Bank of New York Mellon Corp Has $15.52 Million Stock Position in Impinj, Inc. (NASDAQ:PI)

Bank of New York Mellon Corp grew its stake in Impinj, Inc. (NASDAQ:PI - Free Report) by 3.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 171,139 shares of the company's stock after purchasing an additional 5,475 shares during the period. Bank of New York Mellon Corp owned approximately 0.59% of Impinj worth $15,522,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of PI. Teacher Retirement System of Texas purchased a new position in Impinj during the 1st quarter worth $336,000. Taylor Frigon Capital Management LLC increased its holdings in shares of Impinj by 34.7% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 25,283 shares of the company's stock valued at $2,293,000 after acquiring an additional 6,518 shares during the period. KBC Group NV increased its holdings in shares of Impinj by 35.0% in the 1st quarter. KBC Group NV now owns 1,227 shares of the company's stock valued at $111,000 after acquiring an additional 318 shares during the period. K.J. Harrison & Partners Inc increased its holdings in shares of Impinj by 337.8% in the 1st quarter. K.J. Harrison & Partners Inc now owns 16,200 shares of the company's stock valued at $1,469,000 after acquiring an additional 12,500 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Impinj by 38.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 244,099 shares of the company's stock valued at $21,578,000 after acquiring an additional 67,908 shares during the period.

Analysts Set New Price Targets

A number of brokerages have commented on PI. Evercore ISI lifted their price target on Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a research report on Thursday, April 24th. Needham & Company LLC reduced their price target on Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Piper Sandler reaffirmed an "overweight" rating and issued a $100.00 price target on shares of Impinj in a report on Thursday, June 12th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $133.00 price target on shares of Impinj in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $155.38.

Impinj Trading Down 0.1%

Impinj stock traded down $0.14 during trading on Friday, hitting $115.98. The company's stock had a trading volume of 250,878 shares, compared to its average volume of 600,188. The stock's fifty day moving average is $113.95 and its 200 day moving average is $106.05. The stock has a market capitalization of $3.36 billion, a price-to-earnings ratio of -2,898.78 and a beta of 1.64. The company has a debt-to-equity ratio of 1.77, a quick ratio of 7.46 and a current ratio of 10.96. Impinj, Inc. has a 1-year low of $60.85 and a 1-year high of $239.88.

Impinj (NASDAQ:PI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.12. The business had revenue of $74.28 million during the quarter, compared to analyst estimates of $71.73 million. Impinj had a negative net margin of 0.26% and a positive return on equity of 6.45%. The business's revenue was down 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.21 earnings per share. As a group, equities research analysts predict that Impinj, Inc. will post -0.47 EPS for the current year.

Impinj 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.