Impinj (NASDAQ:PI) Receives “Overweight” Rating from Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Impinj (NASDAQ:PI) in a report issued on Thursday, Benzinga reports. The firm currently has a $150.00 target price on the stock, up from their previous target price of $130.00.

Several other equities analysts also recently weighed in on PI. Evercore ISI started coverage on shares of Impinj in a report on Tuesday, April 16th. They set an outperform rating and a $160.00 target price for the company. Roth Mkm lifted their price target on shares of Impinj from $115.00 to $125.00 and gave the stock a buy rating in a report on Thursday, March 14th. StockNews.com upgraded shares of Impinj to a sell rating in a report on Friday, February 9th. Needham & Company LLC lifted their price target on shares of Impinj from $130.00 to $160.00 and gave the stock a buy rating in a report on Thursday. Finally, Canaccord Genuity Group lifted their price target on shares of Impinj from $130.00 to $150.00 and gave the stock a buy rating in a report on Thursday, March 14th. Two research analysts have rated the stock with a sell rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of $128.33.

Impinj Stock Performance

Shares of PI stock traded down $9.86 during mid-day trading on Thursday, hitting $145.69. The stock had a trading volume of 755,009 shares, compared to its average volume of 410,422. Impinj has a fifty-two week low of $48.39 and a fifty-two week high of $156.41. The firm has a market cap of $4.03 billion, a PE ratio of -413.77 and a beta of 2.05. The company has a debt-to-equity ratio of 8.26, a current ratio of 8.73 and a quick ratio of 5.59. The company’s 50-day simple moving average is $118.27 and its 200-day simple moving average is $94.35.

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

Insider Buying and Selling

In other Impinj news, COO Hussein Mecklai sold 30,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $104.80, for a total value of $3,144,000.00. Following the completion of the sale, the chief operating officer now directly owns 40,489 shares of the company’s stock, valued at approximately $4,243,247.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Chris Ph.D. Diorio sold 16,060 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $101.16, for a total value of $1,624,629.60. Following the transaction, the chief executive officer now owns 278,863 shares in the company, valued at approximately $28,209,781.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Hussein Mecklai sold 30,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $104.80, for a total value of $3,144,000.00. Following the completion of the transaction, the chief operating officer now owns 40,489 shares in the company, valued at approximately $4,243,247.20. The disclosure for this sale can be found here. Insiders sold 120,185 shares of company stock valued at $12,767,674 over the last 90 days. 17.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Impinj

Hedge funds have recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC acquired a new position in Impinj in the first quarter worth approximately $32,000. GAMMA Investing LLC bought a new stake in Impinj during the fourth quarter worth approximately $40,000. Newbridge Financial Services Group Inc. bought a new stake in Impinj during the third quarter worth approximately $55,000. Headlands Technologies LLC bought a new stake in Impinj during the fourth quarter worth approximately $58,000. Finally, Asset Management One Co. Ltd. boosted its position in Impinj by 74.6% during the third quarter. Asset Management One Co. Ltd. now owns 1,226 shares of the company’s stock worth $67,000 after purchasing an additional 524 shares during the period.

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.