Impinj, Inc. (NASDAQ:PI) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Impinj, Inc. (NASDAQ:PIGet Free Report) have earned a consensus rating of “Moderate Buy” from the ten ratings firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $224.60.

Several equities research analysts have recently weighed in on the stock. Needham & Company LLC upped their target price on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Evercore ISI reaffirmed an “outperform” rating and set a $270.00 price objective (up previously from $205.00) on shares of Impinj in a report on Thursday, October 24th. Lake Street Capital boosted their target price on Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. StockNews.com raised Impinj from a “sell” rating to a “hold” rating in a report on Thursday. Finally, Cantor Fitzgerald boosted their price objective on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th.

View Our Latest Research Report on PI

Insider Transactions at Impinj

In other news, COO Hussein Mecklai sold 338 shares of Impinj stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $141.02, for a total transaction of $47,664.76. Following the completion of the sale, the chief operating officer now owns 61,586 shares in the company, valued at $8,684,857.72. The trade was a 0.55 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Sylebra Capital Llc sold 250,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $203.00, for a total transaction of $50,750,000.00. Following the completion of the transaction, the insider now owns 2,222,352 shares in the company, valued at $451,137,456. This represents a 10.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 655,038 shares of company stock worth $131,064,693 over the last 90 days. 51.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Impinj

A number of institutional investors have recently made changes to their positions in PI. FMR LLC boosted its stake in Impinj by 1.5% during the 3rd quarter. FMR LLC now owns 4,217,403 shares of the company’s stock worth $913,152,000 after acquiring an additional 60,461 shares during the last quarter. State Street Corp raised its holdings in Impinj by 25.7% in the third quarter. State Street Corp now owns 1,078,676 shares of the company’s stock worth $233,555,000 after purchasing an additional 220,776 shares during the period. Geode Capital Management LLC boosted its position in shares of Impinj by 1.4% during the third quarter. Geode Capital Management LLC now owns 542,924 shares of the company’s stock worth $117,576,000 after purchasing an additional 7,676 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Impinj by 15.0% in the 3rd quarter. Jennison Associates LLC now owns 239,140 shares of the company’s stock valued at $51,779,000 after buying an additional 31,269 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Impinj by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 193,240 shares of the company’s stock valued at $41,840,000 after buying an additional 6,232 shares in the last quarter.

Impinj Stock Down 2.9 %

Shares of PI opened at $132.51 on Friday. Impinj has a 12 month low of $87.15 and a 12 month high of $239.88. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 148.89 and a beta of 1.88. The company has a 50-day moving average price of $164.71 and a two-hundred day moving average price of $176.40.

Impinj (NASDAQ:PIGet Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.48 by $0.08. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The business had revenue of $95.20 million for the quarter, compared to analyst estimates of $92.86 million. During the same quarter in the previous year, the firm earned ($0.36) EPS. Impinj’s quarterly revenue was up 46.5% on a year-over-year basis. Equities research analysts expect that Impinj will post 0.4 EPS for the current fiscal year.

Impinj Company Profile

(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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Analyst Recommendations for Impinj (NASDAQ:PI)

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