$44.05 Million in Sales Expected for Impinj, Inc. (NASDAQ:PI) This Quarter

Wall Street brokerages predict that Impinj, Inc. (NASDAQ:PI) will report sales of $44.05 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Impinj’s earnings, with the lowest sales estimate coming in at $43.60 million and the highest estimate coming in at $44.50 million. Impinj reported sales of $28.20 million in the same quarter last year, which indicates a positive year over year growth rate of 56.2%. The company is scheduled to report its next quarterly earnings results on Wednesday, October 27th.

On average, analysts expect that Impinj will report full-year sales of $180.95 million for the current fiscal year, with estimates ranging from $180.80 million to $181.10 million. For the next financial year, analysts expect that the business will report sales of $215.30 million, with estimates ranging from $212.10 million to $218.50 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Impinj.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, July 28th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.50. The firm had revenue of $47.27 million during the quarter, compared to analysts’ expectations of $42.55 million. Impinj had a negative net margin of 30.79% and a negative return on equity of 41.67%.

Several research firms have recently issued reports on PI. Needham & Company LLC lowered their price objective on Impinj from $66.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, July 29th. Zacks Investment Research downgraded Impinj from a “hold” rating to a “sell” rating in a research note on Thursday, July 29th. Finally, Piper Sandler lowered their price objective on Impinj from $74.00 to $60.00 and set an “overweight” rating for the company in a research note on Thursday, July 29th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $64.50.

In other Impinj news, CEO Chris Ph.D. Diorio sold 601 shares of the stock in a transaction that occurred on Thursday, September 16th. The shares were sold at an average price of $55.69, for a total transaction of $33,469.69. Following the completion of the sale, the chief executive officer now owns 294,719 shares of the company’s stock, valued at approximately $16,412,901.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Jeffrey Dossett sold 722 shares of the stock in a transaction that occurred on Thursday, September 16th. The shares were sold at an average price of $55.65, for a total transaction of $40,179.30. The disclosure for this sale can be found here. Insiders have sold a total of 9,567 shares of company stock valued at $546,205 in the last three months. Insiders own 24.70% of the company’s stock.

Several hedge funds have recently made changes to their positions in PI. UBS Asset Management Americas Inc. lifted its holdings in shares of Impinj by 3,153.3% in the 1st quarter. UBS Asset Management Americas Inc. now owns 494,506 shares of the company’s stock worth $28,123,000 after purchasing an additional 479,306 shares in the last quarter. Lord Abbett & CO. LLC bought a new position in shares of Impinj in the 1st quarter worth $12,365,000. Fred Alger Management LLC lifted its holdings in shares of Impinj by 32.3% in the 1st quarter. Fred Alger Management LLC now owns 791,699 shares of the company’s stock worth $45,024,000 after purchasing an additional 193,410 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its holdings in shares of Impinj by 66.5% in the 1st quarter. D. E. Shaw & Co. Inc. now owns 482,604 shares of the company’s stock worth $27,445,000 after purchasing an additional 192,726 shares in the last quarter. Finally, Axel Capital Management LLC lifted its holdings in shares of Impinj by 422.5% in the 1st quarter. Axel Capital Management LLC now owns 209,000 shares of the company’s stock worth $11,886,000 after purchasing an additional 169,000 shares in the last quarter. 86.98% of the stock is owned by institutional investors.

PI stock opened at $55.72 on Wednesday. The stock has a market capitalization of $1.35 billion, a P/E ratio of -26.79 and a beta of 2.36. Impinj has a 12 month low of $24.36 and a 12 month high of $79.05. The firm has a 50-day moving average price of $50.54 and a 200-day moving average price of $51.76.

Impinj Company Profile

IImpinj, Inc engages in the development and sale of RAIN, a radio frequency identification solution. Its platform allows inventory management, patient safety, asset tracking and item authentication for the retail, healthcare, supply chain and logistics, hospitality, food and beverage, and industrial manufacturing industries.

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