Impinj, Inc. $PI Shares Acquired by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp increased its Impinj stake by 4,821.8% in the first quarter, purchasing 8,390 additional shares for a total holding of 8,564 shares valued at approximately $880,000.
• Analysts maintain a mixed outlook, with five Buy, three Hold and one Sell rating; the consensus rating is Hold with a $175 price target. Meanwhile, insiders sold 265,124 shares worth $36.6 million over the past 90 days.
• Impinj’s latest quarterly results exceeded expectations, reporting $0.14 in adjusted EPS versus a $0.11 estimate and $74.25 million in revenue, although revenue declined slightly year over year. Shares opened at $127.55, well below the 12-month high of $247.06.

Fifth Third Bancorp grew its stake in Impinj, Inc. (NASDAQ:PI - Free Report) by 4,821.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,564 shares of the company's stock after buying an additional 8,390 shares during the period. Fifth Third Bancorp's holdings in Impinj were worth $880,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Danske Bank A S acquired a new position in shares of Impinj in the 4th quarter valued at $35,000. Advisors Asset Management Inc. lifted its position in Impinj by 39.9% during the 1st quarter. Advisors Asset Management Inc. now owns 491 shares of the company's stock worth $45,000 after acquiring an additional 140 shares during the period. Daiwa Securities Group Inc. lifted its position in Impinj by 41.7% during the 4th 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 stake in Impinj during the 4th quarter valued at about $60,000. Finally, Larson Financial Group LLC grew its stake 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 last quarter.

Wall Street Analyst Weigh In

PI has been the topic of a number of research reports. Evercore set a $144.00 price objective on Impinj in a research note on Thursday, April 30th. Barclays upped their target price on Impinj from $169.00 to $176.00 and gave the company an "overweight" rating in a research report on Friday, May 1st. Wall Street Zen downgraded shares of Impinj from a "buy" rating to a "hold" rating in a report on Saturday, July 18th. Needham & Company LLC reissued a "buy" rating and set a $175.00 price target on shares of Impinj in a research report on Thursday, April 30th. Finally, Weiss Ratings cut shares of Impinj from a "sell (d)" rating to a "sell (e+)" rating in a research note on Monday, May 4th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Impinj has a consensus rating of "Hold" and a consensus target price of $175.00.

Insider Activity

In related news, Director Sylebra Capital Llc sold 48,504 shares of the business's stock in a transaction on Friday, May 29th. The shares were sold at an average price of $150.78, for a total value of $7,313,433.12. Following the completion of the transaction, the director directly owned 973,667 shares in the company, valued at $146,809,510.26. The trade was a 4.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders have sold 265,124 shares of company stock valued at $36,565,887. Insiders own 6.80% of the company's stock.

Impinj Price Performance

Shares of PI stock opened at $127.55 on Monday. The stock has a 50 day moving average of $137.90 and a 200 day moving average of $132.01. The company has a current ratio of 9.20, a quick ratio of 6.55 and a debt-to-equity ratio of 1.18. The stock has a market cap of $3.89 billion, a P/E ratio of -138.64 and a beta of 1.92. Impinj, Inc. has a twelve month low of $87.36 and a twelve month high of $247.06.

Impinj (NASDAQ:PI - Get Free Report) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.11 by $0.03. Impinj had a positive return on equity of 5.67% and a negative net margin of 7.66%.The business had revenue of $74.25 million for the quarter, compared to analyst estimates of $72.53 million. During the same quarter in the prior year, the firm posted $0.21 EPS. The business's quarterly revenue was down .1% compared to the same quarter last year. Impinj has set its Q2 2026 guidance at 0.770-0.820 EPS. As a group, sell-side analysts expect that Impinj, Inc. will post 0.28 EPS for the current 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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