Impinj, Inc. (NASDAQ:PI) Receives Average Recommendation of "Moderate Buy" from Analysts

Shares of Impinj, Inc. (NASDAQ:PI - Get Free Report) have been given a consensus rating of "Moderate Buy" by the eight analysts that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $155.38.

PI has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $133.00 price objective on shares of Impinj in a research note on Thursday, April 24th. The Goldman Sachs Group dropped their price objective on shares of Impinj from $200.00 to $132.00 and set a "neutral" rating for the company in a research note on Thursday, February 6th. Evercore ISI upped their price objective on shares of Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a research note on Thursday, April 24th. Susquehanna dropped their price objective on shares of Impinj from $260.00 to $220.00 and set a "positive" rating for the company in a research note on Wednesday, January 22nd. Finally, StockNews.com downgraded shares of Impinj from a "hold" rating to a "sell" rating in a research report on Friday, January 24th.

Impinj Trading Up 2.7%

PI stock opened at $125.05 on Friday. Impinj has a twelve month low of $60.85 and a twelve month high of $239.88. The company's 50 day moving average is $87.71 and its two-hundred day moving average is $125.59. The stock has a market cap of $3.62 billion, a P/E ratio of 91.95 and a beta of 1.64.

Impinj (NASDAQ:PI - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $74.28 million for the quarter, compared to analysts' expectations of $71.73 million. Impinj had a net margin of 11.15% and a return on equity of 7.11%. Impinj's revenue was down 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.21 EPS. On average, equities research analysts predict that Impinj will post -0.47 earnings per share for the current year.

Insider Activity at Impinj

In other Impinj news, CEO Chris Ph.D. Diorio sold 8,334 shares of Impinj stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.78, for a total value of $823,232.52. Following the transaction, the chief executive officer now directly owns 354,076 shares of the company's stock, valued at $34,975,627.28. The trade was a 2.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Hussein Mecklai sold 3,739 shares of Impinj stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $98.81, for a total value of $369,450.59. Following the sale, the chief operating officer now directly owns 70,347 shares in the company, valued at $6,950,987.07. The trade was a 5.05% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,857 shares of company stock valued at $1,665,290. Corporate insiders own 12.40% of the company's stock.

Hedge Funds Weigh In On Impinj

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Hillsdale Investment Management Inc. increased its holdings in shares of Impinj by 0.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 24,685 shares of the company's stock worth $3,586,000 after acquiring an additional 95 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of Impinj by 0.9% during the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company's stock worth $1,612,000 after buying an additional 100 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in shares of Impinj by 6.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,641 shares of the company's stock worth $238,000 after buying an additional 106 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in shares of Impinj by 39.9% during the first quarter. Advisors Asset Management Inc. now owns 491 shares of the company's stock worth $45,000 after buying an additional 140 shares in the last quarter. Finally, Cynosure Group LLC grew its holdings in shares of Impinj by 7.8% during the fourth quarter. Cynosure Group LLC now owns 1,953 shares of the company's stock worth $284,000 after buying an additional 142 shares in the last quarter.

About Impinj

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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