Impinj (NASDAQ:PI) Price Target Increased to $140.00 by Analysts at Susquehanna

Impinj (NASDAQ:PI) had its price target lifted by Susquehanna from $130.00 to $140.00 in a report published on Tuesday, Benzinga reports. Susquehanna currently has a positive rating on the stock.

Several other brokerages have also recently weighed in on PI. Evercore ISI initiated coverage on shares of Impinj in a research note on Tuesday, April 16th. They set an outperform rating and a $160.00 price target on the stock. Needham & Company LLC lifted their target price on shares of Impinj from $120.00 to $130.00 and gave the company a buy rating in a research note on Thursday, March 14th. Canaccord Genuity Group lifted their target price on shares of Impinj from $130.00 to $150.00 and gave the company a buy rating in a research note on Thursday, March 14th. The Goldman Sachs Group lifted their target price on shares of Impinj from $89.00 to $115.00 and gave the company a buy rating in a research note on Friday, February 9th. Finally, StockNews.com upgraded shares of Impinj to a sell rating in a research note on Friday, February 9th. Two investment analysts have rated the stock with a sell rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Impinj presently has an average rating of Moderate Buy and an average target price of $120.56.

Impinj Price Performance

Shares of PI opened at $123.68 on Tuesday. The company has a market capitalization of $3.42 billion, a P/E ratio of -76.35 and a beta of 2.05. The company has a quick ratio of 5.59, a current ratio of 8.73 and a debt-to-equity ratio of 8.26. The firm has a 50 day moving average of $116.94 and a 200 day moving average of $93.73. Impinj has a twelve month low of $48.39 and a twelve month high of $141.03.

Impinj (NASDAQ:PI) last issued its earnings results on Thursday, February 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.11. Impinj had a negative net margin of 14.10% and a negative return on equity of 74.70%. The company had revenue of $70.65 million for the quarter, compared to analysts’ expectations of $67.10 million. As a group, equities research analysts anticipate that Impinj will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling at Impinj

In other news, CFO Cary Baker sold 20,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $102.14, for a total transaction of $2,042,800.00. Following the sale, the chief financial officer now directly owns 55,432 shares in the company, valued at approximately $5,661,824.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Cary Baker sold 20,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $102.14, for a total transaction of $2,042,800.00. Following the sale, the chief financial officer now directly owns 55,432 shares in the company, valued at approximately $5,661,824.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Hussein Mecklai sold 435 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $118.75, for a total transaction of $51,656.25. Following the sale, the chief operating officer now owns 55,414 shares in the company, valued at $6,580,412.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 120,185 shares of company stock worth $12,767,674. Insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Impinj

Several hedge funds have recently added to or reduced their stakes in the company. Wealth Effects LLC grew its holdings in Impinj by 1.0% during the 1st quarter. Wealth Effects LLC now owns 15,145 shares of the company’s stock valued at $1,945,000 after purchasing an additional 150 shares during the last quarter. Deltec Asset Management LLC bought a new position in Impinj during the 1st quarter valued at about $584,000. Future Financial Wealth Managment LLC bought a new position in Impinj during the 1st quarter valued at about $32,000. Ghisallo Capital Management LLC bought a new position in Impinj during the 4th quarter valued at about $4,192,000. Finally, Prudential PLC bought a new position in Impinj during the 4th quarter valued at about $277,000.

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.