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.
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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