Impinj, Inc. (PI) Lowered to “Neutral” at Piper Jaffray Companies

Impinj, Inc. (NASDAQ:PI) was downgraded by research analysts at Piper Jaffray Companies from an “overweight” rating to a “neutral” rating in a research report issued on Thursday, November 2nd, MarketBeat.com reports.

A number of other research analysts have also issued reports on PI. Zacks Investment Research lowered shares of Impinj from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Royal Bank Of Canada restated an “outperform” rating on shares of Impinj in a report on Saturday, July 22nd. Needham & Company LLC raised their price target on shares of Impinj from $40.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. Dougherty & Co initiated coverage on shares of Impinj in a research report on Wednesday, August 23rd. They issued a “buy” rating and a $62.00 price target for the company. Finally, BidaskClub downgraded shares of Impinj from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. Impinj presently has an average rating of “Hold” and a consensus target price of $36.67.

Shares of Impinj (NASDAQ:PI) traded down $0.23 during trading on Thursday, reaching $25.00. 564,026 shares of the company’s stock were exchanged, compared to its average volume of 757,679. 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 has a 12-month low of $19.97 and a 12-month high of $60.85.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, November 1st. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The company had revenue of $32.60 million during the quarter, compared to the consensus estimate of $32.58 million. Impinj had a negative return on equity of 1.15% and a negative net margin of 5.97%. The firm’s revenue was up 5.2% compared to the same quarter last year. During the same period last year, the company posted $0.10 EPS. analysts predict that Impinj will post -0.31 EPS for the current fiscal year.

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In other Impinj news, COO Eric Brodersen sold 3,500 shares of Impinj stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $35.74, for a total transaction of $125,090.00. Following the completion of the transaction, the chief operating officer now owns 101,443 shares of the company’s stock, valued at approximately $3,625,572.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Clinton Bybee acquired 4,000 shares of the business’s stock in a transaction dated Thursday, November 9th. The shares were acquired at an average cost of $24.43 per share, with a total value of $97,720.00. Following the acquisition, the director now directly owns 4,417 shares of the company’s stock, valued at approximately $107,907.31. The disclosure for this purchase can be found here. Insiders sold a total of 42,400 shares of company stock worth $1,529,742 over the last 90 days. 15.20% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Gilder Gagnon Howe & Co. LLC boosted its stake in Impinj by 4.0% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 2,191,393 shares of the company’s stock worth $91,184,000 after buying an additional 84,514 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in Impinj by 661.1% in the third quarter. Allianz Asset Management GmbH now owns 775,896 shares of the company’s stock worth $32,285,000 after buying an additional 673,948 shares in the last quarter. Hood River Capital Management LLC raised its holdings in shares of Impinj by 1.1% during the third quarter. Hood River Capital Management LLC now owns 739,823 shares of the company’s stock valued at $30,784,000 after acquiring an additional 7,858 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its holdings in shares of Impinj by 125.4% during the third quarter. Chevy Chase Trust Holdings Inc. now owns 643,979 shares of the company’s stock valued at $26,795,000 after acquiring an additional 358,279 shares in the last quarter. Finally, Sumitomo Mitsui Asset Management Company LTD purchased a new stake in Impinj in the third quarter worth $26,714,000. 74.47% of the stock is owned by institutional investors and hedge funds.

About Impinj

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.

Analyst Recommendations for Impinj (NASDAQ:PI)

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