Shares of Impinj, Inc. (NASDAQ:PI) have earned a consensus rating of "Buy" from the eight research firms that are currently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $71.29.
A number of equities research analysts have recently weighed in on PI shares. Needham & Company LLC lifted their price objective on Impinj from $61.00 to $77.00 and gave the company a "buy" rating in a research note on Thursday, February 11th. Roth Capital boosted their target price on Impinj from $31.00 to $74.00 and gave the stock a "buy" rating in a research note on Thursday, February 11th. Morgan Stanley boosted their target price on Impinj from $53.00 to $58.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 11th. Zacks Investment Research cut Impinj from a "buy" rating to a "hold" rating in a research note on Wednesday, January 20th. Finally, Piper Sandler boosted their target price on Impinj from $60.00 to $80.00 and gave the stock an "overweight" rating in a research note on Thursday, February 11th.
In other Impinj news, CEO Chris Ph.D. Diorio sold 1,543 shares of the company's stock in a transaction that occurred on Monday, April 5th. The stock was sold at an average price of $58.73, for a total transaction of $90,620.39. Following the completion of the sale, the chief executive officer now directly owns 288,581 shares of the company's stock, valued at approximately $16,948,362.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Oppen Peter H. Van sold 25,000 shares of the company's stock in a transaction that occurred on Wednesday, February 17th. The shares were sold at an average price of $70.60, for a total value of $1,765,000.00. Following the sale, the director now directly owns 43,617 shares of the company's stock, valued at $3,079,360.20. The disclosure for this sale can be found here. Insiders sold a total of 46,984 shares of company stock valued at $2,922,905 over the last three months. Company insiders own 25.70% of the company's stock.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Garde Capital Inc. acquired a new position in Impinj during the 4th quarter worth approximately $112,000. Citigroup Inc. increased its position in Impinj by 243.5% during the 4th quarter. Citigroup Inc. now owns 3,476 shares of the company's stock worth $146,000 after purchasing an additional 2,464 shares during the period. Fortis Group Advisors LLC acquired a new position in Impinj during the 3rd quarter worth approximately $158,000. Arizona State Retirement System acquired a new position in Impinj during the 4th quarter worth approximately $208,000. Finally, XR Securities LLC acquired a new position in Impinj during the 4th quarter worth approximately $239,000. 85.57% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:PI opened at $54.19 on Thursday. Impinj has a 52 week low of $15.07 and a 52 week high of $79.05. The company has a quick ratio of 6.44, a current ratio of 8.38 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $1.27 billion, a P/E ratio of -27.93 and a beta of 2.56. The stock's fifty day moving average is $60.62 and its two-hundred day moving average is $45.76.
Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, February 10th. The company reported ($0.15) EPS for the quarter, beating the Zacks' consensus estimate of ($0.22) by $0.07. Impinj had a negative return on equity of 26.61% and a negative net margin of 30.63%. The company had revenue of $36.45 million for the quarter, compared to the consensus estimate of $36.32 million. During the same quarter in the previous year, the business earned $0.03 earnings per share. The company's revenue for the quarter was down 10.7% on a year-over-year basis. Sell-side analysts anticipate that Impinj will post -1.67 earnings per share for the current fiscal year.
Impinj Company Profile
Impinj, Inc operates a cloud connectivity platform. Its platform, which comprises multiple product families, wirelessly connects individual 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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