Impinj’s (PI) Overweight Rating Reiterated at Piper Sandler

Impinj (NASDAQ:PI)‘s stock had its “overweight” rating reissued by stock analysts at Piper Sandler in a report released on Thursday, Benzinga reports. They presently have a $235.00 price objective on the stock, up from their prior price objective of $225.00. Piper Sandler’s price target suggests a potential upside of 17.09% from the company’s current price.

PI has been the subject of a number of other research reports. StockNews.com raised shares of Impinj from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Roth Mkm raised 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. Susquehanna boosted their price objective on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research report on Monday, October 21st. Evercore ISI raised their target price on shares of Impinj from $172.00 to $205.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $205.00 target price on shares of Impinj in a research note on Thursday, July 25th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $224.60.

Impinj Stock Performance

PI opened at $200.70 on Thursday. The company has a market capitalization of $5.64 billion, a P/E ratio of 692.07 and a beta of 1.80. The company has a 50-day moving average of $196.40 and a 200-day moving average of $168.96. Impinj has a 1-year low of $58.56 and a 1-year high of $239.88.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.08. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The firm had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. During the same period in the previous year, the company earned ($0.36) earnings per share. Impinj’s quarterly revenue was up 46.5% on a year-over-year basis. As a group, sell-side analysts expect that Impinj will post 0.31 earnings per share for the current fiscal year.

Insider Activity at Impinj

In related news, CFO Cary Baker sold 366 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $237.83, for a total value of $87,045.78. Following the completion of the transaction, the chief financial officer now owns 71,096 shares in the company, valued at $16,908,761.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were bought at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the purchase, the insider now owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Cary Baker sold 366 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $237.83, for a total value of $87,045.78. Following the transaction, the chief financial officer now directly owns 71,096 shares of the company’s stock, valued at $16,908,761.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,779 shares of company stock worth $3,825,046 in the last three months. 51.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Impinj

Institutional investors and hedge funds have recently bought and sold shares of the business. New York State Teachers Retirement System acquired a new position in Impinj in the third quarter worth approximately $1,126,000. State of Alaska Department of Revenue bought a new stake in shares of Impinj during the 3rd quarter worth $2,813,000. First Bank & Trust grew its holdings in shares of Impinj by 3.2% in the 3rd quarter. First Bank & Trust now owns 1,768 shares of the company’s stock worth $383,000 after acquiring an additional 55 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Impinj by 157.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 9,278 shares of the company’s stock worth $2,009,000 after purchasing an additional 5,669 shares during the period. Finally, Consolidated Portfolio Review Corp purchased a new stake in shares of Impinj during the third quarter valued at $1,861,000.

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.