Taylor Frigon Capital Management LLC Purchases 6,518 Shares of Impinj, Inc. (NASDAQ:PI)

Taylor Frigon Capital Management LLC raised its position in Impinj, Inc. (NASDAQ:PI - Free Report) by 34.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,283 shares of the company's stock after buying an additional 6,518 shares during the quarter. Impinj comprises about 1.4% of Taylor Frigon Capital Management LLC's holdings, making the stock its 16th largest position. Taylor Frigon Capital Management LLC owned about 0.09% of Impinj worth $2,293,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. increased 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 period. Mercer Global Advisors Inc. ADV grew its stake in 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 acquiring an additional 106 shares in the last quarter. Cynosure Group LLC increased its holdings in Impinj by 7.8% during the 4th quarter. Cynosure Group LLC now owns 1,953 shares of the company's stock worth $284,000 after acquiring an additional 142 shares during the period. Versant Capital Management Inc lifted its stake in Impinj by 7.2% in the 1st quarter. Versant Capital Management Inc now owns 2,237 shares of the company's stock worth $203,000 after purchasing an additional 150 shares in the last quarter. Finally, Xponance Inc. boosted its holdings in Impinj by 10.5% in the 4th quarter. Xponance Inc. now owns 1,660 shares of the company's stock valued at $241,000 after purchasing an additional 158 shares during the period.

Impinj Stock Down 0.7%

NASDAQ:PI traded down $0.76 on Monday, reaching $111.07. 353,128 shares of the stock traded hands, compared to its average volume of 593,456. The company's fifty day simple moving average is $106.61 and its 200 day simple moving average is $109.75. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of -2,776.06 and a beta of 1.67. Impinj, Inc. has a 12 month low of $60.85 and a 12 month high of $239.88. The company has a current ratio of 10.96, a quick ratio of 7.46 and a debt-to-equity ratio of 1.77.

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

Wall Street Analyst Weigh In

PI has been the topic of a number of research analyst reports. Cantor Fitzgerald restated an "overweight" rating and issued a $133.00 target price on shares of Impinj in a research note on Thursday, April 24th. Piper Sandler reissued an "overweight" rating and issued a $100.00 target price on shares of Impinj in a research note on Thursday, June 12th. Evercore ISI upped their price objective on Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Finally, Needham & Company LLC dropped their target price on Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a research report 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $155.38.

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.