Impinj, Inc. (NASDAQ:PI) Given Average Rating of “Moderate Buy” by Brokerages

Impinj, Inc. (NASDAQ:PI) has been assigned an average recommendation of “Moderate Buy” from the eleven analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $225.2222.

Several research firms have recently issued reports on PI. Evercore ISI raised their price target on Impinj from $236.00 to $273.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Roth Mkm reissued a “buy” rating and issued a $235.00 target price on shares of Impinj in a research note on Thursday, October 30th. UBS Group decreased their target price on Impinj from $200.00 to $190.00 and set a “neutral” rating for the company in a research report on Monday. Needham & Company LLC reaffirmed a “buy” rating and issued a $255.00 price target on shares of Impinj in a research note on Friday, January 16th. Finally, Wall Street Zen downgraded shares of Impinj from a “buy” rating to a “hold” rating in a research report on Sunday, November 9th.

Insider Buying and Selling at Impinj

In other news, insider Sylebra Capital Llc sold 134,629 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $150.36, for a total value of $20,242,816.44. Following the completion of the transaction, the insider owned 1,132,152 shares of the company’s stock, valued at $170,230,374.72. The trade was a 10.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 697,450 shares of company stock worth $110,643,153 over the last quarter. Company insiders own 51.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PI. Advisors Asset Management Inc. increased its holdings in shares of Impinj by 39.9% in the first quarter. Advisors Asset Management Inc. now owns 491 shares of the company’s stock worth $45,000 after acquiring an additional 140 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Impinj by 10.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 279,209 shares of the company’s stock worth $25,324,000 after purchasing an additional 26,388 shares in the last quarter. Focus Partners Wealth acquired a new stake in Impinj during the 1st quarter worth approximately $223,000. Intech Investment Management LLC raised its holdings in Impinj by 29.6% during the 1st quarter. Intech Investment Management LLC now owns 16,708 shares of the company’s stock worth $1,515,000 after buying an additional 3,812 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Impinj by 5.6% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 16,064 shares of the company’s stock valued at $1,861,000 after buying an additional 853 shares in the last quarter.

Impinj Stock Down 0.1%

Shares of NASDAQ:PI opened at $161.56 on Thursday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.67 and a quick ratio of 1.97. The stock has a market cap of $4.86 billion, a price-to-earnings ratio of -367.17 and a beta of 1.52. The company has a 50 day moving average of $169.71 and a 200-day moving average of $172.37. Impinj has a one year low of $60.85 and a one year high of $247.06.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, October 29th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.08. The firm had revenue of $96.06 million for the quarter, compared to analysts’ expectations of $92.71 million. Impinj had a negative net margin of 3.45% and a positive return on equity of 8.15%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the firm earned $0.56 earnings per share. On average, sell-side analysts forecast that Impinj will post -0.47 earnings per share for the current year.

About Impinj

Impinj, Inc, headquartered in Seattle, Washington, develops Radio Frequency Identification (RFID) solutions designed to connect everyday items to the internet. Founded in 2000, the company pioneered RAIN RFID technology with a focus on transforming supply chain and inventory processes across retail, healthcare, airport baggage handling and manufacturing. Impinj’s platform comprises RAIN RFID tag chips, fixed and handheld RFID readers, gateways, antennas and connectivity modules that enable real-time visibility of tagged items.

Impinj’s product portfolio is built around its core RAIN RFID ecosystem, offering tag chips for high-volume production (Monza series), reader chips for integration into third-party devices and complete reader and gateway systems (Speedway series and xArray).