Impinj (NASDAQ:PI) Updates Q4 Earnings Guidance

Impinj (NASDAQ:PI) updated its fourth quarter earnings guidance on Wednesday morning. The company provided EPS guidance of $0.45-$0.49 for the period, compared to the consensus EPS estimate of $0.40. The company issued revenue guidance of $91.0-$94.0 million, compared to the consensus revenue estimate of $90.06 million. Impinj also updated its Q4 2024 guidance to 0.450-0.490 EPS.

Impinj Trading Up 6.3 %

NASDAQ:PI traded up $12.09 during mid-day trading on Friday, hitting $204.30. 541,850 shares of the company’s stock were exchanged, compared to its average volume of 466,897. The company has a 50 day simple moving average of $195.60 and a 200-day simple moving average of $168.43. Impinj has a fifty-two week low of $58.56 and a fifty-two week high of $239.88. The firm has a market capitalization of $5.74 billion, a P/E ratio of 704.48 and a beta of 1.80.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.48 by $0.08. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The business had revenue of $95.20 million for the quarter, compared to the consensus estimate of $92.86 million. During the same period last year, the company earned ($0.36) EPS. The firm’s revenue was up 46.5% compared to the same quarter last year. As a group, analysts expect that Impinj will post 0.31 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on PI shares. Needham & Company LLC boosted their price target on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research report on Thursday. Cantor Fitzgerald boosted their price target on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday. StockNews.com upgraded shares of Impinj from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Roth Mkm boosted their price target on shares of Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Piper Sandler restated an “overweight” rating and issued a $235.00 price target (up previously from $225.00) on shares of Impinj in a research report on Thursday. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $224.60.

Insider Activity

In other Impinj news, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was acquired at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the purchase, the insider now owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Impinj news, insider Cathal G. Phelan sold 209 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $209.15, for a total transaction of $43,712.35. Following the completion of the sale, the insider now owns 17,647 shares in the company, valued at approximately $3,690,870.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Sylebra Capital Llc purchased 4,264,393 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were acquired at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the purchase, the insider now directly owns 33,050,456 shares in the company, valued at $155,006,638.64. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders sold 21,779 shares of company stock worth $3,825,046 in the last quarter. 51.00% of the stock is owned by corporate insiders.

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.