Impinj, Inc. (PI) Receives Consensus Rating of “Hold” from Brokerages

Impinj, Inc. (NASDAQ:PI) has earned a consensus rating of “Hold” from the nine analysts that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $35.80.

A number of research analysts recently commented on PI shares. Zacks Investment Research upgraded shares of Impinj from a “sell” rating to a “buy” rating and set a $39.00 price objective on the stock in a research note on Wednesday, October 25th. BidaskClub lowered shares of Impinj from a “sell” rating to a “strong sell” rating in a research note on Friday. Canaccord Genuity reiterated a “buy” rating and set a $35.00 price objective (down previously from $50.00) on shares of Impinj in a research note on Thursday, November 2nd. Royal Bank of Canada lowered their price objective on shares of Impinj from $50.00 to $41.00 and set an “outperform” rating on the stock in a research note on Thursday, November 2nd. Finally, Needham & Company LLC lowered their price objective on shares of Impinj from $48.00 to $45.00 and set a “buy” rating on the stock in a research note on Thursday, October 26th.

Impinj (NASDAQ:PI) traded down $0.57 during midday trading on Friday, hitting $21.70. 1,043,417 shares of the company were exchanged, compared to its average volume of 542,794. Impinj has a fifty-two week low of $19.97 and a fifty-two week high of $60.85. The company has a quick ratio of 4.97, a current ratio of 7.49 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $443.15 and a price-to-earnings ratio of -57.11.

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, November 1st. The company reported ($0.08) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.04). Impinj had a negative net margin of 5.97% and a negative return on equity of 1.15%. The company had revenue of $32.60 million for the quarter, compared to analyst estimates of $32.58 million. During the same quarter in the prior year, the business earned $0.10 EPS. Impinj’s revenue was up 5.2% compared to the same quarter last year. analysts forecast that Impinj will post -0.41 EPS for the current year.

In other Impinj news, Director Clinton Bybee purchased 4,000 shares of the firm’s stock in a transaction on Thursday, November 9th. The shares were purchased at an average price of $24.43 per share, for a total transaction of $97,720.00. Following the completion of the transaction, the director now owns 4,417 shares in the company, valued at approximately $107,907.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Evan Fein sold 5,700 shares of Impinj stock in a transaction that occurred on Monday, January 22nd. The stock was sold at an average price of $25.01, for a total transaction of $142,557.00. Following the completion of the transaction, the chief financial officer now owns 17,500 shares in the company, valued at approximately $437,675. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,400 shares of company stock worth $363,006. 15.20% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Gilder Gagnon Howe & Co. LLC grew its position in Impinj by 4.0% during the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 2,191,393 shares of the company’s stock worth $91,184,000 after purchasing an additional 84,514 shares in the last quarter. Allianz Asset Management GmbH grew its position in Impinj by 661.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 775,896 shares of the company’s stock worth $32,285,000 after purchasing an additional 673,948 shares in the last quarter. Hood River Capital Management LLC boosted its stake in shares of Impinj by 1.1% during the 3rd quarter. Hood River Capital Management LLC now owns 739,823 shares of the company’s stock valued at $30,784,000 after buying an additional 7,858 shares during the period. Chevy Chase Trust Holdings Inc. boosted its stake in shares of Impinj by 125.4% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 643,979 shares of the company’s stock valued at $26,795,000 after buying an additional 358,279 shares during the period. Finally, Sumitomo Mitsui Asset Management Company LTD acquired a new stake in shares of Impinj during the 3rd quarter valued at $26,714,000. Hedge funds and other institutional investors own 82.42% of the company’s stock.

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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 (NASDAQ:PI)

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