Analysts Set Impinj, Inc. (NASDAQ:PI) Price Target at $143.10

Impinj, Inc. (NASDAQ:PI) has received a consensus rating of “Moderate Buy” from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $154.00.

PI has been the subject of a number of analyst reports. StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a research report on Tuesday, May 21st. Susquehanna lifted their price target on shares of Impinj from $130.00 to $140.00 and gave the company a “positive” rating in a report on Tuesday, April 23rd. The Goldman Sachs Group cut shares of Impinj from a “buy” rating to a “neutral” rating and set a $156.00 price objective for the company. in a research note on Monday, May 20th. Roth Mkm lifted their target price on shares of Impinj from $125.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $150.00 price target (up previously from $130.00) on shares of Impinj in a research note on Thursday, April 25th.

Insider Activity

In related news, CEO Chris Ph.D. Diorio sold 1,244 shares of the company’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $118.67, for a total transaction of $147,625.48. Following the sale, the chief executive officer now owns 286,230 shares of the company’s stock, valued at $33,966,914.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Impinj news, major shareholder Sylebra Capital Llc sold 1,000,000 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $153.10, for a total transaction of $153,100,000.00. Following the transaction, the insider now owns 3,197,352 shares in the company, valued at $489,514,591.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Chris Ph.D. Diorio sold 1,244 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $118.67, for a total transaction of $147,625.48. Following the completion of the sale, the chief executive officer now owns 286,230 shares of the company’s stock, valued at approximately $33,966,914.10. The disclosure for this sale can be found here. Insiders sold a total of 1,088,088 shares of company stock worth $166,194,846 over the last 90 days. Corporate insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

Several hedge funds have recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC purchased a new position in Impinj in the 1st quarter worth about $32,000. GAMMA Investing LLC bought a new position in Impinj in the 4th quarter worth about $40,000. Headlands Technologies LLC purchased a new position in shares of Impinj during the fourth quarter worth approximately $58,000. Benjamin F. Edwards & Company Inc. raised its stake in shares of Impinj by 117.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock valued at $124,000 after acquiring an additional 521 shares in the last quarter. Finally, Whittier Trust Co. purchased a new stake in shares of Impinj in the fourth quarter valued at approximately $90,000.

Impinj Trading Up 2.2 %

Impinj stock opened at $156.77 on Wednesday. The company has a quick ratio of 6.87, a current ratio of 9.42 and a debt-to-equity ratio of 3.29. The company has a market cap of $4.34 billion, a P/E ratio of -447.91 and a beta of 1.80. The business has a 50-day simple moving average of $156.92 and a two-hundred day simple moving average of $123.55. Impinj has a 52-week low of $48.39 and a 52-week high of $175.41.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.14. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. The business had revenue of $76.83 million for the quarter, compared to the consensus estimate of $73.57 million. Analysts predict that Impinj will post 0.02 EPS for the current year.

Impinj Company Profile

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.