IMPINJ Inc (PI) PT Lowered to $42.00
IMPINJ Inc (NYSE:PI) had its price objective decreased by Royal Bank of Canada from $44.00 to $42.00 in a research report issued to clients and investors on Friday, May 5th. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 3.12% from the stock’s current price.
Several other research firms have also commented on PI. Zacks Investment Research upgraded shares of IMPINJ from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research note on Tuesday, April 25th. Needham & Company LLC reissued a “buy” rating and set a $40.00 target price (up previously from $32.00) on shares of IMPINJ in a research report on Friday, February 17th. Finally, Morgan Stanley reissued a “buy” rating and set a $40.00 target price on shares of IMPINJ in a research report on Tuesday, March 21st. One analyst has rated the stock with a sell rating and seven have given a buy rating to the stock. IMPINJ presently has an average rating of “Buy” and an average target price of $37.88.
IMPINJ (NYSE:PI) traded up 0.37% during trading on Friday, reaching $40.88. The company’s stock had a trading volume of 82,544 shares. The company has a 50-day moving average of $35.40 and a 200 day moving average of $32.44. The firm’s market cap is $843.56 million. IMPINJ has a one year low of $16.36 and a one year high of $43.93.
IMPINJ (NYSE:PI) last posted its quarterly earnings data on Thursday, May 4th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.01) by $0.02. The firm had revenue of $31.70 million for the quarter, compared to the consensus estimate of $30.81 million. The company’s revenue was up 46.8% on a year-over-year basis. Analysts expect that IMPINJ will post $0.24 EPS for the current fiscal year.
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In related news, insider Eric Brodersen sold 5,400 shares of the stock in a transaction on Wednesday, March 22nd. The shares were sold at an average price of $28.36, for a total transaction of $153,144.00. Following the sale, the insider now directly owns 136,343 shares of the company’s stock, valued at $3,866,687.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Oppen Peter H. Van sold 25,000 shares of the stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $39.25, for a total transaction of $981,250.00. Following the sale, the director now directly owns 80,595 shares in the company, valued at $3,163,353.75. The disclosure for this sale can be found here. Insiders have sold 63,207 shares of company stock worth $2,331,581 over the last three months.
Large investors have recently modified their holdings of the stock. American International Group Inc. acquired a new stake in shares of IMPINJ during the first quarter worth approximately $112,000. First Washington CORP acquired a new stake in shares of IMPINJ during the first quarter worth approximately $122,000. Nordea Investment Management AB acquired a new stake in shares of IMPINJ during the first quarter worth approximately $127,000. ClariVest Asset Management LLC acquired a new stake in shares of IMPINJ during the first quarter worth approximately $127,000. Finally, Wells Fargo & Company MN acquired a new stake in shares of IMPINJ during the third quarter worth approximately $141,000.
Impinj, Inc is a provider of RAIN radio frequency identification (RFID) solutions. The Company sells a platform that includes endpoint integrated circuits (ICs), reader ICs, readers and gateways that enable wireless connectivity to everyday items, and software that delivers Item Intelligence from endpoint reads.
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