Needham & Company LLC Reiterates Buy Rating for Impinj (NASDAQ:PI)

Key Points

• Needham & Company LLC has reaffirmed a buy rating on Impinj (NASDAQ:PI) with a price target of $195, indicating a potential upside of 9.08% from its current price.
• Other analysts have also increased their price targets for Impinj, with an average target of $167.57 among six analysts rating the stock as a Buy.
• Impinj recently reported earnings per share (EPS) of $0.80, exceeding analysts' expectations, although revenue declined by 4.5% compared to the previous year.

Impinj (NASDAQ:PI - Get Free Report)'s stock had its "buy" rating reissued by research analysts at Needham & Company LLC in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $195.00 price target on the stock. Needham & Company LLC's target price would indicate a potential upside of 9.08% from the company's current price.

Other analysts also recently issued reports about the stock. Susquehanna boosted their price target on shares of Impinj from $130.00 to $140.00 and gave the stock a "positive" rating in a research note on Tuesday, July 22nd. Cantor Fitzgerald boosted their price target on shares of Impinj from $133.00 to $158.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Finally, Piper Sandler boosted their price target on shares of Impinj from $140.00 to $180.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. Six investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Impinj has an average rating of "Moderate Buy" and an average price target of $167.57.

Impinj Price Performance

PI opened at $178.76 on Monday. The stock has a 50-day moving average price of $153.99 and a 200-day moving average price of $117.34. Impinj has a 12-month low of $60.85 and a 12-month high of $239.88. The company has a current ratio of 11.64, a quick ratio of 8.44 and a debt-to-equity ratio of 1.51. The stock has a market capitalization of $5.20 billion, a P/E ratio of 17,893.89 and a beta of 1.81.

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

Insider Activity

In related news, insider Sylebra Capital Llc sold 300,000 shares of the business's stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $196.24, for a total transaction of $58,872,000.00. Following the transaction, the insider owned 1,829,260 shares in the company, valued at $358,973,982.40. The trade was a 14.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 5,000 shares of the business's stock in a transaction dated Monday, September 8th. The shares were sold at an average price of $192.30, for a total transaction of $961,500.00. Following the transaction, the chief executive officer owned 341,109 shares in the company, valued at $65,595,260.70. This represents a 1.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 315,000 shares of company stock worth $61,675,650 in the last quarter. 51.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Impinj

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Public Sector Pension Investment Board grew its holdings in Impinj by 9.2% in the second quarter. Public Sector Pension Investment Board now owns 80,011 shares of the company's stock worth $8,887,000 after purchasing an additional 6,711 shares during the period. CANADA LIFE ASSURANCE Co grew its holdings in shares of Impinj by 0.9% during the second quarter. CANADA LIFE ASSURANCE Co now owns 24,619 shares of the company's stock valued at $2,733,000 after buying an additional 222 shares during the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of Impinj by 425.9% during the second quarter. Tower Research Capital LLC TRC now owns 2,130 shares of the company's stock valued at $237,000 after buying an additional 1,725 shares during the last quarter. Corient Private Wealth LLC grew its holdings in shares of Impinj by 35.3% during the second quarter. Corient Private Wealth LLC now owns 3,698 shares of the company's stock valued at $411,000 after buying an additional 965 shares during the last quarter. Finally, State of Tennessee Department of Treasury grew its holdings in shares of Impinj by 38.5% during the second quarter. State of Tennessee Department of Treasury now owns 13,959 shares of the company's stock valued at $1,550,000 after buying an additional 3,879 shares during 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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