Impinj (NASDAQ:PI) Rating Reiterated by Cantor Fitzgerald

Cantor Fitzgerald restated their overweight rating on shares of Impinj (NASDAQ:PI) in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a $205.00 target price on the stock. Cantor Fitzgerald also issued estimates for Impinj’s FY2024 earnings at $0.07 EPS.

Several other analysts have also weighed in on the stock. Susquehanna raised their price objective on shares of Impinj from $150.00 to $215.00 and gave the stock a positive rating in a report on Wednesday, July 17th. 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. Jefferies Financial Group initiated coverage on Impinj in a report on Monday, May 13th. They issued a buy rating and a $200.00 price target for the company. Piper Sandler increased their price objective on shares of Impinj from $150.00 to $180.00 and gave the stock an overweight rating in a report on Thursday, July 11th. Finally, StockNews.com lowered shares of Impinj from a hold rating to a sell rating in a research report on Tuesday, May 21st. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Impinj has an average rating of Moderate Buy and an average price target of $187.10.

Impinj Trading Up 0.5 %

Shares of PI opened at $160.06 on Thursday. The stock has a market cap of $4.44 billion, a PE ratio of -457.31 and a beta of 1.78. Impinj has a 1 year low of $48.39 and a 1 year high of $181.88. The stock has a 50 day simple moving average of $160.69 and a 200-day simple moving average of $134.63.

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, beating 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 company had revenue of $102.50 million during the quarter, compared to analysts’ expectations of $97.47 million. During the same period last year, the business earned ($0.14) earnings per share. The business’s revenue was up 19.2% on a year-over-year basis. On average, sell-side analysts forecast that Impinj will post 0.12 EPS for the current fiscal year.

Insider Activity at Impinj

In related news, CEO Chris Ph.D. Diorio sold 5,000 shares of Impinj stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $146.49, for a total transaction of $732,450.00. Following the completion of the sale, the chief executive officer now directly owns 286,230 shares of the company’s stock, valued at $41,929,832.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Cary Baker sold 10,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $159.08, for a total value of $1,590,800.00. Following the completion of the sale, the chief financial officer now owns 67,948 shares in the company, valued at approximately $10,809,167.84. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Chris Ph.D. Diorio sold 5,000 shares of the business’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $146.49, for a total value of $732,450.00. Following the completion of the transaction, the chief executive officer now directly owns 286,230 shares of the company’s stock, valued at $41,929,832.70. The disclosure for this sale can be found here. Insiders have sold 1,049,835 shares of company stock worth $160,809,437 over the last ninety days. Company insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

Several institutional investors have recently modified their holdings of PI. Future Financial Wealth Managment LLC acquired a new stake in Impinj during the 1st quarter worth approximately $32,000. GAMMA Investing LLC acquired a new stake in shares of Impinj during the fourth quarter worth $40,000. Headlands Technologies LLC bought a new stake in Impinj in the 4th quarter valued at $58,000. Benjamin F. Edwards & Company Inc. boosted its stake in Impinj by 117.9% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock worth $124,000 after purchasing an additional 521 shares during the period. Finally, Jamison Private Wealth Management Inc. increased its holdings in Impinj by 211.2% during the 2nd quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock worth $127,000 after purchasing an additional 549 shares in the last quarter.

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.