Impinj (NASDAQ:PI) Posts Earnings Results

by · The Markets Daily

Impinj (NASDAQ:PI – Get Free Report) posted its earnings results on Wednesday. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08, Briefing.com reports. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The firm had revenue of $95.20 million for the quarter, compared to the consensus estimate of $92.86 million. During the same quarter in the prior year, the business earned ($0.36) EPS. The business’s revenue for the quarter was up 46.5% on a year-over-year basis. Impinj updated its Q4 guidance to $0.45-$0.49 EPS and its Q4 2024 guidance to 0.450-0.490 EPS.

Impinj Stock Performance

Shares of Impinj stock traded down $30.25 during midday trading on Thursday, hitting $192.21. The company had a trading volume of 2,223,607 shares, compared to its average volume of 420,962. The stock has a market capitalization of $5.40 billion, a P/E ratio of 662.79 and a beta of 1.80. Impinj has a 52-week low of $48.39 and a 52-week high of $239.88. The company has a 50 day moving average of $195.60 and a 200 day moving average of $168.43.

Insider Activity at Impinj

In other Impinj news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were acquired at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the transaction, the insider now owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Impinj news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were acquired at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the transaction, the insider now owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CRO Jeffrey Dossett sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $157.81, for a total value of $2,367,150.00. Following the completion of the transaction, the executive now directly owns 63,642 shares in the company, valued at $10,043,344.02. 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 three months, insiders have sold 21,779 shares of company stock valued at $3,825,046. 51.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

PI has been the topic of a number of research analyst reports. Susquehanna upped their target price on Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a report on Monday. Needham & Company LLC upped their target price on Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday. Evercore ISI reiterated an “outperform” rating and set a $270.00 target price (up previously from $205.00) on shares of Impinj in a report on Thursday. Piper Sandler reiterated an “overweight” rating and set a $235.00 target price (up previously from $225.00) on shares of Impinj in a report on Thursday. Finally, StockNews.com upgraded Impinj from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Impinj has an average rating of “Moderate Buy” and a consensus price target of $220.20.

Read Our Latest Research Report on PI

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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