Shares of Impinj, Inc. (NASDAQ:PI - Get Free Report) gapped up prior to trading on Thursday following a stronger than expected earnings report. The stock had previously closed at $122.21, but opened at $145.00. Impinj shares last traded at $158.40, with a volume of 569,611 shares traded.
The company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.72 by $0.08. Impinj had a net margin of 0.18% and a return on equity of 8.14%. The business had revenue of $97.89 million for the quarter, compared to analysts' expectations of $93.78 million. During the same quarter in the previous year, the company earned $0.83 EPS. The business's quarterly revenue was down 4.5% compared to the same quarter last year.
Analysts Set New Price Targets
PI has been the subject of a number of recent analyst reports. Needham & Company LLC raised their price objective on Impinj from $115.00 to $165.00 and gave the stock a "buy" rating in a research report on Thursday. Evercore ISI lifted their target price on shares of Impinj from $99.00 to $117.00 and gave the company an "outperform" rating in a report on Thursday, April 24th. Cantor Fitzgerald lifted their price target on Impinj from $133.00 to $158.00 and gave the stock an "overweight" rating in a research note on Thursday. Piper Sandler lifted their price target on shares of Impinj from $140.00 to $180.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Susquehanna raised their price target on shares of Impinj from $130.00 to $140.00 and gave the company a "positive" rating in a research report on Tuesday, July 22nd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Impinj presently has a consensus rating of "Moderate Buy" and a consensus price target of $163.29.
Check Out Our Latest Research Report on Impinj
Institutional Trading of Impinj
Several large investors have recently modified their holdings of PI. Amalgamated Bank increased its stake in shares of Impinj by 1.1% in the second quarter. Amalgamated Bank now owns 6,670 shares of the company's stock worth $741,000 after buying an additional 74 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of Impinj by 6.9% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 1,641 shares of the company's stock valued at $238,000 after acquiring an additional 106 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Impinj by 39.9% in the first quarter. Advisors Asset Management Inc. now owns 491 shares of the company's stock valued at $45,000 after acquiring an additional 140 shares during the period. Versant Capital Management Inc boosted its position in Impinj by 7.2% during the 1st quarter. Versant Capital Management Inc now owns 2,237 shares of the company's stock valued at $203,000 after purchasing an additional 150 shares during the period. Finally, Maryland State Retirement & Pension System grew its stake in Impinj by 2.5% during the 2nd quarter. Maryland State Retirement & Pension System now owns 6,899 shares of the company's stock worth $766,000 after buying an additional 167 shares during the last quarter.
Impinj Price Performance
The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 16,421.42 and a beta of 1.74. The company has a 50-day simple moving average of $115.52 and a two-hundred day simple moving average of $104.71. The company has a debt-to-equity ratio of 1.51, a current ratio of 11.64 and a quick ratio of 8.44.
About Impinj
(
Get Free Report)
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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