Impinj’s (PI) Outperform Rating Reaffirmed at Evercore ISI

Evercore ISI reiterated their outperform rating on shares of Impinj (NASDAQ:PI) in a research note released on Thursday, Benzinga reports. Evercore ISI currently has a $270.00 price objective on the stock, up from their previous price objective of $205.00.

A number of other research analysts have also recently weighed in on the stock. Piper Sandler reiterated an “overweight” rating and set a $235.00 price objective (up previously from $225.00) on shares of Impinj in a research report on Thursday. Roth Mkm increased their price objective on shares of Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Susquehanna boosted their target price on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research report on Monday. Cantor Fitzgerald reiterated an “overweight” rating and issued a $205.00 price target on shares of Impinj in a report on Thursday, July 25th. Finally, StockNews.com upgraded Impinj from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Impinj currently has an average rating of “Moderate Buy” and a consensus target price of $220.20.

Impinj Trading Up 2.3 %

PI traded up $4.35 during trading hours on Thursday, hitting $196.56. The company’s stock had a trading volume of 88,703 shares, compared to its average volume of 464,708. The stock has a market cap of $5.53 billion, a price-to-earnings ratio of 662.79 and a beta of 1.80. The business’s 50-day moving average price is $195.60 and its 200-day moving average price is $168.43. Impinj has a 12 month low of $58.56 and a 12 month high of $239.88.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.08. The business had revenue of $95.20 million for the quarter, compared to the consensus estimate of $92.86 million. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The company’s quarterly revenue was up 46.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.36) earnings per share. On average, analysts forecast that Impinj will post 0.31 earnings per share for the current year.

Insider Buying and Selling at Impinj

In related news, CRO Jeffrey Dossett sold 15,000 shares of the company’s stock in a transaction dated 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 sale, the executive now directly owns 63,642 shares of the company’s stock, valued at $10,043,344.02. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were acquired at an average cost of $4.69 per share, for a total transaction of $20,000,003.17. Following the acquisition, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Jeffrey Dossett sold 15,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $157.81, for a total value of $2,367,150.00. Following the sale, the executive now owns 63,642 shares of the company’s stock, 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. Insiders sold a total of 21,779 shares of company stock valued at $3,825,046 in the last ninety days. Corporate insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

A number of large investors have recently added to or reduced their stakes in PI. SG Americas Securities LLC acquired a new position in shares of Impinj during the first quarter worth $513,000. TimesSquare Capital Management LLC acquired a new position in Impinj during the 1st quarter valued at about $19,195,000. Harbor Capital Advisors Inc. increased its position in Impinj by 112.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 13,533 shares of the company’s stock valued at $2,122,000 after buying an additional 7,151 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Impinj by 13.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company’s stock valued at $7,990,000 after buying an additional 7,247 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Impinj by 1.5% in the first 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 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.