Impinj (NASDAQ:PI) PT Raised to $140.00

Impinj (NASDAQ:PI) had its target price hoisted by stock analysts at Susquehanna from $130.00 to $140.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has a “positive” rating on the stock. Susquehanna’s target price points to a potential upside of 15.79% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. StockNews.com upgraded Impinj to a “sell” rating in a report on Friday, February 9th. Roth Mkm upped their price objective on Impinj from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Thursday, March 14th. The Goldman Sachs Group upped their price objective on Impinj from $89.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Canaccord Genuity Group boosted their price target on Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Finally, Evercore ISI assumed coverage on Impinj in a research report on Tuesday, April 16th. They set an “outperform” rating and a $160.00 price target for the company. Two investment analysts have rated the stock with a sell rating and six have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $120.56.

Impinj Stock Performance

Impinj stock opened at $120.91 on Tuesday. The stock’s 50 day moving average price is $117.29 and its 200 day moving average price is $93.92. The firm has a market capitalization of $3.34 billion, a PE ratio of -74.64 and a beta of 2.05. The company has a debt-to-equity ratio of 8.26, a quick ratio of 5.59 and a current ratio of 8.73. Impinj has a one year low of $48.39 and a one year high of $139.46.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Thursday, February 8th. The company reported ($0.36) EPS for the quarter, topping the consensus estimate of ($0.47) by $0.11. Impinj had a negative return on equity of 74.70% and a negative net margin of 14.10%. The firm had revenue of $70.65 million for the quarter, compared to analyst estimates of $67.10 million. As a group, sell-side analysts expect that Impinj will post -0.62 EPS for the current fiscal year.

Insider Activity at Impinj

In other Impinj news, COO Hussein Mecklai sold 435 shares of the company’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $118.75, for a total value of $51,656.25. Following the transaction, the chief operating officer now directly owns 55,414 shares of the company’s stock, valued at approximately $6,580,412.50. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, COO Hussein Mecklai sold 435 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $118.75, for a total transaction of $51,656.25. Following the transaction, the chief operating officer now owns 55,414 shares of the company’s stock, valued at approximately $6,580,412.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 16,060 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $101.16, for a total value of $1,624,629.60. Following the transaction, the chief executive officer now directly owns 278,863 shares in the company, valued at approximately $28,209,781.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 120,185 shares of company stock valued at $12,767,674. Company insiders own 17.10% of the company’s stock.

Institutional Trading of Impinj

Several hedge funds have recently added to or reduced their stakes in PI. CWM LLC lifted its position in shares of Impinj by 68.3% in the 3rd quarter. CWM LLC now owns 6,157 shares of the company’s stock worth $339,000 after acquiring an additional 2,499 shares during the period. SG Americas Securities LLC raised its holdings in shares of Impinj by 101.9% in the 3rd quarter. SG Americas Securities LLC now owns 30,894 shares of the company’s stock worth $1,700,000 after buying an additional 15,591 shares in the last quarter. Avior Wealth Management LLC raised its holdings in shares of Impinj by 35.8% in the 3rd quarter. Avior Wealth Management LLC now owns 4,665 shares of the company’s stock worth $257,000 after buying an additional 1,229 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Impinj in the 3rd quarter worth approximately $55,000. Finally, Asset Management One Co. Ltd. raised its holdings 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 buying an additional 524 shares in the last quarter.

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.