Impinj (NASDAQ:PI) PT Raised to $145.00

Impinj (NASDAQ:PI) had its price target lifted by equities researchers at Roth Mkm from $125.00 to $145.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Roth Mkm’s target price would suggest a potential downside of 3.92% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Evercore ISI assumed coverage on shares of Impinj in a research note on Tuesday, April 16th. They set an “outperform” rating and a $160.00 price target for the company. Needham & Company LLC raised their price target on shares of Impinj from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday. StockNews.com raised shares of Impinj to a “sell” rating in a research note on Friday, February 9th. Susquehanna raised their price target on shares of Impinj from $130.00 to $140.00 and gave the stock a “positive” rating in a research note on Tuesday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $150.00 price target (up from $130.00) on shares of Impinj in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Impinj presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.89.

Impinj Price Performance

NASDAQ PI opened at $150.91 on Thursday. The business has a 50 day simple moving average of $119.23 and a 200 day simple moving average of $95.02. Impinj has a 52-week low of $48.39 and a 52-week high of $156.41. The company has a debt-to-equity ratio of 3.29, a current ratio of 9.42 and a quick ratio of 5.59.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.14. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. The business had revenue of $76.83 million during the quarter, compared to analysts’ expectations of $73.57 million. As a group, analysts forecast that Impinj will post -0.62 EPS for the current fiscal year.

Insider Activity

In other news, COO Hussein Mecklai sold 30,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $104.80, for a total value of $3,144,000.00. Following the completion of the sale, the chief operating officer now owns 40,489 shares of the company’s stock, valued at approximately $4,243,247.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Impinj news, CFO Cary Baker sold 20,000 shares of the firm’s stock in a transaction on Wednesday, February 14th. The stock was sold at an average price of $102.14, for a total transaction of $2,042,800.00. Following the completion of the sale, the chief financial officer now owns 55,432 shares of the company’s stock, valued at approximately $5,661,824.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Hussein Mecklai sold 30,000 shares of the firm’s stock in a transaction 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 approximately $4,243,247.20. The disclosure for this sale can be found here. In the last 90 days, insiders sold 120,185 shares of company stock valued at $12,767,674. 17.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Impinj

Several hedge funds have recently added to or reduced their stakes in PI. FMR LLC lifted its holdings in shares of Impinj by 0.8% during the third quarter. FMR LLC now owns 4,028,894 shares of the company’s stock worth $221,710,000 after buying an additional 31,289 shares in the last quarter. Sylebra Capital LLC acquired a new stake in shares of Impinj during the third quarter worth $217,290,000. Westfield Capital Management Co. LP lifted its holdings in shares of Impinj by 40.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,022,359 shares of the company’s stock worth $56,260,000 after buying an additional 292,470 shares in the last quarter. Fred Alger Management LLC lifted its holdings in shares of Impinj by 249.6% during the third quarter. Fred Alger Management LLC now owns 795,973 shares of the company’s stock worth $43,802,000 after buying an additional 568,301 shares in the last quarter. Finally, Capital International Investors acquired a new stake in shares of Impinj during the fourth quarter worth $68,211,000.

About Impinj

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.