Shares of IMPINJ Inc (NYSE:PI) have been given a consensus rating of “Buy” by the eight brokerages that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $50.67.

Several equities research analysts have recently commented on PI shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $50.00 price target (up previously from $42.00) on shares of IMPINJ in a research report on Sunday, May 28th. Morgan Stanley lowered shares of IMPINJ from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $40.00 to $51.00 in a research report on Monday, June 19th. KeyCorp lowered shares of IMPINJ to a “hold” rating in a research report on Tuesday, June 27th. Zacks Investment Research lowered shares of IMPINJ from a “hold” rating to a “strong sell” rating in a research report on Thursday, June 29th. Finally, Needham & Company LLC upped their price target on shares of IMPINJ from $40.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, July 26th.

Shares of IMPINJ (NYSE PI) traded up 1.93% during mid-day trading on Friday, hitting $41.25. 434,619 shares of the stock traded hands. IMPINJ has a 1-year low of $23.55 and a 1-year high of $41.91. The company’s market capitalization is $860.48 million. The company’s 50-day moving average price is $38.99 and its 200 day moving average price is $38.99.

IMPINJ (NYSE:PI) last issued its earnings results on Thursday, August 3rd. The company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.04. IMPINJ had a negative return on equity of 3.11% and a negative net margin of 2.86%. The business had revenue of $34.10 million during the quarter, compared to analyst estimates of $33.41 million. During the same quarter in the previous year, the firm earned $0.06 EPS. IMPINJ’s revenue was up 31.2% on a year-over-year basis. Equities research analysts forecast that IMPINJ will post $0.05 EPS for the current fiscal year.

In other IMPINJ news, CFO Evan Fein sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $38.00, for a total value of $342,000.00. Following the completion of the transaction, the chief financial officer now directly owns 15,300 shares in the company, valued at approximately $581,400. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Eric Brodersen sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 18th. The stock was sold at an average price of $53.23, for a total value of $372,610.00. Following the completion of the transaction, the insider now owns 106,743 shares of the company’s stock, valued at $5,681,929.89. The disclosure for this sale can be found here. Insiders have sold a total of 40,500 shares of company stock valued at $1,693,315 in the last ninety days.

A number of hedge funds have recently bought and sold shares of PI. BNP Paribas Arbitrage SA boosted its stake in IMPINJ by 1,261.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock worth $102,000 after purchasing an additional 1,942 shares during the period. American International Group Inc. bought a new position in IMPINJ in the 1st quarter worth approximately $112,000. ClariVest Asset Management LLC bought a new position in IMPINJ in the 1st quarter worth approximately $127,000. Nordea Investment Management AB bought a new position in IMPINJ in the 1st quarter worth approximately $127,000. Finally, Turner Investments LLC bought a new position in IMPINJ in the 2nd quarter worth approximately $146,000.

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About IMPINJ

Impinj, Inc is a provider of RAIN radio frequency identification (RFID) solutions. The Company sells a platform that includes endpoint integrated circuits (ICs), reader ICs, readers and gateways that enable wireless connectivity to everyday items, and software that delivers Item Intelligence from endpoint reads.

Analyst Recommendations for IMPINJ (NYSE:PI)

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