represents a 1.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sylebra Capital Llc sold 47,479 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $124.06, for a total value of $5,890,244.74. Following the transaction, the director owned 840,576 shares in the company, valued at approximately $104,281,858.56. This represents a 5.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 139,953 shares of company stock worth $18,138,781 over the last three months. Corporate insiders own 6.80% of the company’s stock.

Institutional Trading of Impinj

Large investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LP grew its holdings in Impinj by 7.7% in the 2nd quarter. Corient Private Wealth LP now owns 3,868 shares of the company’s stock valued at $554,000 after buying an additional 276 shares in the last quarter. Amundi raised its holdings in shares of Impinj by 121.9% during the 2nd quarter. Amundi now owns 5,176 shares of the company’s stock worth $741,000 after acquiring an additional 2,843 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Impinj during the 2nd quarter valued at about $272,000. California State Teachers Retirement System boosted its position in shares of Impinj by 14,407.2% during the 2nd quarter. California State Teachers Retirement System now owns 4,918,232 shares of the company’s stock valued at $704,438,000 after acquiring an additional 4,884,330 shares during the last quarter. Finally, TOP Private Wealth LLC. purchased a new stake in shares of Impinj in the second quarter valued at about $25,000.

About Impinj

Impinj, Inc, headquartered in Seattle, Washington, develops Radio Frequency Identification (RFID) solutions designed to connect everyday items to the internet. Founded in 2000, the company pioneered RAIN RFID technology with a focus on transforming supply chain and inventory processes across retail, healthcare, airport baggage handling and manufacturing. Impinj’s platform comprises RAIN RFID tag chips, fixed and handheld RFID readers, gateways, antennas and connectivity modules that enable real-time visibility of tagged items.

Impinj’s product portfolio is built around its core RAIN RFID ecosystem, offering tag chips for high-volume production (Monza series), reader chips for integration into third-party devices and complete reader and gateway systems (Speedway series and xArray).