Impinj, Inc. operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. 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. Its platform also consists of systems products that comprise reader ICs, readers, and gateways to wirelessly provide power to and communicate bidirectionally with endpoint ICs on host items, as well as to read, write, authenticate, and engage the endpoint ICs on those items; and software and algorithms that enables its partners to deliver use cases, such as retail self-checkout and loss prevention, and warehouse pallet and carton tracking to end-users. The company primarily serves retail, supply chain and logistics, aviation, automotive, healthcare, industrial and manufacturing, sports, food, datacenter, travel, banking, and linen and uniform tracking sectors through distributors, system integrators, value-added resellers, and software solution partners. Impinj, Inc. was incorporated in 2000 and is headquartered in Seattle, Washington.
Analyst Ratings Changes
Several research analysts have recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Impinj from $78.00 to $89.00 and gave the stock a "buy" rating in a research note on Thursday, July 28th. Needham & Company LLC increased their target price on Impinj from $96.00 to $102.00 and gave the company a "buy" rating in a research note on Thursday, July 28th. Piper Sandler boosted their price target on Impinj from $80.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday, July 28th. Roth Capital dropped their price objective on Impinj from $95.00 to $76.00 in a research report on Thursday, April 28th. Finally, Lake Street Capital boosted their target price on Impinj from $87.00 to $94.00 in a research report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $93.80.
Impinj Trading Up 0.8 %
Impinj stock traded up $0.74 during mid-day trading on Thursday, hitting $97.11. The stock had a trading volume of 6,323 shares, compared to its average volume of 430,255. Impinj has a one year low of $39.74 and a one year high of $99.00. The firm has a market capitalization of $2.49 billion, a P/E ratio of -44.27 and a beta of 2.24. The firm's 50 day moving average is $69.40 and its 200 day moving average is $62.04.
Impinj (NASDAQ:PI - Get Rating) last released its quarterly earnings data on Wednesday, July 27th. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of ($0.02) by $0.13. Impinj had a negative return on equity of 236.49% and a negative net margin of 26.07%. The firm had revenue of $59.80 million during the quarter, compared to analyst estimates of $55.12 million. During the same quarter in the prior year, the company posted ($0.33) earnings per share. The business's quarterly revenue was up 26.4% compared to the same quarter last year. As a group, equities research analysts forecast that Impinj will post -0.99 earnings per share for the current year.
Insiders Place Their Bets
In related news, COO Hussein Mecklai sold 9,000 shares of the firm's stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $89.00, for a total transaction of $801,000.00. Following the completion of the transaction, the chief operating officer now directly owns 31,004 shares of the company's stock, valued at $2,759,356. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, COO Hussein Mecklai sold 9,000 shares of the stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $89.00, for a total transaction of $801,000.00. Following the completion of the transaction, the chief operating officer now directly owns 31,004 shares of the company's stock, valued at $2,759,356. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Chris Ph.D. Diorio sold 646 shares of Impinj stock in a transaction that occurred on Thursday, June 16th. The stock was sold at an average price of $47.93, for a total value of $30,962.78. Following the completion of the sale, the chief executive officer now directly owns 314,714 shares in the company, valued at approximately $15,084,242.02. The disclosure for this sale can be found here. Insiders sold 74,474 shares of company stock worth $5,959,613 in the last three months. 20.20% of the stock is owned by company insiders.
