IMPINJ’s (PI) “Buy” Rating Reaffirmed at Royal Bank Of Canada

Royal Bank Of Canada reaffirmed their buy rating on shares of IMPINJ Inc (NYSE:PI) in a report released on Friday morning.

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.

WARNING: This article was originally reported by Chaffey Breeze and is the property of of Chaffey Breeze. If you are viewing this article on another site, it was copied illegally and republished in violation of United States & international copyright and trademark laws. The legal version of this article can be read at https://www.chaffeybreeze.com/2017/10/03/impinjs-pi-buy-rating-reaffirmed-at-royal-bank-of-canada.html.

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.

About IMPINJ

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.

Analyst Recommendations for IMPINJ (NYSE:PI)

Receive News & Ratings for IMPINJ Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IMPINJ Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply