IMPINJ Inc (PI) Receives Average Rating of “Buy” from Analysts
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.
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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