Impinj, Inc. (NASDAQ:PI) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Impinj, Inc. (NASDAQ:PI) have been assigned a consensus rating of “Moderate Buy” from the eight analysts that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $154.00.

Several research firms have recently issued reports on PI. Needham & Company LLC reaffirmed a “buy” rating and set a $195.00 price objective on shares of Impinj in a research report on Wednesday, June 5th. Susquehanna lifted their price objective on shares of Impinj from $130.00 to $140.00 and gave the stock a “positive” rating in a research report on Tuesday, April 23rd. Canaccord Genuity Group lifted their price objective on shares of Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. StockNews.com cut shares of Impinj from a “hold” rating to a “sell” rating in a research report on Tuesday, May 21st. Finally, The Goldman Sachs Group cut shares of Impinj from a “buy” rating to a “neutral” rating and set a $156.00 price objective for the company. in a research report on Monday, May 20th.

Impinj Stock Performance

Shares of NASDAQ PI opened at $158.68 on Wednesday. The company has a debt-to-equity ratio of 3.29, a quick ratio of 6.87 and a current ratio of 9.42. The company has a 50 day simple moving average of $158.32 and a 200-day simple moving average of $124.52. Impinj has a 1 year low of $48.39 and a 1 year high of $175.41.

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.14. The firm had revenue of $76.83 million during the quarter, compared to analysts’ expectations of $73.57 million. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. On average, analysts anticipate that Impinj will post 0.02 EPS for the current year.

Insider Activity at Impinj

In other Impinj news, CEO Chris Ph.D. Diorio sold 1,244 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $118.67, for a total transaction of $147,625.48. Following the transaction, the chief executive officer now owns 286,230 shares of the company’s stock, valued at $33,966,914.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Cary Baker sold 374 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $118.70, for a total value of $44,393.80. Following the transaction, the chief financial officer now owns 67,948 shares of the company’s stock, valued at approximately $8,065,427.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 1,244 shares of the firm’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $118.67, for a total transaction of $147,625.48. Following the completion of the transaction, the chief executive officer now directly owns 286,230 shares in the company, valued at approximately $33,966,914.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,093,088 shares of company stock valued at $166,964,996. Company insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

A number of hedge funds have recently made changes to their positions in the business. Future Financial Wealth Managment LLC acquired a new stake in Impinj during the 1st quarter valued at $32,000. GAMMA Investing LLC acquired a new position in Impinj during the 4th quarter worth $40,000. Headlands Technologies LLC acquired a new position in Impinj during the 4th quarter worth $58,000. Whittier Trust Co. acquired a new position in Impinj during the 4th quarter worth $90,000. Finally, Benjamin F. Edwards & Company Inc. grew its holdings in Impinj by 117.9% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock worth $124,000 after acquiring an additional 521 shares in the last quarter.

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.