Zacks Investment Research upgraded shares of Impinj (NASDAQ:PI) from a strong sell rating to a hold rating in a research note published on Thursday morning.

According to Zacks, “Impinj, Inc. is a provider of referral and information network radio frequency identification solutions to the retail, pharmaceutical, healthcare, food and beverage and other industries. The company’s products include Indy Reader Chips which consists of integrated radio chips and supporting SDKs; Monza Tag Chips, which deliver memory options and extended features to RFID tags and Speedway fixed RFID readers and antennas for RFID-based information. Impinj, Inc. is based in Seattle, Washington. “

A number of other research analysts have also weighed in on the company. Needham & Company LLC restated a buy rating and set a $34.00 price objective (down previously from $45.00) on shares of Impinj in a research report on Thursday, November 2nd. Morgan Stanley dropped their price target on Impinj from $37.00 to $29.00 and set an equal weight rating for the company in a research report on Thursday, November 2nd. Royal Bank of Canada dropped their price target on Impinj from $50.00 to $41.00 and set an outperform rating for the company in a research report on Thursday, November 2nd. Dougherty & Co dropped their price target on Impinj from $62.00 to $42.00 and set a buy rating for the company in a research report on Thursday, November 2nd. Finally, Canaccord Genuity reiterated a buy rating and issued a $35.00 price target (down previously from $50.00) on shares of Impinj in a research report on Thursday, November 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. Impinj presently has an average rating of Hold and a consensus price target of $36.33.

Shares of Impinj (NASDAQ PI) traded down $0.64 during trading on Thursday, hitting $23.37. The stock had a trading volume of 525,062 shares, compared to its average volume of 461,380. The stock has a market capitalization of $489.80 and a price-to-earnings ratio of -61.50. The company has a current ratio of 7.49, a quick ratio of 4.97 and a debt-to-equity ratio of 0.06. Impinj has a 52-week low of $19.97 and a 52-week high of $60.85.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, November 1st. The company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.04). The firm had revenue of $32.60 million for the quarter, compared to analysts’ expectations of $32.58 million. Impinj had a negative net margin of 5.97% and a negative return on equity of 1.15%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.10 EPS. sell-side analysts forecast that Impinj will post -0.41 earnings per share for the current fiscal year.

In other Impinj news, Director Clinton Bybee bought 4,000 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was acquired at an average price of $24.43 per share, for a total transaction of $97,720.00. Following the completion of the transaction, the director now directly owns 4,417 shares of the company’s stock, valued at $107,907.31. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Evan Fein sold 3,300 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $25.19, for a total value of $83,127.00. Following the transaction, the chief financial officer now owns 15,100 shares of the company’s stock, valued at approximately $380,369. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,700 shares of company stock valued at $478,399. 15.20% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the business. Pier 88 Investment Partners LLC boosted its position in shares of Impinj by 98.0% during the third quarter. Pier 88 Investment Partners LLC now owns 7,678 shares of the company’s stock valued at $319,000 after buying an additional 3,800 shares during the period. Victory Capital Management Inc. purchased a new position in shares of Impinj during the third quarter valued at approximately $1,453,000. Voya Investment Management LLC purchased a new position in shares of Impinj during the second quarter valued at approximately $406,000. California State Teachers Retirement System boosted its position in shares of Impinj by 157.3% during the second quarter. California State Teachers Retirement System now owns 31,900 shares of the company’s stock valued at $1,552,000 after buying an additional 19,500 shares during the period. Finally, Wells Fargo & Company MN boosted its position in shares of Impinj by 137.8% during the second quarter. Wells Fargo & Company MN now owns 17,098 shares of the company’s stock valued at $832,000 after buying an additional 9,909 shares during the period. Institutional investors and hedge funds own 82.69% of the company’s stock.

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Impinj Company Profile

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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