Impinj (NASDAQ:PI) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Impinj (NASDAQ:PI) in a report released on Thursday, Benzinga reports. They currently have a $195.00 target price on the stock.

A number of other equities research analysts have also recently commented on the company. The Goldman Sachs Group cut Impinj from a buy rating to a neutral rating and set a $156.00 target price on the stock. in a report on Monday, May 20th. Cantor Fitzgerald started coverage on Impinj in a research note on Thursday, July 18th. They set an overweight rating and a $205.00 price objective on the stock. Susquehanna boosted their target price on shares of Impinj from $150.00 to $215.00 and gave the company a positive rating in a research note on Wednesday, July 17th. StockNews.com lowered shares of Impinj from a hold rating to a sell rating in a report on Tuesday, May 21st. Finally, Jefferies Financial Group began coverage on shares of Impinj in a report on Monday, May 13th. They set a buy rating and a $200.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $187.10.

Impinj Stock Up 0.5 %

Shares of PI stock opened at $160.06 on Thursday. The stock has a market cap of $4.44 billion, a P/E ratio of -457.31 and a beta of 1.78. Impinj has a fifty-two week low of $48.39 and a fifty-two week high of $181.88. The business has a fifty day simple moving average of $160.69 and a 200-day simple moving average of $134.63.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, July 24th. The company reported $0.83 earnings per share for the quarter, beating 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 firm posted ($0.14) EPS. The firm’s revenue for the quarter was up 19.2% on a year-over-year basis. On average, sell-side analysts anticipate that Impinj will post 0.12 earnings per share for the current year.

Insider Transactions at Impinj

In other Impinj news, CEO Chris Ph.D. Diorio sold 5,000 shares of Impinj stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $146.49, for a total value of $732,450.00. Following the transaction, the chief executive officer now owns 286,230 shares in the company, valued at approximately $41,929,832.70. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Cathal G. Phelan sold 212 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $147.52, for a total transaction of $31,274.24. Following the completion of the sale, the insider now owns 16,669 shares of the company’s stock, valued at approximately $2,459,010.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Chris Ph.D. Diorio sold 5,000 shares of Impinj stock in a transaction that occurred on Tuesday, June 11th. The shares were sold at an average price of $146.49, for a total transaction of $732,450.00. Following the transaction, the chief executive officer now directly owns 286,230 shares in the company, valued at $41,929,832.70. The disclosure for this sale can be found here. Insiders have sold a total of 1,049,835 shares of company stock worth $160,809,437 in the last three months. Company insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Impinj by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock worth $322,384,000 after acquiring an additional 35,893 shares during the period. Capital International Investors purchased a new position in shares of Impinj in the fourth quarter valued at $68,211,000. Assenagon Asset Management S.A. purchased a new position in shares of Impinj in the second quarter valued at $103,252,000. Janus Henderson Group PLC grew its holdings in Impinj by 0.6% during the 1st quarter. Janus Henderson Group PLC now owns 439,562 shares of the company’s stock valued at $56,376,000 after purchasing an additional 2,681 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its stake in Impinj by 19.6% during the 4th quarter. Eagle Asset Management Inc. now owns 204,767 shares of the company’s stock worth $18,435,000 after buying an additional 33,504 shares during the period.

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.