IMPINJ (PI) Rating Lowered to Hold at Zacks Investment Research

IMPINJ (NASDAQ:PI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Thursday.

According to Zacks, “Impinj, Inc. is a provider of referral and information network radio frequency identification solutions to the retail, pharmaceutical, healthcare, food and beverage and other industries. The company’s products include Indy Reader Chips which consists of integrated radio chips and supporting SDKs; Monza Tag Chips, which deliver memory options and extended features to RFID tags and Speedway fixed RFID readers and antennas for RFID-based information. Impinj, Inc. is based in Seattle, Washington. “

Several other analysts have also recently commented on the stock. Piper Jaffray Companies lifted their price objective on shares of IMPINJ from $26.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, September 13th. BidaskClub upgraded shares of IMPINJ from a “hold” rating to a “buy” rating in a research note on Friday, September 28th. Finally, ValuEngine upgraded shares of IMPINJ from a “hold” rating to a “buy” rating in a research note on Monday, December 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a buy rating to the stock. IMPINJ has a consensus rating of “Hold” and an average price target of $19.40.



NASDAQ:PI opened at $16.41 on Thursday. The company has a market cap of $344.24 million, a price-to-earnings ratio of -56.83 and a beta of 2.58. IMPINJ has a twelve month low of $9.95 and a twelve month high of $28.48. The company has a current ratio of 5.49, a quick ratio of 3.34 and a debt-to-equity ratio of 0.20.

IMPINJ (NASDAQ:PI) last released its earnings results on Monday, October 29th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.09. The company had revenue of $34.40 million for the quarter, compared to the consensus estimate of $33.47 million. IMPINJ had a negative net margin of 33.58% and a negative return on equity of 20.18%. IMPINJ’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.08) EPS. On average, equities research analysts expect that IMPINJ will post -1.1 earnings per share for the current year.

In other IMPINJ news, insider Eric Brodersen sold 7,943 shares of the company’s stock in a transaction on Thursday, November 8th. The shares were sold at an average price of $22.00, for a total transaction of $174,746.00. Following the completion of the transaction, the insider now directly owns 68,100 shares in the company, valued at $1,498,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 26.00% of the company’s stock.

Large investors have recently bought and sold shares of the business. Benjamin F. Edwards & Company Inc. grew its holdings in shares of IMPINJ by 433.3% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 4,800 shares of the company’s stock worth $119,000 after buying an additional 3,900 shares in the last quarter. SOL Capital Management CO purchased a new stake in shares of IMPINJ during the third quarter worth $202,000. Oppenheimer & Co. Inc. purchased a new stake in shares of IMPINJ during the second quarter worth $220,000. MetLife Investment Advisors LLC grew its holdings in shares of IMPINJ by 56.7% during the third quarter. MetLife Investment Advisors LLC now owns 13,413 shares of the company’s stock worth $333,000 after buying an additional 4,852 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new stake in shares of IMPINJ during the third quarter worth $362,000. Institutional investors own 64.51% of the company’s stock.

About IMPINJ

Impinj, Inc operates a platform that enables wireless connectivity to everyday items by delivering each item's unique identity, location, and authenticity to business and consumer applications. The company's platform includes endpoint integrated circuits (ICs) product, a miniature radios-on-a-chip, which attach-to and identify their host items; and connectivity layer that comprises readers, gateways, and reader ICs to wirelessly identify, locate, authenticate, and engage endpoints via RAIN, as well as provide power to and communicate bidirectionally with endpoint ICs.

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