IMPINJ Inc (NYSE:PI) has been assigned an average rating of “Buy” from the eight research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $45.33.
A number of research analysts recently weighed in on PI shares. Zacks Investment Research raised shares of IMPINJ from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research report on Tuesday, April 25th. Canaccord Genuity reaffirmed a “buy” rating and issued a $38.00 target price on shares of IMPINJ in a research report on Friday, May 12th. Needham & Company LLC raised their target price on shares of IMPINJ from $40.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th. Morgan Stanley downgraded shares of IMPINJ from an “overweight” rating to an “equal weight” rating and raised their target price for the company from $40.00 to $51.00 in a research report on Monday, June 19th. Finally, KeyCorp downgraded shares of IMPINJ to a “hold” rating in a research report on Tuesday, June 27th.
In other IMPINJ news, insider Eric Brodersen sold 7,000 shares of the stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $46.93, for a total value of $328,510.00. Following the completion of the sale, the insider now owns 115,043 shares in the company, valued at $5,398,967.99. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Evan Fein sold 10,000 shares of the stock in a transaction on Friday, June 16th. The shares were sold at an average price of $53.19, for a total transaction of $531,900.00. Following the completion of the sale, the chief financial officer now owns 21,100 shares of the company’s stock, valued at approximately $1,122,309. The disclosure for this sale can be found here. In the last quarter, insiders sold 85,666 shares of company stock valued at $3,857,412.
Several hedge funds have recently bought and sold shares of the company. Sylebra HK Co Ltd bought a new stake in IMPINJ during the first quarter worth about $88,898,000. Gilder Gagnon Howe & Co. LLC boosted its stake in IMPINJ by 7.4% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 2,106,879 shares of the company’s stock worth $102,500,000 after buying an additional 145,201 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in IMPINJ by 4.0% in the first quarter. Bank of New York Mellon Corp now owns 1,157,558 shares of the company’s stock worth $35,039,000 after buying an additional 44,403 shares in the last quarter. Alliancebernstein L.P. bought a new stake in IMPINJ during the first quarter worth about $20,284,000. Finally, JPMorgan Chase & Co. boosted its stake in IMPINJ by 245.3% in the first quarter. JPMorgan Chase & Co. now owns 576,631 shares of the company’s stock worth $17,455,000 after buying an additional 409,635 shares in the last quarter.
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Shares of IMPINJ (NYSE:PI) opened at 37.42 on Tuesday. IMPINJ has a 1-year low of $18.75 and a 1-year high of $60.85. The company has a 50 day moving average of $52.00 and a 200 day moving average of $39.37. The firm’s market cap is $772.16 million.
IMPINJ (NYSE:PI) last released its earnings results on Thursday, August 3rd. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The business had revenue of $34.10 million during the quarter, compared to the consensus estimate of $33.41 million. IMPINJ had a negative net margin of 2.86% and a negative return on equity of 3.11%. The firm’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.06 earnings per share. On average, equities analysts forecast that IMPINJ will post $0.10 earnings per share for the current fiscal year.
Impinj, Inc is a provider of RAIN radio frequency identification (RFID) solutions. The Company sells a platform that includes endpoint integrated circuits (ICs), reader ICs, readers and gateways that enable wireless connectivity to everyday items, and software that delivers Item Intelligence from endpoint reads.
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