Piper Sandler Reaffirms Overweight Rating for Impinj (NASDAQ:PI)

Piper Sandler reiterated their overweight rating on shares of Impinj (NASDAQ:PI - Free Report) in a research report released on Thursday morning,Benzinga reports. The firm currently has a $100.00 target price on the stock.

Other equities research analysts have also recently issued reports about the company. Needham & Company LLC lowered their price objective on Impinj from $130.00 to $115.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $133.00 target price on shares of Impinj in a research note on Thursday, April 24th. Finally, Evercore ISI upped their price target 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $155.38.

Impinj Price Performance

Shares of NASDAQ PI traded down $4.51 during mid-day trading on Thursday, reaching $104.39. 293,232 shares of the company's stock were exchanged, compared to its average volume of 590,539. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 76.76 and a beta of 1.67. Impinj has a 52 week low of $60.85 and a 52 week high of $239.88. The firm has a 50-day moving average price of $99.08 and a two-hundred day moving average price of $114.60.

Impinj (NASDAQ:PI - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.12. Impinj had a net margin of 11.15% and a return on equity of 7.11%. The company had revenue of $74.28 million during the quarter, compared to analyst estimates of $71.73 million. During the same quarter last year, the business posted $0.21 EPS. Impinj's quarterly revenue was down 3.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Impinj will post -0.47 EPS for the current fiscal year.

Institutional Trading of Impinj

Institutional investors and hedge funds have recently bought and sold shares of the company. Hillsdale Investment Management Inc. boosted its position in shares of Impinj by 0.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 24,685 shares of the company's stock valued at $3,586,000 after acquiring an additional 95 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in Impinj by 0.9% in the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company's stock valued at $1,612,000 after purchasing an additional 100 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in Impinj by 6.9% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,641 shares of the company's stock valued at $238,000 after purchasing an additional 106 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Impinj by 39.9% during the first quarter. Advisors Asset Management Inc. now owns 491 shares of the company's stock valued at $45,000 after purchasing an additional 140 shares during the last quarter. Finally, Cynosure Group LLC grew its stake in Impinj by 7.8% in the 4th 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.