Impinj (NASDAQ:PI) Rating Reiterated by Piper Sandler

by · The Markets Daily

Piper Sandler reissued their overweight rating on shares of Impinj (NASDAQ:PI – Free Report) in a research note published on Friday morning, Benzinga reports. They currently have a $225.00 price objective on the stock, up from their previous price objective of $180.00.

Other equities analysts have also recently issued reports about the company. StockNews.com upgraded Impinj from a sell rating to a hold rating in a report on Friday, July 26th. Lake Street Capital lifted their price target on Impinj from $155.00 to $190.00 and gave the company a buy rating in a report on Thursday, July 25th. Evercore ISI lifted their price target on Impinj from $172.00 to $205.00 and gave the company an outperform rating in a report on Thursday, July 25th. Needham & Company LLC restated a buy rating and issued a $195.00 target price on shares of Impinj in a research note on Thursday, July 25th. Finally, Cantor Fitzgerald restated an overweight rating and issued a $205.00 target price on shares of Impinj in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus target price of $191.60.

Read Our Latest Report on PI

Impinj Price Performance

Shares of Impinj stock opened at $216.52 on Friday. The business’s fifty day moving average price is $169.34 and its two-hundred day moving average price is $155.95. The company has a market capitalization of $6.09 billion, a P/E ratio of -615.91 and a beta of 1.78. Impinj has a 1-year low of $48.39 and a 1-year high of $220.17.

Impinj (NASDAQ:PI – Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The company had revenue of $102.50 million for the quarter, compared to the consensus estimate of $97.47 million. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The company’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.14) EPS. On average, research analysts expect that Impinj will post 0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Cary Baker sold 356 shares of the business’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $175.42, for a total transaction of $62,449.52. Following the completion of the transaction, the chief financial officer now owns 69,760 shares of the company’s stock, valued at approximately $12,237,299.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Cary Baker sold 356 shares of the stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $175.42, for a total value of $62,449.52. Following the completion of the transaction, the chief financial officer now directly owns 69,760 shares of the company’s stock, valued at approximately $12,237,299.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was bought at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the acquisition, the insider now owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. The disclosure for this purchase can be found here. Insiders sold 26,713 shares of company stock valued at $4,469,082 over the last quarter. Insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Impinj by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock valued at $322,384,000 after purchasing an additional 35,893 shares in the last quarter. Capital International Investors bought a new position in shares of Impinj in the 4th quarter worth $68,211,000. Assenagon Asset Management S.A. bought a new position in shares of Impinj in the 2nd quarter worth $103,252,000. Janus Henderson Group PLC boosted its position in shares of Impinj by 0.6% in the 1st quarter. Janus Henderson Group PLC now owns 439,562 shares of the company’s stock worth $56,376,000 after purchasing an additional 2,681 shares during the last quarter. Finally, Eagle Asset Management Inc. boosted its position in shares of Impinj by 19.6% in the 4th quarter. Eagle Asset Management Inc. now owns 204,767 shares of the company’s stock worth $18,435,000 after purchasing an additional 33,504 shares during the last quarter.

About Impinj

(Get Free Report)

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.

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