Brokerages Set Impinj, Inc. (NASDAQ:PI) Target Price at $187.10

Impinj, Inc. (NASDAQ:PI) has been given an average recommendation of “Moderate Buy” by the ten ratings firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $187.10.

A number of brokerages recently weighed in on PI. Piper Sandler raised their price target on shares of Impinj from $150.00 to $180.00 and gave the company an “overweight” rating in a report on Thursday, July 11th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $205.00 price target on shares of Impinj in a report on Thursday, July 25th. The Goldman Sachs Group cut Impinj from a “buy” rating to a “neutral” rating and set a $156.00 price objective for the company. in a report on Monday, May 20th. Lake Street Capital raised their target price on shares of Impinj from $155.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, StockNews.com raised shares of Impinj from a “sell” rating to a “hold” rating in a research note on Friday, July 26th.

Impinj Price Performance

Shares of NASDAQ:PI opened at $180.62 on Monday. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of -516.06 and a beta of 1.78. The business’s fifty day moving average price is $161.61 and its two-hundred day moving average price is $148.14. Impinj has a fifty-two week low of $48.39 and a fifty-two week high of $183.00.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The firm had revenue of $102.50 million for the quarter, compared to analyst estimates of $97.47 million. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.14) earnings per share. Research analysts expect that Impinj will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling at Impinj

In related news, insider Cathal G. Phelan sold 677 shares of the stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $162.46, for a total transaction of $109,985.42. Following the completion of the transaction, the insider now owns 17,367 shares in the company, valued at $2,821,442.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Cathal G. Phelan sold 677 shares of the company’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $162.46, for a total transaction of $109,985.42. Following the sale, the insider now owns 17,367 shares in the company, valued at $2,821,442.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cathal G. Phelan sold 212 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $147.52, for a total value of $31,274.24. Following the transaction, the insider now directly owns 16,669 shares of the company’s stock, valued at $2,459,010.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 43,304 shares of company stock worth $6,751,133. Corporate insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. New York State Common Retirement Fund lifted its holdings in Impinj by 15.4% during the 4th quarter. New York State Common Retirement Fund now owns 11,754 shares of the company’s stock valued at $1,058,000 after purchasing an additional 1,566 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Impinj by 12.3% during the 4th quarter. Victory Capital Management Inc. now owns 24,945 shares of the company’s stock worth $2,246,000 after buying an additional 2,725 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Impinj by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 180,847 shares of the company’s stock worth $16,282,000 after buying an additional 6,810 shares during the period. Level Four Advisory Services LLC acquired a new position in Impinj in the 4th quarter valued at about $478,000. Finally, UBS Group AG grew its stake in Impinj by 0.7% in the 4th quarter. UBS Group AG now owns 91,409 shares of the company’s stock valued at $8,230,000 after buying an additional 637 shares during the last quarter.

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.