Impinj, Inc. (NASDAQ:PI) had its target price trimmed by Royal Bank Of Canada from $50.00 to $41.00 in a report published on Thursday, November 2nd, Marketbeat Ratings reports. The brokerage currently has an outperform rating on the stock.
PI has been the topic of several other reports. BidaskClub upgraded shares of Impinj from a buy rating to a strong-buy rating in a research note on Tuesday, October 3rd. Zacks Investment Research downgraded shares of Impinj from a buy rating to a hold rating in a research note on Friday, October 27th. Needham & Company LLC increased their price objective on shares of Impinj from $40.00 to $55.00 and gave the stock a buy rating in a research note on Wednesday, July 26th. KeyCorp reiterated a hold rating on shares of Impinj in a research note on Wednesday, August 23rd. Finally, Dougherty & Co reiterated a buy rating and set a $62.00 price objective on shares of Impinj in a research note on Thursday, September 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $36.67.
Shares of Impinj (PI) traded down $0.23 on Thursday, hitting $25.00. 564,026 shares of the stock traded hands, compared to its average volume of 757,679. Impinj has a 52 week low of $19.97 and a 52 week high of $60.85. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.97 and a current ratio of 7.49.
Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, November 1st. The company reported ($0.08) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.04). Impinj had a negative net margin of 5.97% and a negative return on equity of 1.15%. The company had revenue of $32.60 million during the quarter, compared to the consensus estimate of $32.58 million. During the same period in the previous year, the company earned $0.10 earnings per share. Impinj’s revenue for the quarter was up 5.2% compared to the same quarter last year. equities research analysts anticipate that Impinj will post -0.31 EPS for the current fiscal year.
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In other news, CFO Evan Fein sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $38.00, for a total transaction of $342,000.00. Following the completion of the sale, the chief financial officer now owns 15,300 shares of the company’s stock, valued at approximately $581,400. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Eric Brodersen sold 5,400 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $25.43, for a total transaction of $137,322.00. Following the sale, the insider now directly owns 78,743 shares of the company’s stock, valued at approximately $2,002,434.49. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,400 shares of company stock valued at $1,529,742. 15.20% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of PI. BNP Paribas Arbitrage SA raised its stake in Impinj by 1,261.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock valued at $102,000 after acquiring an additional 1,942 shares during the period. Bronfman E.L. Rothschild L.P. bought a new stake in Impinj in the 3rd quarter valued at about $116,000. Turner Investments LLC purchased a new position in Impinj during the 2nd quarter valued at about $146,000. Cornerstone Capital Management Holdings LLC. purchased a new position in Impinj during the 3rd quarter valued at about $128,000. Finally, PNC Financial Services Group Inc. grew its holdings in Impinj by 95.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,621 shares of the company’s stock valued at $176,000 after buying an additional 1,765 shares in the last quarter. 74.47% of the stock is currently owned by hedge funds and other institutional investors.
Impinj Company Profile
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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