Roth Mkm Raises Impinj (NASDAQ:PI) Price Target to $145.00

Impinj (NASDAQ:PI) had its price objective hoisted by Roth Mkm from $125.00 to $145.00 in a report issued on Thursday morning, Benzinga reports. Roth Mkm currently has a buy rating on the stock.

Other analysts have also recently issued reports about the stock. Needham & Company LLC lifted their target price on shares of Impinj from $130.00 to $160.00 and gave the stock a buy rating in a research note on Thursday. StockNews.com upgraded shares of Impinj to a sell rating in a research note on Friday, February 9th. The Goldman Sachs Group raised their target price on Impinj from $89.00 to $115.00 and gave the stock a buy rating in a research note on Friday, February 9th. Canaccord Genuity Group boosted their price target on Impinj from $130.00 to $150.00 and gave the company a buy rating in a research note on Thursday, March 14th. Finally, Susquehanna raised their price objective on Impinj from $130.00 to $140.00 and gave the stock a positive rating in a research note on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average price target of $132.89.

Impinj Price Performance

Shares of PI opened at $150.91 on Thursday. The company has a 50 day moving average of $119.23 and a two-hundred day moving average of $95.58. The company has a market cap of $4.18 billion, a price-to-earnings ratio of -431.17 and a beta of 2.05. The company has a quick ratio of 5.59, a current ratio of 9.42 and a debt-to-equity ratio of 3.29. Impinj has a twelve month low of $48.39 and a twelve month high of $156.41.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share 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 firm had revenue of $76.83 million for the quarter, compared to the consensus estimate of $73.57 million. As a group, analysts predict that Impinj will post -0.62 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Chris Ph.D. Diorio sold 16,060 shares of Impinj stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $101.16, for a total transaction of $1,624,629.60. Following the completion of the transaction, the chief executive officer now directly owns 278,863 shares in the company, valued at $28,209,781.08. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Cary Baker sold 20,000 shares of the firm’s stock in a transaction dated 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 sale, the chief financial officer now directly 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 available through this hyperlink. Also, CEO Chris Ph.D. Diorio sold 16,060 shares of the company’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $101.16, for a total value of $1,624,629.60. Following the completion of the transaction, the chief executive officer now directly owns 278,863 shares of the company’s stock, valued at approximately $28,209,781.08. The disclosure for this sale can be found here. Insiders sold a total of 120,185 shares of company stock valued at $12,767,674 in the last quarter. 17.10% of the stock is currently owned by company insiders.

Institutional Trading of Impinj

A number of institutional investors and hedge funds have recently made changes to their positions in PI. Sylebra Capital LLC purchased a new stake in shares of Impinj during the third quarter worth about $217,290,000. Capital International Investors purchased a new stake in Impinj during the 4th quarter worth approximately $68,211,000. Fred Alger Management LLC raised its holdings in shares of Impinj by 249.6% during the third quarter. Fred Alger Management LLC now owns 795,973 shares of the company’s stock valued at $43,802,000 after acquiring an additional 568,301 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in shares of Impinj by 40.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,022,359 shares of the company’s stock valued at $56,260,000 after acquiring an additional 292,470 shares in the last quarter. Finally, Sora Investors LLC acquired a new stake in shares of Impinj in the third quarter worth approximately $9,080,000.

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.