Impinj (NASDAQ:PI) Reaches New 1-Year High After Analyst Upgrade

Key Points

• Impinj reached a new 52-week high of $219.69 after Susquehanna upgraded its price target from $180.00 to $235.00, maintaining a positive rating on the stock.
• Several research firms have also increased their price targets for Impinj, with Zacks Research upgrading it to a "strong-buy" rating.
• Insiders sold over 324,000 shares of Impinj stock recently, with CEO Chris Diorio selling shares worth approximately $768,532, while overall insider ownership decreased to 12.40%.

Impinj, Inc. (NASDAQ:PI - Get Free Report) reached a new 52-week high on Thursday after Susquehanna raised their price target on the stock from $180.00 to $235.00. Susquehanna currently has a positive rating on the stock. Impinj traded as high as $217.82 and last traded at $219.69, with a volume of 70259 shares. The stock had previously closed at $202.08.

Several other research firms have also recently weighed in on PI. Piper Sandler lifted their price objective on shares of Impinj from $140.00 to $180.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Zacks Research upgraded shares of Impinj from a "hold" rating to a "strong-buy" rating in a report on Tuesday, October 7th. Weiss Ratings restated a "sell (d)" rating on shares of Impinj in a report on Wednesday, October 8th. Barclays initiated coverage on shares of Impinj in a report on Tuesday, October 7th. They set an "overweight" rating and a $200.00 price target on the stock. Finally, Cantor Fitzgerald boosted their price target on shares of Impinj from $158.00 to $217.00 and gave the company an "overweight" rating in a report on Monday, October 6th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $197.13.

Insiders Place Their Bets

In related news, CEO Chris Ph.D. Diorio sold 4,096 shares of the company's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $187.63, for a total value of $768,532.48. Following the completion of the sale, the chief executive officer directly owned 297,013 shares in the company, valued at approximately $55,728,549.19. This represents a 1.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Sylebra Capital Llc sold 300,000 shares of the company's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $196.24, for a total transaction of $58,872,000.00. Following the completion of the sale, the insider owned 1,829,260 shares of the company's stock, valued at $358,973,982.40. This represents a 14.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 324,096 shares of company stock valued at $63,353,832 over the last quarter. 12.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PI. DLD Asset Management LP acquired a new position in Impinj during the 2nd quarter worth $1,332,840,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Impinj by 304.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 972,260 shares of the company's stock worth $88,184,000 after acquiring an additional 731,817 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Impinj by 52.7% during the 1st quarter. Ameriprise Financial Inc. now owns 622,183 shares of the company's stock worth $56,431,000 after acquiring an additional 214,792 shares during the last quarter. Granite Investment Partners LLC acquired a new position in Impinj during the 2nd quarter worth $12,160,000. Finally, Duquesne Family Office LLC acquired a new position in Impinj during the 1st quarter worth $9,839,000.

Impinj Stock Performance

The stock has a market cap of $6.36 billion, a price-to-earnings ratio of 21,883.88 and a beta of 1.83. The company has a debt-to-equity ratio of 1.51, a quick ratio of 8.44 and a current ratio of 11.64. The stock's 50-day simple moving average is $187.35 and its two-hundred day simple moving average is $136.55.

Impinj (NASDAQ:PI - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.80 earnings per share for the quarter, topping analysts' consensus estimates of $0.72 by $0.08. The firm had revenue of $97.89 million during the quarter, compared to analyst estimates of $93.78 million. Impinj had a net margin of 0.18% and a return on equity of 8.14%. The business's revenue was down 4.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.83 EPS. Impinj has set its Q3 2025 guidance at 0.470-0.510 EPS. Analysts forecast that Impinj, Inc. will post -0.47 earnings per share for the current year.

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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