Royce & Associates LP Has $19.75 Million Stock Position in 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 boosted its position in Impinj, Inc. (NASDAQ:PI - Free Report) by 4.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 217,699 shares of the company's stock after purchasing 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 institutional investors and hedge funds also recently modified their holdings of the stock. Sylebra Capital LLC grew its holdings in shares of Impinj by 8.6% during the 4th quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company's stock worth $504,360,000 after purchasing an additional 274,764 shares during the period. Vanguard Group Inc. grew its holdings in shares of Impinj by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company's stock worth $500,009,000 after purchasing an additional 104,861 shares during the period. Capital International Investors boosted its holdings in Impinj by 45.0% in the 4th quarter. Capital International Investors now owns 1,527,587 shares of the company's stock worth $221,897,000 after acquiring an additional 473,721 shares during the period. Geode Capital Management LLC boosted its holdings in Impinj by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 546,823 shares of the company's stock worth $79,654,000 after acquiring an additional 3,899 shares during the period. Finally, Janus Henderson Group PLC boosted its holdings in Impinj by 3,824.4% in the 4th quarter. Janus Henderson Group PLC now owns 435,960 shares of the company's stock worth $63,310,000 after acquiring an additional 424,851 shares during the period.

Impinj Stock Performance

Shares of PI stock traded up $3.45 on Friday, hitting $124.25. 526,488 shares of the stock traded hands, compared to its average volume of 416,338. The company has a debt-to-equity ratio of 1.77, a current ratio of 10.96 and a quick ratio of 7.46. The company has a market capitalization of $3.60 billion, a PE ratio of -3,105.47 and a beta of 1.64. Impinj, Inc. has a 1-year low of $60.85 and a 1-year high of $239.88. The company's fifty day moving average is $113.77 and its 200 day moving average is $105.55.

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

Analyst Ratings Changes

PI has been the subject of a number of analyst reports. Cantor Fitzgerald restated an "overweight" rating and issued a $133.00 price target on shares of Impinj in a report on Thursday, April 24th. Susquehanna upped their price target on Impinj from $130.00 to $140.00 and gave the stock a "positive" rating in a report on Tuesday. Evercore ISI upped their price target on Impinj from $99.00 to $117.00 and gave the stock an "outperform" rating in a report on Thursday, April 24th. Needham & Company LLC reduced their target price on Impinj from $130.00 to $115.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Piper Sandler increased their target price on Impinj from $100.00 to $140.00 and gave the company an "overweight" rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $146.86.

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.