Impinj (NASDAQ:PI) Price Target Increased to $145.00 by Analysts at Roth Mkm

Impinj (NASDAQ:PI) had its target price boosted by Roth Mkm from $125.00 to $145.00 in a research report released on Thursday morning, Benzinga reports. Roth Mkm currently has a buy rating on the stock.

Other equities analysts have also issued reports about the company. Susquehanna boosted their price target on Impinj from $130.00 to $140.00 and gave the company a positive rating in a research note on Tuesday. Piper Sandler restated an overweight rating and set a $150.00 price target (up from $130.00) on shares of Impinj in a research note on Thursday. The Goldman Sachs Group boosted their target price on Impinj from $89.00 to $115.00 and gave the stock a buy rating in a report on Friday, February 9th. StockNews.com upgraded shares of Impinj to a sell rating in a research report on Friday, February 9th. Finally, Canaccord Genuity Group upped their target price on shares of Impinj from $130.00 to $150.00 and gave the company a buy rating in a research report on Thursday, March 14th. Two research analysts have rated the stock with a sell rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $128.33.

Impinj Stock Down 5.7 %

NASDAQ PI traded down $8.82 during trading on Thursday, hitting $146.73. 796,786 shares of the company traded hands, compared to its average volume of 411,016. Impinj has a 12 month low of $48.39 and a 12 month high of $156.41. The business has a fifty day simple moving average of $118.27 and a 200 day simple moving average of $94.35. The company has a current ratio of 8.73, a quick ratio of 5.59 and a debt-to-equity ratio of 8.26. The company has a market capitalization of $4.06 billion, a P/E ratio of -413.77 and a beta of 2.05.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, beating the consensus estimate of ($0.31) by $0.14. The company had revenue of $76.83 million for the quarter, compared to analyst estimates of $73.57 million. Impinj had a negative return on equity of 81.75% and a negative net margin of 1.90%. As a group, sell-side analysts predict that Impinj will post -0.62 EPS for the current year.

Insider Transactions at Impinj

In related news, insider Cathal G. Phelan sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $106.23, for a total value of $1,062,300.00. Following the completion of the sale, the insider now directly owns 21,750 shares in the company, valued at approximately $2,310,502.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Cary Baker sold 374 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $118.70, for a total transaction of $44,393.80. Following the transaction, the chief financial officer now directly owns 67,948 shares of the company’s stock, valued at $8,065,427.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cathal G. Phelan sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $106.23, for a total transaction of $1,062,300.00. Following the transaction, the insider now owns 21,750 shares of the company’s stock, valued at $2,310,502.50. The disclosure for this sale can be found here. Insiders sold a total of 120,185 shares of company stock worth $12,767,674 in the last three months. Insiders own 17.10% of the company’s stock.

Institutional Trading of Impinj

A number of hedge funds and other institutional investors have recently modified their holdings of PI. Sylebra Capital LLC bought a new stake in shares of Impinj in the third quarter worth $217,290,000. Capital International Investors acquired a new position in shares of Impinj during the fourth quarter valued at about $68,211,000. Fred Alger Management LLC raised its holdings in shares of Impinj by 249.6% during the third quarter. Fred Alger Management LLC now owns 795,973 shares of the company’s stock valued at $43,802,000 after purchasing an additional 568,301 shares during the period. Westfield Capital Management Co. LP raised its holdings in shares of Impinj by 40.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,022,359 shares of the company’s stock valued at $56,260,000 after purchasing an additional 292,470 shares during the period. Finally, Sora Investors LLC acquired a new stake in shares of Impinj in the 3rd quarter worth about $9,080,000.

Impinj Company Profile

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.