Impinj (NASDAQ:PI) Upgraded to “Hold” at StockNews.com

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

Several other equities research analysts have also recently issued reports on PI. Piper Sandler reiterated an overweight rating and set a $150.00 price objective (up previously from $130.00) on shares of Impinj in a research report on Thursday, April 25th. Evercore ISI started coverage on shares of Impinj in a research report on Tuesday, April 16th. They set an outperform rating and a $160.00 price objective on the stock. The Goldman Sachs Group lifted their price objective on shares of Impinj from $130.00 to $156.00 and gave the company a buy rating in a research report on Friday. Roth Mkm lifted their price objective on shares of Impinj from $125.00 to $145.00 and gave the company a buy rating in a research report on Thursday, April 25th. Finally, Needham & Company LLC lifted their price objective on shares of Impinj from $130.00 to $160.00 and gave the company a buy rating in a research report on Thursday, April 25th. One 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’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $132.89.

Impinj Price Performance

Shares of NASDAQ:PI opened at $157.45 on Friday. The company has a debt-to-equity ratio of 3.29, a current ratio of 9.42 and a quick ratio of 6.87. Impinj has a 1-year low of $48.39 and a 1-year high of $159.62. The company has a market capitalization of $4.36 billion, a P/E ratio of -449.86 and a beta of 2.05. The firm’s 50 day simple moving average is $120.33 and its two-hundred day simple moving average is $96.31.

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

Insiders Place Their Bets

In other news, insider Cathal G. Phelan sold 10,000 shares of the business’s stock in a transaction on 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 completion of the sale, the insider now directly owns 21,750 shares of the company’s stock, valued at $2,310,502.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Cathal G. Phelan sold 2,556 shares of the company’s stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $98.88, for a total value of $252,737.28. Following the completion of the sale, the insider now directly owns 24,990 shares of the company’s stock, valued at $2,471,011.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Cathal G. Phelan sold 10,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $106.23, for a total transaction of $1,062,300.00. Following the completion of the sale, the insider now directly owns 21,750 shares of the company’s stock, valued at $2,310,502.50. The disclosure for this sale can be found here. Insiders sold 120,185 shares of company stock valued at $12,767,674 over the last three months. 17.10% of the stock is owned by company insiders.

Institutional Trading of Impinj

A number of hedge funds have recently added to or reduced their stakes in the business. Future Financial Wealth Managment LLC bought a new position in Impinj in the first quarter worth about $32,000. GAMMA Investing LLC bought a new position in Impinj in the fourth quarter worth about $40,000. Headlands Technologies LLC bought a new position in Impinj in the fourth quarter worth about $58,000. Benjamin F. Edwards & Company Inc. raised its holdings in Impinj by 117.9% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock worth $124,000 after purchasing an additional 521 shares in the last quarter. Finally, Whittier Trust Co. bought a new position in Impinj in the fourth quarter worth about $90,000.

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.