Impinj (NASDAQ:PI) Upgraded by StockNews.com to “Hold” Rating

StockNews.com upgraded shares of Impinj (NASDAQ:PIFree Report) from a sell rating to a hold rating in a research report released on Thursday morning.

A number of other research firms also recently weighed in on PI. Susquehanna raised their price target on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research report on Monday, October 21st. Piper Sandler reissued an “overweight” rating and set a $235.00 price objective (up from $225.00) on shares of Impinj in a report on Thursday, October 24th. Lake Street Capital upped their target price on shares of Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Cantor Fitzgerald lifted their price target on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group upped their price objective on Impinj from $165.00 to $200.00 and gave the company a “neutral” rating in a research note on Friday, October 25th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Impinj has an average rating of “Moderate Buy” and an average target price of $224.60.

View Our Latest Stock Analysis on PI

Impinj Trading Down 2.9 %

PI opened at $132.51 on Thursday. Impinj has a twelve month low of $87.15 and a twelve month high of $239.88. The firm 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 fifty day simple moving average of $164.71 and a 200 day simple moving average of $176.40.

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

Insiders Place Their Bets

In other Impinj news, COO Hussein Mecklai sold 10,000 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $204.75, for a total transaction of $2,047,500.00. Following the completion of the transaction, the chief operating officer now directly owns 60,041 shares of the company’s stock, valued at approximately $12,293,394.75. This trade represents a 14.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 841 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $141.02, for a total value of $118,597.82. Following the completion of the sale, the chief executive officer now directly owns 333,856 shares in the company, valued at $47,080,373.12. This represents a 0.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 655,038 shares of company stock worth $131,064,693. 51.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Impinj

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC bought a new position in shares of Impinj in the second quarter valued at $30,116,000. Hsbc Holdings PLC raised its position in shares of Impinj by 7.3% during the second quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock worth $432,000 after purchasing an additional 190 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Impinj during the second quarter valued at $204,000. Xponance Inc. acquired a new position in shares of Impinj in the 2nd quarter valued at $224,000. Finally, Marshall Wace LLP increased its stake in Impinj by 366.1% in the 2nd quarter. Marshall Wace LLP now owns 7,924 shares of the company’s stock worth $1,242,000 after purchasing an additional 6,224 shares in the last quarter.

Impinj Company Profile

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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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