Impinj (NASDAQ:PI) Stock Rating Upgraded by StockNews.com

Impinj (NASDAQ:PI) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Friday.

Several other equities analysts have also recently commented on PI. Roth Mkm boosted their price objective on shares of Impinj from $125.00 to $145.00 and gave the company a “buy” rating in a research note on Thursday. Piper Sandler reissued an “overweight” rating and issued a $150.00 price target (up previously from $130.00) on shares of Impinj in a research note on Thursday. Needham & Company LLC boosted their price target on shares of Impinj from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday. Canaccord Genuity Group boosted their price target on shares of Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. Finally, Evercore ISI began coverage on shares of Impinj in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $160.00 price target for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, Impinj has an average rating of “Moderate Buy” and a consensus target price of $132.89.

Impinj Stock Performance

NASDAQ PI opened at $150.91 on Friday. The company’s 50 day moving average is $119.23 and its 200-day moving average is $95.29. Impinj has a 12-month low of $48.39 and a 12-month high of $156.41. The company has a quick ratio of 5.59, a current ratio of 9.42 and a debt-to-equity ratio of 3.29. The firm has a market cap of $4.18 billion, a P/E ratio of -431.17 and a beta of 2.05.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.14. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. The company had revenue of $76.83 million for the quarter, compared to analyst estimates of $73.57 million. Sell-side analysts predict that Impinj will post -0.62 earnings per share for the current year.

Insiders Place Their Bets

In other Impinj news, CEO Chris Ph.D. Diorio sold 16,060 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $101.16, for a total value of $1,624,629.60. Following the completion of the transaction, the chief executive officer now directly owns 278,863 shares in the company, valued at approximately $28,209,781.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Impinj news, CEO Chris Ph.D. Diorio sold 16,060 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $101.16, for a total value of $1,624,629.60. Following the completion of the transaction, the chief executive officer now directly owns 278,863 shares in the company, valued at approximately $28,209,781.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cathal G. Phelan sold 2,556 shares of the company’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $98.88, for a total transaction of $252,737.28. Following the completion of the transaction, the insider now owns 24,990 shares of the company’s stock, valued at $2,471,011.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 120,185 shares of company stock worth $12,767,674. 17.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Impinj

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its position in Impinj by 4.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 174,037 shares of the company’s stock valued at $9,577,000 after purchasing an additional 8,038 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of Impinj during the 3rd quarter valued at about $320,000. FMR LLC boosted its holdings in shares of Impinj by 0.8% during the 3rd quarter. FMR LLC now owns 4,028,894 shares of the company’s stock valued at $221,710,000 after acquiring an additional 31,289 shares during the last quarter. Telemus Capital LLC purchased a new stake in shares of Impinj during the 4th quarter valued at about $298,000. Finally, AWM Investment Company Inc. boosted its holdings in shares of Impinj by 9.5% during the 3rd quarter. AWM Investment Company Inc. now owns 365,428 shares of the company’s stock valued at $20,110,000 after acquiring an additional 31,556 shares during 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.