Impinj’s (PI) Overweight Rating Reaffirmed at Piper Sandler

Piper Sandler reissued their overweight rating on shares of Impinj (NASDAQ:PI) in a research note published on Thursday,Benzinga reports. They currently have a $100.00 price objective on the stock.

PI has been the subject of several other research reports. Evercore ISI lifted their price objective on shares of Impinj from $99.00 to $117.00 and gave the company an “outperform” rating in a research note on Thursday, April 24th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $133.00 price objective on shares of Impinj in a research note on Thursday, April 24th. Finally, Needham & Company LLC reduced their price objective on shares of Impinj from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $155.38.

Impinj Trading Down 1.9%

PI stock opened at $108.90 on Thursday. Impinj has a 1 year low of $60.85 and a 1 year high of $239.88. The company has a fifty day simple moving average of $97.45 and a 200 day simple moving average of $116.33. The firm has a market cap of $3.16 billion, a PE ratio of 80.07 and a beta of 1.67.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.12. Impinj had a net margin of 11.15% and a return on equity of 7.11%. The business had revenue of $74.28 million during the quarter, compared to analyst estimates of $71.73 million. During the same quarter in the previous year, the business earned $0.21 EPS. Impinj’s quarterly revenue was down 3.3% compared to the same quarter last year. As a group, analysts forecast that Impinj will post -0.47 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Hillsdale Investment Management Inc. raised its position in shares of Impinj by 0.4% during the fourth quarter. Hillsdale Investment Management Inc. now owns 24,685 shares of the company’s stock valued at $3,586,000 after buying an additional 95 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of Impinj by 0.9% during the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company’s stock valued at $1,612,000 after buying an additional 100 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of Impinj by 6.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,641 shares of the company’s stock valued at $238,000 after buying an additional 106 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Impinj by 39.9% during the first quarter. Advisors Asset Management Inc. now owns 491 shares of the company’s stock valued at $45,000 after buying an additional 140 shares during the last quarter. Finally, Cynosure Group LLC raised its position in shares of Impinj by 7.8% during the fourth quarter. Cynosure Group LLC now owns 1,953 shares of the company’s stock valued at $284,000 after buying an additional 142 shares during the last quarter.

About Impinj

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.