A number of other equities research analysts have also issued reports on PI. Dougherty & Co reissued a buy rating and set a $62.00 price target on shares of IMPINJ in a research note on Thursday, September 14th. Canaccord Genuity restated a buy rating and set a $50.00 price objective (down previously from $57.00) on shares of IMPINJ in a report on Friday, August 4th. Needham & Company LLC upped their price objective on IMPINJ from $40.00 to $55.00 and gave the company a buy rating in a research report on Wednesday, July 26th. Morgan Stanley downgraded IMPINJ from an overweight rating to an equal weight rating and upped their price objective for the company from $40.00 to $51.00 in a research report on Monday, June 19th. Finally, KeyCorp reiterated a hold rating on shares of IMPINJ in a research note on Wednesday, August 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. IMPINJ currently has an average rating of Buy and an average price target of $49.29.
IMPINJ (NYSE:PI) opened at 40.69 on Friday. The stock’s 50 day moving average price is $39.55 and its 200 day moving average price is $39.55. IMPINJ has a 1-year low of $23.55 and a 1-year high of $41.97. The stock has a market capitalization of $848.79 million and a PE ratio of 39.50.
IMPINJ (NYSE:PI) last announced its earnings results on Thursday, August 3rd. The company reported $0.06 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.04. The business had revenue of $34.10 million during the quarter, compared to analyst estimates of $33.41 million. IMPINJ had a negative return on equity of 3.11% and a negative net margin of 2.86%. The company’s revenue for the quarter was up 31.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.06 earnings per share. On average, equities research analysts predict that IMPINJ will post $0.05 earnings per share for the current fiscal year.
In related news, CFO Evan Fein sold 9,000 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $38.00, for a total value of $342,000.00. Following the completion of the sale, the chief financial officer now directly owns 15,300 shares of the company’s stock, valued at $581,400. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Eric Brodersen sold 3,500 shares of the stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $35.74, for a total transaction of $125,090.00. Following the transaction, the chief operating officer now owns 101,443 shares in the company, valued at $3,625,572.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,500 shares of company stock worth $1,693,315.
Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA raised its holdings in shares of IMPINJ by 1,261.0% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock valued at $102,000 after purchasing an additional 1,942 shares in the last quarter. American International Group Inc. purchased a new stake in shares of IMPINJ in the 1st quarter worth approximately $112,000. ClariVest Asset Management LLC purchased a new stake in shares of IMPINJ in the 1st quarter worth approximately $127,000. Nordea Investment Management AB purchased a new stake in shares of IMPINJ in the 1st quarter worth approximately $127,000. Finally, Turner Investments LLC purchased a new stake in shares of IMPINJ in the 2nd quarter worth approximately $146,000.
Impinj, Inc is a provider of RAIN radio frequency identification (RFID) solutions. The Company sells a platform that includes endpoint integrated circuits (ICs), reader ICs, readers and gateways that enable wireless connectivity to everyday items, and software that delivers Item Intelligence from endpoint reads.
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