IMPINJ Inc (NYSE:PI) has been given a consensus rating of “Buy” by the nine brokerages that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $47.71.

Several equities analysts have recently commented on the stock. KeyCorp reaffirmed a “hold” rating on shares of IMPINJ in a research report on Wednesday, August 23rd. Dougherty & Co assumed coverage on shares of IMPINJ in a research report on Wednesday, August 23rd. They set a “buy” rating and a $62.00 price target on the stock. Zacks Investment Research cut shares of IMPINJ from a “hold” rating to a “sell” rating in a research report on Wednesday, August 9th. Royal Bank Of Canada reduced their price target on shares of IMPINJ from $59.00 to $50.00 and set an “outperform” rating on the stock in a research report on Friday, August 4th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $50.00 price target (down previously from $57.00) on shares of IMPINJ in a research report on Friday, August 4th.

IMPINJ (NYSE PI) traded up 2.07% on Wednesday, hitting $37.03. The stock had a trading volume of 521,453 shares. The company’s market cap is $772.45 million. IMPINJ has a 52-week low of $19.55 and a 52-week high of $60.85. The firm’s 50-day moving average is $43.73 and its 200-day moving average is $39.36.

IMPINJ (NYSE:PI) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. IMPINJ had a negative net margin of 2.86% and a negative return on equity of 3.11%. The business had revenue of $34.10 million for the quarter, compared to analysts’ expectations of $33.41 million. During the same quarter last year, the company posted $0.06 earnings per share. The company’s quarterly revenue was up 31.2% compared to the same quarter last year. Equities research analysts anticipate that IMPINJ will post $0.06 earnings per share for the current fiscal year.

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In other IMPINJ news, CFO Evan Fein sold 9,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $43.68, for a total value of $393,120.00. Following the transaction, the chief financial officer now owns 19,000 shares of the company’s stock, valued at $829,920. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric Brodersen sold 7,000 shares of the firm’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $46.93, for a total transaction of $328,510.00. Following the completion of the transaction, the insider now directly owns 115,043 shares in the company, valued at approximately $5,398,967.99. The disclosure for this sale can be found here. Insiders have sold 47,000 shares of company stock worth $2,188,135 in the last ninety days.

Institutional investors have recently modified their holdings of the company. Baird Financial Group Inc. acquired a new position in shares of IMPINJ during the first quarter worth about $487,000. Nordea Investment Management AB acquired a new position in shares of IMPINJ during the first quarter worth about $127,000. Columbus Circle Investors purchased a new stake in shares of IMPINJ during the second quarter valued at approximately $3,382,000. State Street Corp raised its stake in shares of IMPINJ by 23.5% in the fourth quarter. State Street Corp now owns 86,778 shares of the company’s stock valued at $3,069,000 after buying an additional 16,506 shares during the last quarter. Finally, First Mercantile Trust Co. purchased a new stake in shares of IMPINJ during the second quarter valued at approximately $178,000.

About IMPINJ

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.

Analyst Recommendations for IMPINJ (NYSE:PI)

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