Impinj (NASDAQ:PI) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Impinj (NASDAQ:PI) from a sell rating to a hold rating in a research note issued to investors on Friday.

Several other analysts also recently weighed in on PI. 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. The Goldman Sachs Group boosted their target price on Impinj from $130.00 to $156.00 and gave the company a buy rating in a report on Friday. Roth Mkm boosted their target price on Impinj from $125.00 to $145.00 and gave the company a buy rating in a report on Thursday. Evercore ISI started 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, Canaccord Genuity Group boosted their target price on Impinj from $130.00 to $150.00 and gave the company a buy rating in a report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $132.89.

Impinj Price Performance

NASDAQ:PI opened at $150.91 on Friday. The stock has a fifty day moving average price of $119.23 and a 200 day moving average price of $95.02. Impinj has a 12-month low of $48.39 and a 12-month high of $156.41. The company has a current ratio of 9.42, a quick ratio of 5.59 and a debt-to-equity ratio of 3.29.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.14. The company had revenue of $76.83 million during the quarter, compared to the consensus estimate of $73.57 million. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. Equities analysts expect that Impinj will post -0.62 earnings per share for the current fiscal year.

Insider Activity at Impinj

In related news, COO Hussein Mecklai sold 30,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $104.80, for a total value of $3,144,000.00. Following the transaction, the chief operating officer now owns 40,489 shares in the company, valued at approximately $4,243,247.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Impinj news, CFO Cary Baker sold 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 14th. The stock was sold at an average price of $102.14, for a total transaction of $2,042,800.00. Following the transaction, the chief financial officer now owns 55,432 shares in the company, valued at approximately $5,661,824.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Hussein Mecklai sold 30,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $104.80, for a total value of $3,144,000.00. Following the transaction, the chief operating officer now owns 40,489 shares in the company, valued at approximately $4,243,247.20. The disclosure for this sale can be found here. Insiders have sold 120,185 shares of company stock worth $12,767,674 in the last quarter. Company insiders own 17.10% of the company’s stock.

Hedge Funds Weigh In On Impinj

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sylebra Capital LLC acquired a new stake in shares of Impinj in the 3rd quarter worth approximately $217,290,000. Capital International Investors acquired a new stake in shares of Impinj in the 4th quarter worth approximately $68,211,000. Fred Alger Management LLC grew its holdings in shares of Impinj by 249.6% in the 3rd quarter. Fred Alger Management LLC now owns 795,973 shares of the company’s stock worth $43,802,000 after acquiring an additional 568,301 shares during the period. Westfield Capital Management Co. LP grew its holdings in shares of Impinj by 40.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,022,359 shares of the company’s stock worth $56,260,000 after acquiring an additional 292,470 shares during the period. Finally, Sora Investors LLC acquired a new stake in shares of Impinj in the 3rd quarter worth approximately $9,080,000.

Impinj Company Profile

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.