Wall Street brokerages forecast that IMPINJ Inc (NASDAQ:PI) will announce $38.60 million in sales for the current quarter, Zacks reports. Two analysts have issued estimates for IMPINJ’s earnings, with the highest sales estimate coming in at $39.00 million and the lowest estimate coming in at $38.20 million. IMPINJ reported sales of $34.41 million during the same quarter last year, which would suggest a positive year over year growth rate of 12.2%. The business is scheduled to announce its next quarterly earnings results on Monday, November 4th.
On average, analysts expect that IMPINJ will report full year sales of $147.91 million for the current year, with estimates ranging from $147.10 million to $149.20 million. For the next year, analysts expect that the firm will post sales of $173.07 million, with estimates ranging from $168.30 million to $175.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow IMPINJ.
IMPINJ (NASDAQ:PI) last announced its earnings results on Monday, July 29th. The company reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.12. The firm had revenue of $38.19 million for the quarter, compared to analyst estimates of $34.95 million. IMPINJ had a negative return on equity of 7.65% and a negative net margin of 17.31%. The business’s revenue was up 33.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.19) EPS.
PI has been the topic of a number of research reports. TheStreet upgraded IMPINJ from a “d” rating to a “c-” rating in a report on Tuesday, July 30th. BidaskClub downgraded IMPINJ from a “buy” rating to a “hold” rating in a research note on Tuesday, September 10th. Dougherty & Co raised IMPINJ from a “neutral” rating to a “buy” rating in a research note on Monday, July 1st. Piper Jaffray Companies raised their target price on IMPINJ from $32.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Finally, ValuEngine downgraded IMPINJ from a “buy” rating to a “hold” rating in a research note on Tuesday, September 10th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. IMPINJ presently has a consensus rating of “Buy” and a consensus price target of $40.00.
In related news, CEO Chris Ph.D. Diorio sold 4,200 shares of the firm’s stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $35.00, for a total transaction of $147,000.00. Following the completion of the sale, the chief executive officer now directly owns 281,278 shares of the company’s stock, valued at approximately $9,844,730. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tom A. Alberg sold 35,714 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $37.54, for a total value of $1,340,703.56. Following the sale, the director now directly owns 78,782 shares of the company’s stock, valued at $2,957,476.28. The disclosure for this sale can be found here. Insiders sold a total of 146,012 shares of company stock valued at $5,228,424 over the last ninety days. Corporate insiders own 28.00% of the company’s stock.
Several large investors have recently modified their holdings of PI. Bank of America Corp DE increased its position in shares of IMPINJ by 5.3% during the 4th quarter. Bank of America Corp DE now owns 14,086 shares of the company’s stock worth $205,000 after purchasing an additional 711 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in IMPINJ by 48,471.4% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,400 shares of the company’s stock valued at $57,000 after acquiring an additional 3,393 shares during the period. Rehmann Capital Advisory Group purchased a new position in IMPINJ during the 1st quarter valued at about $190,000. Scout Investments Inc. boosted its holdings in IMPINJ by 65.3% during the 2nd quarter. Scout Investments Inc. now owns 146,365 shares of the company’s stock valued at $4,189,000 after acquiring an additional 57,817 shares during the period. Finally, SOL Capital Management CO purchased a new position in IMPINJ during the 2nd quarter valued at about $233,000. 70.42% of the stock is owned by hedge funds and other institutional investors.
PI stock traded up $0.42 during midday trading on Wednesday, reaching $30.83. The stock had a trading volume of 291,881 shares, compared to its average volume of 313,315. The company’s fifty day simple moving average is $34.94 and its 200 day simple moving average is $28.51. The company has a current ratio of 5.95, a quick ratio of 4.08 and a debt-to-equity ratio of 0.44. The company has a market cap of $683.18 million, a price-to-earnings ratio of -45.34 and a beta of 2.71. IMPINJ has a 52-week low of $13.25 and a 52-week high of $40.24.
Impinj, Inc operates a platform that enables wireless connectivity for everyday items by delivering each item's unique identity, location, and authenticity to business and consumer applications. Its integrated platform connects everyday items to applications, delivering real-time information to businesses about items they create, manage, transport, and sell.
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