IMPINJ Inc (NYSE:PI) has earned an average rating of “Buy” from the eight research firms that are covering the company. One analyst has rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $35.29.
Several research firms recently weighed in on PI. Needham & Company LLC reissued a “buy” rating and set a $40.00 price objective (up previously from $32.00) on shares of IMPINJ in a report on Friday, February 17th. Royal Bank of Canada raised their price objective on IMPINJ from $37.00 to $40.00 and gave the company a “buy” rating in a report on Friday, February 17th. Zacks Investment Research downgraded IMPINJ from a “buy” rating to a “hold” rating in a report on Thursday, January 5th. Finally, Morgan Stanley reaffirmed a “buy” rating and set a $40.00 target price on shares of IMPINJ in a report on Tuesday, March 21st.
Shares of IMPINJ (NYSE:PI) traded up 1.60% during mid-day trading on Friday, reaching $36.24. 792,172 shares of the company’s stock traded hands. IMPINJ has a 1-year low of $16.36 and a 1-year high of $41.91. The company’s market capitalization is $745.24 million. The firm has a 50-day moving average price of $29.65 and a 200-day moving average price of $31.08.
IMPINJ (NYSE:PI) last issued its quarterly earnings results on Thursday, February 16th. The company reported $0.11 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.02. The business earned $33.70 million during the quarter, compared to the consensus estimate of $32.39 million. During the same quarter in the previous year, the business posted $0.07 EPS. The company’s revenue for the quarter was up 51.8% on a year-over-year basis. On average, equities research analysts forecast that IMPINJ will post $0.25 earnings per share for the current fiscal year.
In other news, insider Eric Brodersen sold 5,400 shares of the business’s stock in a transaction dated Wednesday, March 22nd. The stock was sold at an average price of $28.36, for a total value of $153,144.00. Following the transaction, the insider now directly owns 136,343 shares of the company’s stock, valued at approximately $3,866,687.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN acquired a new position in shares of IMPINJ during the third quarter worth about $141,000. Capital Asset Advisory Services LLC raised its stake in shares of IMPINJ by 25.8% in the first quarter. Capital Asset Advisory Services LLC now owns 7,310 shares of the company’s stock worth $221,000 after buying an additional 1,500 shares during the last quarter. Brighton Jones LLC purchased a new stake in shares of IMPINJ during the third quarter worth approximately $233,000. Bank of Montreal Can purchased a new stake in shares of IMPINJ during the first quarter worth approximately $245,000. Finally, Hillman Co. purchased a new stake in shares of IMPINJ during the first quarter worth approximately $337,000.
IMPINJ Company Profile
Impinj, Inc is a provider of RAIN radio frequency identification (RFID) solutions. The Company sells a platform that includes endpoint integrated circuits (ICs), reader ICs, readers and gateways that enable wireless connectivity to everyday items, and software that delivers Item Intelligence from endpoint reads.
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