Mutual of America Capital Management LLC Decreases Stock Holdings in Impinj, Inc. (NASDAQ:PI)

Mutual of America Capital Management LLC lowered its position in shares of Impinj, Inc. (NASDAQ:PI) by 3.0% in the first quarter, HoldingsChannel.com reports. The firm owned 3,367 shares of the company’s stock after selling 103 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Impinj were worth $305,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Impinj by 7.0% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 8,169 shares of the company’s stock worth $741,000 after purchasing an additional 535 shares during the last quarter. KBC Group NV increased its holdings in shares of Impinj by 35.0% in the 1st quarter. KBC Group NV now owns 1,227 shares of the company’s stock valued at $111,000 after acquiring an additional 318 shares during the period. GAMMA Investing LLC raised its position in Impinj by 68.7% in the 1st quarter. GAMMA Investing LLC now owns 722 shares of the company’s stock valued at $65,000 after purchasing an additional 294 shares during the last quarter. Bank of Montreal Can grew its position in Impinj by 10.3% during the 4th quarter. Bank of Montreal Can now owns 2,781 shares of the company’s stock worth $404,000 after purchasing an additional 260 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in Impinj by 46.3% in the first quarter. Oppenheimer Asset Management Inc. now owns 3,083 shares of the company’s stock valued at $280,000 after purchasing an additional 975 shares during the period.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on PI shares. Cantor Fitzgerald increased their target price on shares of Impinj from $133.00 to $158.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Needham & Company LLC increased their price objective on Impinj from $115.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, July 31st. Piper Sandler upped their price target on Impinj from $140.00 to $180.00 and gave the stock an “overweight” rating in a research note on Thursday, July 31st. Susquehanna upped their price objective on shares of Impinj from $130.00 to $140.00 and gave the stock a “positive” rating in a research report on Tuesday, July 22nd. Finally, Evercore ISI lifted their target price on shares of Impinj from $99.00 to $117.00 and gave the company an “outperform” rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Impinj presently has an average rating of “Moderate Buy” and an average target price of $163.29.

Impinj Stock Performance

NASDAQ:PI opened at $162.43 on Wednesday. The firm’s fifty day simple moving average is $121.61 and its 200-day simple moving average is $106.05. The company has a quick ratio of 8.44, a current ratio of 11.64 and a debt-to-equity ratio of 1.51. The stock has a market cap of $4.73 billion, a PE ratio of 16,259.26 and a beta of 1.74. Impinj, Inc. has a fifty-two week low of $60.85 and a fifty-two week high of $239.88.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.08. The business had revenue of $97.89 million for the quarter, compared to analysts’ expectations of $93.78 million. Impinj had a return on equity of 8.14% and a net margin of 0.18%. The company’s revenue was down 4.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.83 EPS. Analysts expect that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

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.