Susquehanna Lowers Impinj (NASDAQ:PI) Price Target to $220.00

Impinj (NASDAQ:PI) had its price target lowered by investment analysts at Susquehanna from $260.00 to $220.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage presently has a “positive” rating on the stock. Susquehanna’s price objective suggests a potential upside of 57.74% from the company’s current price.

A number of other equities research analysts have also recently issued reports on PI. Needham & Company LLC lowered their target price on shares of Impinj from $245.00 to $182.00 and set a “buy” rating on the stock in a report on Friday, January 17th. StockNews.com upgraded Impinj from a “sell” rating to a “hold” rating in a research note on Thursday, January 16th. Evercore ISI restated an “outperform” rating and issued a $270.00 target price (up previously from $205.00) on shares of Impinj in a research note on Thursday, October 24th. Piper Sandler reissued an “overweight” rating and issued a $235.00 price target (up from $225.00) on shares of Impinj in a report on Thursday, October 24th. Finally, Cantor Fitzgerald boosted their price objective on shares of Impinj from $205.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. One analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $214.30.

Impinj Price Performance

Shares of NASDAQ PI opened at $139.47 on Wednesday. The business’s fifty day moving average price is $159.88 and its 200-day moving average price is $175.86. Impinj has a one year low of $95.96 and a one year high of $239.88. The stock has a market capitalization of $3.95 billion, a PE ratio of 156.71 and a beta of 1.88.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. Impinj had a net margin of 8.21% and a negative return on equity of 1.64%. The firm had revenue of $95.20 million during the quarter, compared to analyst estimates of $92.86 million. During the same quarter last year, the business earned ($0.36) earnings per share. The company’s quarterly revenue was up 46.5% on a year-over-year basis. As a group, equities analysts expect that Impinj will post 0.44 EPS for the current fiscal year.

Insider Transactions at Impinj

In related news, CEO Chris Ph.D. Diorio sold 841 shares of Impinj stock in a transaction on Monday, January 13th. The shares were sold at an average price of $141.02, for a total value of $118,597.82. Following the transaction, the chief executive officer now owns 333,856 shares in the company, valued at $47,080,373.12. This trade represents a 0.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Hussein Mecklai sold 10,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $204.75, for a total transaction of $2,047,500.00. Following the sale, the chief operating officer now owns 60,041 shares of the company’s stock, valued at approximately $12,293,394.75. The trade was a 14.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 655,038 shares of company stock valued at $131,064,693 in the last quarter. Insiders own 51.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PI. Hsbc Holdings PLC raised its holdings in Impinj by 7.3% during the 2nd quarter. Hsbc Holdings PLC now owns 2,777 shares of the company’s stock valued at $432,000 after buying an additional 190 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Impinj in the second quarter valued at about $204,000. Xponance Inc. bought a new position in shares of Impinj during the second quarter valued at about $224,000. Marshall Wace LLP boosted its holdings in shares of Impinj by 366.1% during the second quarter. Marshall Wace LLP now owns 7,924 shares of the company’s stock worth $1,242,000 after purchasing an additional 6,224 shares during the period. Finally, Point72 DIFC Ltd bought a new stake in shares of Impinj in the second quarter worth about $372,000.

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.