Royce & Associates LP Acquires 8,835 Shares of Impinj, Inc. (NASDAQ:PI)

Key Points

• Royce & Associates LP increased its stake in Impinj, Inc. by 4.2% during the first quarter, now holding 217,699 shares valued at approximately $19.75 million.
• Impinj's recent earnings report showed earnings per share (EPS) of $0.21, exceeding estimates by $0.12, although revenue declined 3.3% year-over-year.
• Analysts have a consensus rating of "Moderate Buy" for Impinj, with an average target price of $146.86, as several firms adjusted their price targets following recent performance updates.

Royce & Associates LP grew its stake in shares of Impinj, Inc. (NASDAQ:PI - Free Report) by 4.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 217,699 shares of the company's stock after buying an additional 8,835 shares during the quarter. Royce & Associates LP owned about 0.75% of Impinj worth $19,745,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Impinj by 7.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 8,169 shares of the company's stock worth $741,000 after purchasing an additional 535 shares in the last quarter. KBC Group NV raised 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 worth $111,000 after purchasing an additional 318 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Impinj by 68.7% in the 1st quarter. GAMMA Investing LLC now owns 722 shares of the company's stock worth $65,000 after purchasing an additional 294 shares in the last quarter. Norges Bank bought a new stake in shares of Impinj in the 4th quarter worth approximately $40,100,000. Finally, Bank of Montreal Can raised its holdings in shares of Impinj by 10.3% in the 4th quarter. Bank of Montreal Can now owns 2,781 shares of the company's stock worth $404,000 after purchasing an additional 260 shares in the last quarter.

Impinj Stock Up 0.8%

PI traded up $1.06 on Monday, reaching $125.31. 248,552 shares of the company traded hands, compared to its average volume of 630,573. The stock's 50 day moving average price is $113.77 and its 200-day moving average price is $104.92. Impinj, Inc. has a 52-week low of $60.85 and a 52-week high of $239.88. The company has a market cap of $3.63 billion, a price-to-earnings ratio of -3,131.84 and a beta of 1.64. The company has a debt-to-equity ratio of 1.77, a current ratio of 10.96 and a quick ratio of 7.46.

Analyst Ratings Changes

A number of research firms recently commented on PI. Cantor Fitzgerald reiterated an "overweight" rating and issued a $133.00 target price on shares of Impinj in a report on Thursday, April 24th. Needham & Company LLC cut their price target on shares of Impinj from $130.00 to $115.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Evercore ISI boosted their price target on shares of Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Piper Sandler boosted their price target on shares of Impinj from $100.00 to $140.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, Susquehanna boosted their price target on shares of Impinj from $130.00 to $140.00 and gave the company a "positive" rating in a report on Tuesday, July 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $146.86.

Impinj Company 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.