Impinj (NASDAQ:PI) Price Target Increased to $156.00 by Analysts at The Goldman Sachs Group

Impinj (NASDAQ:PI) had its target price hoisted by The Goldman Sachs Group from $130.00 to $156.00 in a research report released on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages also recently weighed in on PI. Susquehanna raised their price target on Impinj from $130.00 to $140.00 and gave the company a positive rating in a report 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 report on Thursday. Evercore ISI assumed coverage on Impinj in a report on Tuesday, April 16th. They set an outperform rating and a $160.00 price target for the company. Needham & Company LLC boosted their target price on Impinj from $130.00 to $160.00 and gave the stock a buy rating in a research report on Thursday. Finally, StockNews.com upgraded shares of Impinj to a sell rating in a research note on Friday, February 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $132.89.

Impinj Price Performance

PI opened at $150.91 on Friday. The firm’s fifty day moving average price is $119.23 and its two-hundred day moving average price is $95.02. Impinj has a 1 year low of $48.39 and a 1 year high of $156.41. The company has a quick ratio of 5.59, a current ratio of 9.42 and a debt-to-equity ratio of 3.29.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, April 24th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.14. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. The company had revenue of $76.83 million during the quarter, compared to analyst estimates of $73.57 million. On average, equities analysts anticipate 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 business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $106.23, for a total value of $1,062,300.00. Following the sale, the insider now directly owns 21,750 shares in the company, valued at $2,310,502.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Cathal G. Phelan sold 10,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $106.23, for a total value of $1,062,300.00. Following the sale, the insider now directly owns 21,750 shares in the company, valued at $2,310,502.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Hussein Mecklai sold 30,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was 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 owns 40,489 shares in the company, valued at $4,243,247.20. The disclosure for this sale can be found here. Insiders sold a total of 120,185 shares of company stock valued at $12,767,674 over the last 90 days. Company insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Impinj

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Charles Schwab Investment Management Inc. raised its holdings in shares of Impinj by 4.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 174,037 shares of the company’s stock worth $9,577,000 after buying an additional 8,038 shares during the period. Aigen Investment Management LP purchased a new stake in shares of Impinj in the third quarter worth approximately $320,000. FMR LLC raised its holdings in shares of Impinj by 0.8% in the third quarter. FMR LLC now owns 4,028,894 shares of the company’s stock worth $221,710,000 after buying an additional 31,289 shares during the period. Telemus Capital LLC purchased a new stake in shares of Impinj in the fourth quarter worth approximately $298,000. Finally, AWM Investment Company Inc. raised its holdings in shares of Impinj by 9.5% in the third quarter. AWM Investment Company Inc. now owns 365,428 shares of the company’s stock worth $20,110,000 after buying an additional 31,556 shares during the period.

About Impinj

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.