Kornitzer Capital Management Inc. KS Takes Position in Impinj, Inc. $PI

Kornitzer Capital Management Inc. KS purchased a new stake in shares of Impinj, Inc. (NASDAQ:PI) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 9,000 shares of the company’s stock, valued at approximately $1,627,000.

Several other large investors have also added to or reduced their stakes in PI. CoreCap Advisors LLC bought a new position in shares of Impinj in the third quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Impinj during the 2nd quarter valued at $28,000. Salomon & Ludwin LLC purchased a new position in shares of Impinj during the 3rd quarter valued at $31,000. Harbour Investments Inc. bought a new position in Impinj in the 2nd quarter worth $33,000. Finally, Quaker Wealth Management LLC increased its stake in Impinj by 200.0% in the 2nd quarter. Quaker Wealth Management LLC now owns 300 shares of the company’s stock worth $33,000 after buying an additional 600 shares in the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Weiss Ratings restated a “sell (d)” rating on shares of Impinj in a research report on Thursday, January 22nd. Piper Sandler lifted their target price on Impinj from $180.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, October 23rd. UBS Group lowered their price target on Impinj from $200.00 to $190.00 and set a “neutral” rating on the stock in a report on Monday. Wall Street Zen lowered shares of Impinj from a “buy” rating to a “hold” rating in a report on Sunday, November 9th. Finally, Evercore ISI boosted their target price on shares of Impinj from $236.00 to $273.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Seven equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Impinj presently has a consensus rating of “Moderate Buy” and a consensus target price of $225.22.

Insider Buying and Selling

In other news, insider Sylebra Capital Llc sold 134,629 shares of the business’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $150.36, for a total value of $20,242,816.44. Following the sale, the insider directly owned 1,132,152 shares in the company, valued at $170,230,374.72. The trade was a 10.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 697,450 shares of company stock worth $110,643,153 in the last three months. 51.00% of the stock is owned by company insiders.

Impinj Stock Down 0.1%

Shares of PI opened at $161.56 on Thursday. The company has a debt-to-equity ratio of 0.94, a current ratio of 2.67 and a quick ratio of 1.97. The stock has a market capitalization of $4.86 billion, a price-to-earnings ratio of -367.17 and a beta of 1.52. Impinj, Inc. has a 1 year low of $60.85 and a 1 year high of $247.06. The business’s 50 day simple moving average is $169.71 and its 200-day simple moving average is $172.37.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, October 29th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.08. The company had revenue of $96.06 million for the quarter, compared to analysts’ expectations of $92.71 million. Impinj had a negative net margin of 3.45% and a positive return on equity of 8.15%. Impinj’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.56 earnings per share. As a group, equities analysts expect that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Impinj Profile

Impinj, Inc, headquartered in Seattle, Washington, develops Radio Frequency Identification (RFID) solutions designed to connect everyday items to the internet. Founded in 2000, the company pioneered RAIN RFID technology with a focus on transforming supply chain and inventory processes across retail, healthcare, airport baggage handling and manufacturing. Impinj’s platform comprises RAIN RFID tag chips, fixed and handheld RFID readers, gateways, antennas and connectivity modules that enable real-time visibility of tagged items.

Impinj’s product portfolio is built around its core RAIN RFID ecosystem, offering tag chips for high-volume production (Monza series), reader chips for integration into third-party devices and complete reader and gateway systems (Speedway series and xArray).