Impinj (PI) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Impinj (NASDAQ:PI) from a strong sell rating to a hold rating in a report published on Thursday morning.

According to Zacks, “Impinj, Inc. is a provider of referral and information network radio frequency identification solutions to the retail, pharmaceutical, healthcare, food and beverage and other industries. The company’s products include Indy Reader Chips which consists of integrated radio chips and supporting SDKs; Monza Tag Chips, which deliver memory options and extended features to RFID tags and Speedway fixed RFID readers and antennas for RFID-based information. Impinj, Inc. is based in Seattle, Washington. “

A number of other equities research analysts have also recently commented on PI. Royal Bank of Canada reiterated a buy rating on shares of Impinj in a report on Friday, September 29th. Piper Jaffray Companies cut Impinj from an overweight rating to a neutral rating in a report on Thursday, November 2nd. BidaskClub upgraded Impinj from a buy rating to a strong-buy rating in a report on Tuesday, October 3rd. Dougherty & Co reiterated a buy rating and set a $62.00 target price on shares of Impinj in a report on Thursday, September 14th. Finally, KeyCorp restated a hold rating on shares of Impinj in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company. Impinj currently has an average rating of Hold and an average target price of $36.33.

Impinj (NASDAQ PI) traded down $0.33 on Thursday, hitting $24.01. The company had a trading volume of 458,900 shares, compared to its average volume of 472,200. The firm has a market cap of $500.69 and a PE ratio of -63.18. The company has a current ratio of 7.49, a quick ratio of 4.97 and a debt-to-equity ratio of 0.06. Impinj has a 1-year low of $19.97 and a 1-year high of $60.85.

Impinj (NASDAQ:PI) last announced 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 for the quarter, compared to analyst estimates of $32.58 million. Impinj had a negative net margin of 5.97% and a negative return on equity of 1.15%. Impinj’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.10 EPS. equities analysts expect that Impinj will post -0.41 earnings per share for the current fiscal year.

In other news, Director Clinton Bybee bought 4,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 4,417 shares of the company’s stock, valued at approximately $107,907.31. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Eric Brodersen sold 7,000 shares of the stock in a transaction on Friday, October 13th. The stock was sold at an average price of $36.85, for a total value of $257,950.00. The disclosure for this sale can be found here. Insiders have sold 15,700 shares of company stock worth $478,399 in the last 90 days. Insiders own 15.20% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of PI. Russell Investments Group Ltd. raised its position in shares of Impinj by 60.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 32,058 shares of the company’s stock worth $1,559,000 after buying an additional 12,108 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Impinj by 216.8% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 30,100 shares of the company’s stock worth $1,465,000 after buying an additional 20,600 shares during the period. Rhumbline Advisers purchased a new position in Impinj in the second quarter valued at about $933,000. Legal & General Group Plc raised its position in Impinj by 221.3% in the second quarter. Legal & General Group Plc now owns 4,520 shares of the company’s stock valued at $223,000 after purchasing an additional 3,113 shares during the period. Finally, BNP Paribas Arbitrage SA raised its position in Impinj by 1,261.0% in the second quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock valued at $102,000 after purchasing an additional 1,942 shares during the period. 82.69% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Impinj (NASDAQ:PI)

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