Impinj (NASDAQ:PI) Price Target Raised to $180.00 at Piper Sandler

Impinj (NASDAQ:PI) had its target price lifted by Piper Sandler from $150.00 to $180.00 in a research note issued to investors on Thursday, Marketbeat reports. The firm currently has an overweight rating on the stock.

Several other equities research analysts have also commented on PI. The Goldman Sachs Group lowered Impinj from a buy rating to a neutral rating and set a $156.00 price objective on the stock. in a research report on Monday, May 20th. Roth Mkm increased their target price on Impinj from $125.00 to $145.00 and gave the company a buy rating in a research report on Thursday, April 25th. Susquehanna increased their target price on Impinj from $130.00 to $140.00 and gave the company a positive rating in a research report on Tuesday, April 23rd. Evercore ISI initiated coverage on Impinj in a research report on Tuesday, April 16th. They set an outperform rating and a $160.00 target price on the stock. Finally, Jefferies Financial Group initiated coverage on Impinj in a research report on Monday, May 13th. They set a buy rating and a $200.00 target price on the stock. One 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $157.33.

Impinj Trading Up 3.1 %

Shares of NASDAQ PI opened at $167.41 on Thursday. The business’s 50 day moving average price is $159.91 and its 200 day moving average price is $127.65. Impinj has a 52 week low of $48.39 and a 52 week high of $175.41. The company has a current ratio of 9.42, a quick ratio of 6.87 and a debt-to-equity ratio of 3.29.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, April 24th. The company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.31) by $0.14. Impinj had a negative return on equity of 60.13% and a negative net margin of 1.90%. The business had revenue of $76.83 million for the quarter, compared to analyst estimates of $73.57 million. On average, equities analysts predict that Impinj will post 0.02 EPS for the current fiscal year.

Insiders Place Their Bets

In other Impinj news, COO Hussein Mecklai sold 435 shares of the firm’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $118.75, for a total value of $51,656.25. Following the completion of the sale, the chief operating officer now directly owns 55,414 shares of the company’s stock, valued at approximately $6,580,412.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO Hussein Mecklai sold 435 shares of the stock in a transaction on Monday, April 15th. The stock was sold at an average price of $118.75, for a total transaction of $51,656.25. Following the completion of the transaction, the chief operating officer now directly owns 55,414 shares in the company, valued at approximately $6,580,412.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Umesh Padval sold 3,475 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $151.39, for a total value of $526,080.25. Following the transaction, the director now owns 3,529 shares of the company’s stock, valued at $534,255.31. The disclosure for this sale can be found here. Insiders sold 1,098,088 shares of company stock valued at $167,776,596 in the last three months. 51.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Impinj

Hedge funds and other institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in Impinj by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 180,847 shares of the company’s stock valued at $16,282,000 after acquiring an additional 6,810 shares during the period. K.J. Harrison & Partners Inc purchased a new position in shares of Impinj in the 4th quarter valued at about $1,458,000. Ghisallo Capital Management LLC purchased a new position in shares of Impinj in the 4th quarter valued at about $4,192,000. Eagle Asset Management Inc. boosted its stake in shares of Impinj by 19.6% in the 4th quarter. Eagle Asset Management Inc. now owns 204,767 shares of the company’s stock valued at $18,435,000 after buying an additional 33,504 shares during the period. Finally, Lisanti Capital Growth LLC purchased a new position in shares of Impinj in the 4th quarter valued at about $5,739,000.

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.