Bank of New York Mellon Corp Takes Position in Impinj, Inc. $PI

Key Points

• Bank of New York Mellon acquired 161,916 Impinj shares worth approximately $23.2 million, giving it a 0.53% stake. Other institutional investors also recently initiated or increased positions.
• Analysts maintain a generally positive outlook, with one Strong Buy, seven Buy, two Hold and one Sell rating. The consensus rating is Moderate Buy, with an average price target of $183.30.
• Impinj reported quarterly EPS of $0.86, beating estimates by $0.06, while revenue rose 10.7% year over year to $108.37 million. However, insiders sold approximately $24.5 million of stock over the past 90 days.

Bank of New York Mellon Corp purchased a new position in Impinj, Inc. (NASDAQ:PI - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 161,916 shares of the company's stock, valued at approximately $23,191,000. Bank of New York Mellon Corp owned about 0.53% of Impinj at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PI. Danske Bank A S bought a new position in shares of Impinj during the 4th quarter worth $35,000. Western Wealth Management LLC purchased a new stake in Impinj in the first quarter worth about $28,000. Daiwa Securities Group Inc. lifted its stake in Impinj by 41.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 340 shares of the company's stock worth $59,000 after acquiring an additional 100 shares during the period. Caitong International Asset Management Co. Ltd purchased a new position in Impinj during the 4th quarter valued at about $60,000. Finally, Larson Financial Group LLC increased its position in Impinj by 7,100.0% during the 4th quarter. Larson Financial Group LLC now owns 360 shares of the company's stock valued at $63,000 after purchasing an additional 355 shares during the period.

Insider Transactions at Impinj

In other news, Director Sylebra Capital Llc sold 12,105 shares of Impinj stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $127.36, for a total transaction of $1,541,692.80. Following the completion of the sale, the director directly owned 782,943 shares in the company, valued at approximately $99,715,620.48. The trade was a 1.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Cary Baker sold 1,429 shares of the business's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $185.00, for a total transaction 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 trade represents a 1.59% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 184,990 shares of company stock worth $24,528,174 in the last 90 days. Insiders own 6.80% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Cantor Fitzgerald reiterated an "overweight" rating and set a $200.00 price objective on shares of Impinj in a research note on Thursday, July 30th. Needham & Company LLC reduced their price objective on shares of Impinj from $175.00 to $168.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. BMO Capital Markets started coverage on Impinj in a report on Thursday, August 20th. They set an "outperform" rating and a $220.00 target price for the company. Jefferies Financial Group boosted their price target on Impinj from $175.00 to $190.00 and gave the stock a "buy" rating in a research report on Thursday, July 30th. Finally, Weiss Ratings upgraded Impinj from a "sell (e+)" rating to a "sell (d)" rating in a research note on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $183.30.

Impinj Price Performance

Shares of PI opened at $170.06 on Monday. The company has a market cap of $5.20 billion, a price-to-earnings ratio of -184.85 and a beta of 1.94. Impinj, Inc. has a twelve month low of $87.36 and a twelve month high of $247.06. 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 50 day moving average of $150.77 and a two-hundred day moving average of $131.62.

Impinj (NASDAQ:PI - Get Free Report) last issued its quarterly earnings results on Wednesday, July 29th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $108.37 million for the quarter, compared to the consensus estimate of $104.60 million. During the same period in the prior year, the firm posted $0.80 earnings per share. The business's quarterly revenue was up 10.7% on a year-over-year basis. Impinj has set its Q3 2026 guidance at 0.590-0.630 EPS. As a group, analysts predict that Impinj, Inc. will post 0.37 earnings per share for the current fiscal year.

Impinj 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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