Benjamin Edwards Inc. Takes Position in Impinj, Inc. (NASDAQ:PI)

Key Points

• Benjamin Edwards Inc. has acquired a new stake in Impinj, Inc., purchasing 2,621 shares valued at approximately $238,000.
• Impinj's quarterly earnings report showed $0.80 earnings per share, exceeding estimates, although revenue was down 4.5% year-over-year.
• Several analysts have raised their price targets for Impinj, with a consensus target price now set at $163.29 and a rating of "Moderate Buy."

Benjamin Edwards Inc. purchased a new stake in Impinj, Inc. (NASDAQ:PI - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 2,621 shares of the company's stock, valued at approximately $238,000.

A number of other large investors have also made changes to their positions in the stock. Wells Fargo & Company MN grew its stake in Impinj by 41.0% in the 4th quarter. Wells Fargo & Company MN now owns 26,283 shares of the company's stock valued at $3,818,000 after acquiring an additional 7,647 shares during the last quarter. Bank of Montreal Can grew its stake in Impinj by 10.3% in the 4th quarter. Bank of Montreal Can now owns 2,781 shares of the company's stock valued at $404,000 after acquiring an additional 260 shares during the last quarter. Guggenheim Capital LLC grew its stake in Impinj by 7.6% in the 4th quarter. Guggenheim Capital LLC now owns 6,087 shares of the company's stock valued at $884,000 after acquiring an additional 429 shares during the last quarter. Marshall Wace LLP acquired a new stake in Impinj in the 4th quarter valued at about $1,682,000. Finally, Canada Pension Plan Investment Board acquired a new stake in Impinj in the 4th quarter valued at about $29,000.

Impinj Trading Down 3.3%

Shares of PI stock opened at $161.77 on Friday. The firm has a market cap of $4.71 billion, a P/E ratio of 16,193.19 and a beta of 1.74. Impinj, Inc. has a 1-year low of $60.85 and a 1-year high of $239.88. The company has a debt-to-equity ratio of 1.51, a current ratio of 11.64 and a quick ratio of 8.44. The firm's 50-day simple moving average is $124.65 and its 200-day simple moving average is $106.78.

Impinj (NASDAQ:PI - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.08. The business had revenue of $97.89 million for the quarter, compared to analyst estimates of $93.78 million. Impinj had a net margin of 0.18% and a return on equity of 8.14%. The company's revenue was down 4.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.83 EPS. As a group, equities analysts forecast that Impinj, Inc. will post -0.47 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on PI. Susquehanna raised their price target on shares of Impinj from $130.00 to $140.00 and gave the stock a "positive" rating in a research note on Tuesday, July 22nd. Cantor Fitzgerald raised their price target on shares of Impinj from $133.00 to $158.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Evercore ISI raised their price target on shares of Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a research note on Thursday, April 24th. Piper Sandler raised their price target on shares of Impinj from $140.00 to $180.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Finally, Needham & Company LLC raised their price target on shares of Impinj from $115.00 to $165.00 and gave the stock a "buy" rating in a research note on Thursday, July 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $163.29.

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.

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