Impinj (NASDAQ:PI) PT Raised to $94.00

Impinj (NASDAQ:PIGet Rating) had its price target raised by equities researchers at Lake Street Capital from $87.00 to $94.00 in a research note issued on Thursday, The Fly reports. Lake Street Capital’s price objective suggests a potential upside of 19.68% from the company’s previous close.

Several other equities analysts also recently commented on PI. Needham & Company LLC reiterated a “maintains” rating and set a $102.00 price target (up from $96.00) on shares of Impinj in a report on Thursday. The Goldman Sachs Group reaffirmed a “maintains” rating on shares of Impinj in a research report on Thursday. Piper Sandler reissued a “maintains” rating and issued a $100.00 price objective (up previously from $80.00) on shares of Impinj in a research note on Thursday. Roth Capital decreased their target price on Impinj from $95.00 to $76.00 in a research report on Thursday, April 28th. Finally, StockNews.com started coverage on Impinj in a research report on Thursday, March 31st. They set a “sell” rating for the company. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Impinj has an average rating of “Moderate Buy” and a consensus price target of $92.70.

Impinj Price Performance

Shares of Impinj stock traded up $8.66 during trading hours on Thursday, reaching $78.54. The company’s stock had a trading volume of 13,374 shares, compared to its average volume of 317,688. The firm has a 50 day moving average price of $56.06 and a 200-day moving average price of $61.04. Impinj has a one year low of $39.74 and a one year high of $94.39. The stock has a market cap of $1.99 billion, a P/E ratio of -37.40 and a beta of 2.10.

Impinj (NASDAQ:PIGet Rating) last posted its earnings results on Wednesday, July 27th. The company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.13. Impinj had a negative net margin of 26.39% and a negative return on equity of 89.38%. The firm had revenue of $59.80 million for the quarter, compared to the consensus estimate of $55.12 million. During the same period in the previous year, the firm posted ($0.33) EPS. The business’s quarterly revenue was up 26.4% on a year-over-year basis. As a group, sell-side analysts forecast that Impinj will post -1.48 EPS for the current fiscal year.

Insider Activity

In related news, CEO Chris Ph.D. Diorio sold 646 shares of the company’s stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $47.93, for a total value of $30,962.78. Following the completion of the transaction, the chief executive officer now owns 314,714 shares of the company’s stock, valued at approximately $15,084,242.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Impinj news, CEO Chris Ph.D. Diorio sold 646 shares of Impinj stock in a transaction on Thursday, June 16th. The shares were sold at an average price of $47.93, for a total transaction of $30,962.78. Following the sale, the chief executive officer now owns 314,714 shares of the company’s stock, valued at approximately $15,084,242.02. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Cary Baker sold 1,458 shares of Impinj stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $43.24, for a total transaction of $63,043.92. Following the sale, the chief financial officer now directly owns 36,666 shares in the company, valued at approximately $1,585,437.84. The disclosure for this sale can be found here. Insiders sold a total of 11,069 shares of company stock valued at $606,135 in the last quarter. 20.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. acquired a new position in shares of Impinj during the 1st quarter valued at about $39,000. Quantbot Technologies LP acquired a new position in shares of Impinj during the 1st quarter valued at about $101,000. Benjamin F. Edwards & Company Inc. lifted its position in Impinj by 49.8% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 2,171 shares of the company’s stock valued at $138,000 after buying an additional 722 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Impinj by 35.9% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,434 shares of the company’s stock valued at $155,000 after buying an additional 643 shares during the last quarter. Finally, Strs Ohio acquired a new position in Impinj in the fourth quarter valued at about $266,000. Institutional investors and hedge funds own 88.00% of the company’s stock.

Impinj Company Profile

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Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform, which comprises multiple product families, wirelessly connects individual 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.

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