Lake Street Capital Boosts Impinj (NASDAQ:PI) Price Target to $251.00

Impinj (NASDAQ:PI) had its target price boosted by equities researchers at Lake Street Capital from $190.00 to $251.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “buy” rating on the stock. Lake Street Capital’s target price would indicate a potential upside of 29.80% from the company’s current price.

Several other analysts also recently weighed in on the company. Evercore ISI restated an “outperform” rating and issued a $270.00 price objective (up from $205.00) on shares of Impinj in a report on Thursday. Susquehanna lifted their price objective on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a report on Monday. Needham & Company LLC boosted their target price on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a report on Thursday. Piper Sandler reiterated an “overweight” rating and issued a $235.00 target price (up from $225.00) on shares of Impinj in a report on Thursday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $205.00 target price on shares of Impinj in a report on Thursday, July 25th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $214.70.

Impinj Price Performance

Shares of NASDAQ:PI traded down $29.09 on Thursday, hitting $193.37. 1,118,884 shares of the company’s stock were exchanged, compared to its average volume of 461,048. Impinj has a 12 month low of $48.39 and a 12 month high of $239.88. The stock has a market capitalization of $5.44 billion, a price-to-earnings ratio of 666.79 and a beta of 1.80. The business’s 50 day simple moving average is $195.01 and its two-hundred day simple moving average is $168.26.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, July 24th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.09. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The business had revenue of $102.50 million during the quarter, compared to the consensus estimate of $97.47 million. During the same period last year, the company earned ($0.14) earnings per share. The business’s revenue for the quarter was up 19.2% compared to the same quarter last year. Equities analysts forecast that Impinj will post 0.31 EPS for the current fiscal year.

Insider Activity at Impinj

In related news, CRO Jeffrey Dossett sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $157.81, for a total value of $2,367,150.00. Following the sale, the executive now owns 63,642 shares in the company, valued at $10,043,344.02. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Impinj news, CFO Cary Baker sold 366 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $237.83, for a total value of $87,045.78. Following the completion of the transaction, the chief financial officer now directly owns 71,096 shares of the company’s stock, valued at approximately $16,908,761.68. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Jeffrey Dossett sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $157.81, for a total value of $2,367,150.00. Following the transaction, the executive now directly owns 63,642 shares of the company’s stock, valued at approximately $10,043,344.02. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 21,779 shares of company stock worth $3,825,046 over the last quarter. Insiders own 51.00% of the company’s stock.

Institutional Trading of Impinj

Several large investors have recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC acquired a new stake in Impinj in the 1st quarter valued at about $32,000. Deltec Asset Management LLC acquired a new stake in shares of Impinj during the 1st quarter worth about $584,000. Principal Financial Group Inc. raised its position in shares of Impinj by 16.9% during the 1st quarter. Principal Financial Group Inc. now owns 3,137 shares of the company’s stock worth $403,000 after acquiring an additional 454 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Impinj by 13.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company’s stock worth $7,990,000 after acquiring an additional 7,247 shares in the last quarter. Finally, Jennison Associates LLC acquired a new stake in shares of Impinj during the 1st quarter worth about $25,747,000.

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.