Impinj (NASDAQ:PI) Updates Q4 Earnings Guidance

Impinj (NASDAQ:PI) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.45-$0.49 for the period, compared to the consensus earnings per share estimate of $0.40. The company issued revenue guidance of $91.0-$94.0 million, compared to the consensus revenue estimate of $90.06 million. Impinj also updated its Q4 2024 guidance to 0.450-0.490 EPS.

Impinj Stock Down 11.3 %

PI traded down $25.07 during trading on Thursday, reaching $197.39. 1,612,711 shares of the company were exchanged, compared to its average volume of 462,946. The company’s 50-day moving average is $195.01 and its two-hundred day moving average is $168.26. The company has a market cap of $5.55 billion, a price-to-earnings ratio of 659.38 and a beta of 1.80. Impinj has a 12-month low of $48.39 and a 12-month high of $239.88.

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 analysts’ consensus estimates of $0.74 by $0.09. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The business had revenue of $102.50 million for the quarter, compared to analysts’ expectations of $97.47 million. During the same quarter in the prior year, the firm posted ($0.14) EPS. The firm’s quarterly revenue was up 19.2% on a year-over-year basis. Equities analysts forecast that Impinj will post 0.31 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on PI. Roth Mkm raised their price target on Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Evercore ISI reiterated an “outperform” rating and set a $270.00 price objective (up from $205.00) on shares of Impinj in a research report on Thursday. Lake Street Capital increased their price objective on Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research report on Thursday. Susquehanna increased their price objective on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research report on Monday. Finally, StockNews.com upgraded Impinj from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Impinj has an average rating of “Moderate Buy” and an average target price of $220.20.

Insiders Place Their Bets

In other Impinj news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the company’s stock in a transaction on Friday, September 13th. The stock was acquired at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the acquisition, the insider now owns 33,050,456 shares in the company, valued at $155,006,638.64. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Impinj news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the company’s stock in a transaction on Friday, September 13th. The stock was acquired at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the acquisition, the insider now owns 33,050,456 shares in the company, valued at $155,006,638.64. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Chris Ph.D. Diorio sold 1,498 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $209.12, for a total value of $313,261.76. Following the completion of the transaction, the chief executive officer now owns 292,532 shares of the company’s stock, valued at approximately $61,174,291.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 21,779 shares of company stock worth $3,825,046. 51.00% of the stock is currently owned by company insiders.

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.