Impinj, Inc. (NASDAQ:PI) Receives Average Rating of “Moderate Buy” from Brokerages

Impinj, Inc. (NASDAQ:PI) has been given an average rating of “Moderate Buy” by the ten analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $191.60.

PI has been the subject of several analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $195.00 price objective on shares of Impinj in a research note on Thursday, July 25th. Roth Mkm lifted their price target on shares of Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Piper Sandler reissued an “overweight” rating and set a $225.00 price target (up previously from $180.00) on shares of Impinj in a research report on Friday, September 27th. Cantor Fitzgerald restated an “overweight” rating and set a $205.00 price objective on shares of Impinj in a research note on Thursday, July 25th. Finally, Lake Street Capital upped their target price on Impinj from $155.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, July 25th.

Insiders Place Their Bets

In related news, insider Cathal G. Phelan sold 209 shares of the firm’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $209.15, for a total transaction of $43,712.35. Following the transaction, the insider now directly owns 17,647 shares of the company’s stock, valued at $3,690,870.05. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Cathal G. Phelan sold 209 shares of Impinj stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $209.15, for a total transaction of $43,712.35. Following the sale, the insider now directly owns 17,647 shares in the company, valued at $3,690,870.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Jeffrey Dossett sold 577 shares of the business’s stock in a transaction dated Tuesday, September 24th. The stock was sold at an average price of $209.20, for a total transaction of $120,708.40. Following the completion of the transaction, the executive now directly owns 64,532 shares in the company, valued at $13,500,094.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,713 shares of company stock valued at $3,657,482. Corporate insiders own 51.00% of the company’s stock.

Institutional Investors Weigh In On Impinj

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PI. Future Financial Wealth Managment LLC purchased a new stake in shares of Impinj during the first quarter worth $32,000. SouthState Corp bought a new position in Impinj in the 2nd quarter worth about $94,000. nVerses Capital LLC boosted its stake in Impinj by 75.0% in the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after purchasing an additional 300 shares during the period. Benjamin F. Edwards & Company Inc. grew its holdings in Impinj by 117.9% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock valued at $124,000 after buying an additional 521 shares in the last quarter. Finally, Jamison Private Wealth Management Inc. increased its position in shares of Impinj by 211.2% during the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock valued at $127,000 after buying an additional 549 shares during the period.

Impinj Stock Performance

NASDAQ PI opened at $231.72 on Friday. The stock has a market cap of $6.52 billion, a PE ratio of 799.03 and a beta of 1.80. The firm has a 50-day moving average of $180.07 and a 200-day moving average of $161.47. Impinj has a 52-week low of $48.39 and a 52-week high of $232.00.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $97.47 million. During the same period last year, the business posted ($0.14) earnings per share. The business’s revenue for the quarter was up 19.2% compared to the same quarter last year. As a group, analysts predict that Impinj will post 0.31 EPS for the current fiscal year.

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.