Impinj (NASDAQ:PI) Downgraded by Zacks Research to Hold

Key Points

• Zacks Research downgraded Impinj from “strong buy” to “hold,” although the broader analyst consensus remains “Moderate Buy,” with an average price target of $183.30.
• Impinj reported quarterly results above expectations, posting $0.86 in EPS versus an $0.80 estimate and revenue of $108.37 million, up 10.7% year over year.
• The stock opened at $168.19, while insiders have sold 139,953 shares worth approximately $18.1 million over the past 90 days; institutional investors, including BlackRock, have also increased their positions.

Impinj (NASDAQ:PI - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Monday, Zacks reports.

Other research analysts have also issued research reports about the stock. BMO Capital Markets initiated coverage on shares of Impinj in a research note on Thursday, August 20th. They set an "outperform" rating and a $220.00 price objective for the company. Jefferies Financial Group raised their price objective on Impinj from $175.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Needham & Company LLC dropped their target price on Impinj from $175.00 to $168.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Weiss Ratings raised Impinj from a "sell (e+)" rating to a "sell (d)" rating in a report on Thursday, July 30th. Finally, Wall Street Zen upgraded shares of Impinj from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Seven analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $183.30.

Impinj Stock Performance

Shares of NASDAQ:PI opened at $168.19 on Monday. The firm has a 50 day moving average of $152.48 and a 200 day moving average of $132.50. The company has a quick ratio of 2.29, a current ratio of 3.28 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of -182.82 and a beta of 1.94. Impinj has a 52 week low of $87.36 and a 52 week high of $247.06.

Impinj (NASDAQ:PI - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.80 by $0.06. Impinj had a positive return on equity of 5.23% and a negative net margin of 7.26%.The firm had revenue of $108.37 million during the quarter, compared to analyst estimates of $104.60 million. During the same period in the previous year, the company posted $0.80 EPS. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. Impinj has set its Q3 2026 guidance at 0.590-0.630 EPS. On average, sell-side analysts predict that Impinj will post 0.37 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Impinj news, Director Sylebra Capital Llc sold 47,479 shares of the company's stock in a transaction on Friday, June 5th. The shares were sold at an average price of $124.06, for a total value of $5,890,244.74. Following the sale, the director directly owned 840,576 shares of the company's stock, valued at approximately $104,281,858.56. This represents a 5.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Cary Baker sold 1,429 shares of the stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $185.00, for a total value of $264,365.00. Following the sale, the chief financial officer directly owned 88,226 shares in the company, valued at $16,321,810. This represents a 1.59% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 139,953 shares of company stock valued at $18,138,781 over the last 90 days. 6.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PI. Intech Investment Management LLC grew its stake in shares of Impinj by 63.5% during the 4th quarter. Intech Investment Management LLC now owns 18,532 shares of the company's stock worth $3,225,000 after purchasing an additional 7,194 shares during the period. Janus Henderson Group PLC lifted its stake in shares of Impinj by 40.1% in the 1st quarter. Janus Henderson Group PLC now owns 28,014 shares of the company's stock valued at $2,877,000 after purchasing an additional 8,023 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Impinj by 2,441.0% during the first quarter. The Manufacturers Life Insurance Company now owns 425,945 shares of the company's stock worth $43,745,000 after buying an additional 409,182 shares in the last quarter. BlackRock Inc. acquired a new stake in Impinj during the second quarter valued at $637,286,000. Finally, Polar Asset Management Partners Inc. grew its position in Impinj by 25.6% during the first quarter. Polar Asset Management Partners Inc. now owns 136,656 shares of the company's stock valued at $14,035,000 after buying an additional 27,845 shares during the period.

Impinj Company Profile

Impinj, Inc, headquartered in Seattle, Washington, develops Radio Frequency Identification (RFID) solutions designed to connect everyday items to the internet. Founded in 2000, the company pioneered RAIN RFID technology with a focus on transforming supply chain and inventory processes across retail, healthcare, airport baggage handling and manufacturing. Impinj's platform comprises RAIN RFID tag chips, fixed and handheld RFID readers, gateways, antennas and connectivity modules that enable real-time visibility of tagged items.

Impinj's product portfolio is built around its core RAIN RFID ecosystem, offering tag chips for high-volume production (Monza series), reader chips for integration into third-party devices and complete reader and gateway systems (Speedway series and xArray).

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