StockNews.com Upgrades Impinj (NASDAQ:PI) to “Hold”

StockNews.com upgraded shares of Impinj (NASDAQ:PI) from a sell rating to a hold rating in a research report report published on Friday morning.

Several other equities research analysts have also issued reports on PI. Roth Mkm increased their target price on shares of Impinj from $145.00 to $175.00 and gave the stock a buy rating in a research note on Thursday, July 25th. Cantor Fitzgerald reissued an overweight rating and issued a $205.00 price objective on shares of Impinj in a report on Thursday, July 25th. Susquehanna boosted their price objective on Impinj from $150.00 to $215.00 and gave the company a positive rating in a research report on Wednesday, July 17th. Needham & Company LLC reiterated a buy rating and set a $195.00 target price on shares of Impinj in a research report on Thursday, July 25th. Finally, The Goldman Sachs Group cut shares of Impinj from a buy rating to a neutral rating and set a $156.00 price target on the stock. in a research note on Monday, May 20th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $187.10.

Impinj Trading Up 2.2 %

Shares of NASDAQ:PI opened at $163.52 on Friday. Impinj has a 12-month low of $48.39 and a 12-month high of $181.88. The business has a 50 day moving average of $160.57 and a two-hundred day moving average of $135.21. The company has a market capitalization of $4.60 billion, a PE ratio of -467.20 and a beta of 1.78.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, July 24th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.09. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The firm had revenue of $102.50 million during the quarter, compared to analyst estimates of $97.47 million. During the same period in the previous year, the firm earned ($0.14) EPS. The business’s quarterly revenue was up 19.2% on a year-over-year basis. Equities research analysts predict that Impinj will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Impinj

In related news, CEO Chris Ph.D. Diorio sold 5,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $146.49, for a total transaction of $732,450.00. Following the transaction, the chief executive officer now directly owns 286,230 shares in the company, valued at $41,929,832.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Chris Ph.D. Diorio sold 5,000 shares of Impinj stock in a transaction that occurred on Tuesday, June 11th. The stock was sold at an average price of $146.49, for a total transaction of $732,450.00. Following the transaction, the chief executive officer now owns 286,230 shares in the company, valued at $41,929,832.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Sylebra Capital Llc sold 1,000,000 shares of the business’s stock in a transaction on Thursday, June 6th. The stock was sold at an average price of $153.10, for a total value of $153,100,000.00. Following the transaction, the insider now directly owns 3,197,352 shares in the company, valued at approximately $489,514,591.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,049,835 shares of company stock worth $160,809,437. Corporate insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Impinj by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock valued at $322,384,000 after buying an additional 35,893 shares during the period. Capital International Investors acquired a new position in Impinj in the fourth quarter valued at approximately $68,211,000. Assenagon Asset Management S.A. purchased a new position in Impinj in the second quarter worth approximately $103,252,000. Janus Henderson Group PLC increased its stake in Impinj by 0.6% during the first quarter. Janus Henderson Group PLC now owns 439,562 shares of the company’s stock worth $56,376,000 after acquiring an additional 2,681 shares during the last quarter. Finally, Eagle Asset Management Inc. raised its position in Impinj by 19.6% in the fourth quarter. Eagle Asset Management Inc. now owns 204,767 shares of the company’s stock valued at $18,435,000 after purchasing an additional 33,504 shares during the period.

About Impinj

Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform wirelessly connects items and delivers data about the connected items to business and consumer applications. The company's platform comprises endpoint ICs, a miniature radios-on-a-chip that attaches to a host item and includes a number to identify the item.