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

Impinj, Inc. (NASDAQ:PI) has been given an average rating of “Moderate Buy” by the eight research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating and seven have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $132.89.

PI has been the subject of a number of research reports. Piper Sandler reiterated an “overweight” rating and set a $150.00 target price (up previously from $130.00) on shares of Impinj in a research report on Thursday, April 25th. The Goldman Sachs Group increased their target price on shares of Impinj from $130.00 to $156.00 and gave the stock a “buy” rating in a research report on Friday, April 26th. Susquehanna raised their price objective on shares of Impinj from $130.00 to $140.00 and gave the company a “positive” rating in a research report on Tuesday, April 23rd. Evercore ISI started coverage on shares of Impinj in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $160.00 price objective for the company. Finally, Canaccord Genuity Group raised their price objective on shares of Impinj from $130.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, March 14th.

Impinj Price Performance

Shares of NASDAQ:PI opened at $163.33 on Tuesday. The company’s 50-day moving average is $126.12 and its 200 day moving average is $100.06. 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 market capitalization of $4.53 billion, a P/E ratio of -466.66 and a beta of 1.85. Impinj has a fifty-two week low of $48.39 and a fifty-two week high of $163.97.

Impinj (NASDAQ:PI) last issued its quarterly earnings results 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 company had revenue of $76.83 million for the quarter, compared to the consensus estimate of $73.57 million. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. On average, equities research analysts forecast that Impinj will post -0.62 earnings per share for the current year.

Insider Activity at Impinj

In related news, COO Hussein Mecklai sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $104.80, for a total value of $3,144,000.00. Following the sale, the chief operating officer now directly owns 40,489 shares of the company’s stock, valued at $4,243,247.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Impinj news, COO Hussein Mecklai sold 30,000 shares of Impinj stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $104.80, for a total transaction of $3,144,000.00. Following the transaction, the chief operating officer now directly owns 40,489 shares of the company’s stock, valued at $4,243,247.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cathal G. Phelan sold 10,000 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $106.23, for a total transaction of $1,062,300.00. Following the completion of the sale, the insider now directly owns 21,750 shares of the company’s stock, valued at approximately $2,310,502.50. The disclosure for this sale can be found here. Insiders have sold 183,321 shares of company stock valued at $22,221,714 over the last three months. 51.00% of the stock is owned by corporate insiders.

Institutional Trading of Impinj

A number of institutional investors have recently made changes to their positions in PI. Future Financial Wealth Managment LLC bought a new stake in shares of Impinj in the first quarter worth about $32,000. GAMMA Investing LLC bought a new position in shares of Impinj in the 4th quarter worth about $40,000. Headlands Technologies LLC bought a new position in shares of Impinj in the 4th quarter worth about $58,000. Asset Management One Co. Ltd. increased its stake in shares of Impinj by 74.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,226 shares of the company’s stock worth $67,000 after acquiring an additional 524 shares in the last quarter. Finally, Whittier Trust Co. bought a new stake in Impinj during the 4th quarter valued at about $90,000.

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.