Impinj (NASDAQ:PI) Updates Q2 Earnings Guidance

Impinj (NASDAQ:PI) updated its second quarter earnings guidance on Wednesday. The company provided earnings per share guidance of $0.72-$0.77 for the period, compared to the consensus earnings per share estimate of $0.19. The company issued revenue guidance of $96.0-$99.0 million, compared to the consensus revenue estimate of $79.04 million.

Impinj Trading Down 2.2 %

Shares of PI traded down $2.77 during mid-day trading on Wednesday, reaching $120.91. The company had a trading volume of 789,820 shares, compared to its average volume of 371,259. Impinj has a 52-week low of $48.39 and a 52-week high of $139.46. The company has a quick ratio of 5.59, a current ratio of 8.73 and a debt-to-equity ratio of 8.26. The stock has a 50 day moving average of $116.94 and a two-hundred day moving average of $93.73.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Thursday, February 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.11. The company had revenue of $70.65 million for the quarter, compared to the consensus estimate of $67.10 million. Impinj had a negative return on equity of 74.70% and a negative net margin of 14.10%. As a group, equities research analysts predict that Impinj will post -0.62 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Needham & Company LLC lifted their target price on Impinj from $120.00 to $130.00 and gave the company a buy rating in a research report on Thursday, March 14th. Canaccord Genuity Group upped their price objective on Impinj from $130.00 to $150.00 and gave the stock a buy rating in a research report on Thursday, March 14th. The Goldman Sachs Group upped their price objective on Impinj from $89.00 to $115.00 and gave the stock a buy rating in a research report on Friday, February 9th. Evercore ISI began coverage on Impinj in a report on Tuesday, April 16th. They issued an outperform rating and a $160.00 target price for the company. Finally, Susquehanna boosted their target price on Impinj from $130.00 to $140.00 and gave the company a positive rating in a report on Tuesday. Two analysts have rated the stock with a sell rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Impinj has an average rating of Moderate Buy and an average target price of $120.56.

Insiders Place Their Bets

In other news, COO Hussein Mecklai sold 435 shares of Impinj stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $118.75, for a total transaction of $51,656.25. Following the sale, the chief operating officer now directly owns 55,414 shares of the company’s stock, valued at $6,580,412.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Cathal G. Phelan sold 10,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $106.23, for a total transaction of $1,062,300.00. Following the transaction, the insider now owns 21,750 shares of the company’s stock, valued at $2,310,502.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Hussein Mecklai sold 435 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $118.75, for a total transaction of $51,656.25. Following the sale, the chief operating officer now owns 55,414 shares of the company’s stock, valued at approximately $6,580,412.50. The disclosure for this sale can be found here. Insiders sold a total of 120,185 shares of company stock worth $12,767,674 in the last 90 days. 17.10% of the stock is owned by company insiders.

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.