Equities Analysts Set Expectations for Impinj, Inc.’s FY2020 Earnings (NASDAQ:PI)

Impinj, Inc. (NASDAQ:PI) – Piper Sandler increased their FY2020 earnings per share (EPS) estimates for Impinj in a research report issued to clients and investors on Monday, January 11th. Piper Sandler analyst H. Kumar now expects that the company will earn ($1.60) per share for the year, up from their previous forecast of ($1.72). Piper Sandler has a “Overweight” rating and a $48.00 price target on the stock. Piper Sandler also issued estimates for Impinj’s Q4 2020 earnings at ($0.52) EPS, Q1 2021 earnings at ($0.51) EPS, Q2 2021 earnings at ($0.39) EPS, Q3 2021 earnings at ($0.26) EPS, Q4 2021 earnings at ($0.21) EPS and FY2021 earnings at ($1.37) EPS.

A number of other brokerages also recently weighed in on PI. The Goldman Sachs Group raised their price objective on Impinj from $46.00 to $53.00 and gave the company a “buy” rating in a research report on Monday, December 14th. Morgan Stanley raised their price objective on Impinj from $26.00 to $38.00 and gave the company an “equal weight” rating in a research report on Monday, December 14th. ValuEngine downgraded Impinj from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, November 11th. BidaskClub downgraded Impinj from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, December 30th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $35.00 price objective (up previously from $32.00) on shares of Impinj in a research report on Thursday, October 29th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $38.29.

Shares of PI stock opened at $54.35 on Thursday. Impinj has a 1-year low of $11.47 and a 1-year high of $58.50. The stock’s 50-day moving average is $42.28 and its 200 day moving average is $31.52. The company has a market cap of $1.25 billion, a P/E ratio of -36.23 and a beta of 2.24. The company has a debt-to-equity ratio of 0.45, a current ratio of 7.17 and a quick ratio of 5.65.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, October 28th. The company reported ($0.29) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.03. The firm had revenue of $28.20 million for the quarter, compared to analyst estimates of $24.90 million. Impinj had a negative return on equity of 14.90% and a negative net margin of 21.57%.

In other Impinj news, CEO Chris Ph.D. Diorio sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 30th. The stock was sold at an average price of $40.00, for a total value of $200,000.00. Following the completion of the sale, the chief executive officer now owns 274,621 shares of the company’s stock, valued at $10,984,840. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO Jeffrey Dossett sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, December 8th. The stock was sold at an average price of $42.36, for a total value of $105,900.00. Following the completion of the sale, the executive now directly owns 24,763 shares of the company’s stock, valued at approximately $1,048,960.68. The disclosure for this sale can be found here. In the last three months, insiders sold 29,734 shares of company stock valued at $1,343,672. Corporate insiders own 25.70% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Morgan Stanley boosted its position in Impinj by 84.1% during the first quarter. Morgan Stanley now owns 156,279 shares of the company’s stock worth $2,611,000 after purchasing an additional 71,406 shares during the period. California Public Employees Retirement System raised its holdings in Impinj by 2.2% during the second quarter. California Public Employees Retirement System now owns 37,181 shares of the company’s stock worth $1,021,000 after buying an additional 800 shares during the last quarter. Vanguard Group Inc. raised its holdings in Impinj by 1.6% during the second quarter. Vanguard Group Inc. now owns 878,167 shares of the company’s stock worth $24,123,000 after buying an additional 13,519 shares during the last quarter. Tudor Investment Corp Et Al raised its holdings in Impinj by 37.3% during the second quarter. Tudor Investment Corp Et Al now owns 16,755 shares of the company’s stock worth $460,000 after buying an additional 4,552 shares during the last quarter. Finally, Bank of America Corp DE raised its holdings in Impinj by 8.9% during the second quarter. Bank of America Corp DE now owns 10,681 shares of the company’s stock worth $294,000 after buying an additional 877 shares during the last quarter. Hedge funds and other institutional investors own 82.66% of the company’s stock.

About Impinj

Impinj, Inc operates a platform that enables wireless connectivity to various everyday items 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. The company's platform includes endpoint integrated circuits (ICs), a miniature radios-on-a-chip that attach-to and identify their host items; and connectivity products that comprise reader ICs and modules, readers, and gateways to wirelessly identify, locate, authenticate, and engage items, as well as provide power to and communicate bidirectionally with endpoint ICs.

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