IMPINJ Inc (NYSE:PI) had its target price trimmed by Royal Bank Of Canada from $59.00 to $50.00 in a research note published on Friday, August 4th, Marketbeat.com reports. The firm currently has an outperform rating on the stock.
Other equities research analysts also recently issued reports about the company. KeyCorp downgraded IMPINJ to a hold rating in a report on Tuesday, June 27th. Morgan Stanley downgraded IMPINJ from an overweight rating to an equal weight rating and lifted their price objective for the company from $40.00 to $51.00 in a report on Monday, June 19th. Canaccord Genuity reiterated a buy rating and issued a $50.00 target price (down previously from $57.00) on shares of IMPINJ in a research note on Friday, August 4th. Zacks Investment Research cut shares of IMPINJ from a buy rating to a hold rating in a research note on Saturday, May 6th. Finally, Needham & Company LLC lifted their target price on shares of IMPINJ from $40.00 to $55.00 and gave the company a buy rating in a research note on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company. The stock has an average rating of Buy and an average price target of $43.63.
Shares of IMPINJ (NYSE PI) opened at 30.54 on Friday. The firm’s market cap is $637.06 million. IMPINJ has a 52 week low of $19.55 and a 52 week high of $60.85. The firm’s 50-day moving average price is $46.43 and its 200 day moving average price is $39.44.
IMPINJ (NYSE:PI) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The company had revenue of $34.10 million for the quarter, compared to the consensus estimate of $33.41 million. IMPINJ had a negative return on equity of 3.11% and a negative net margin of 2.86%. The company’s quarterly revenue was up 31.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.06 earnings per share. Equities analysts anticipate that IMPINJ will post $0.06 EPS for the current year.
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In other IMPINJ news, insider Eric Brodersen sold 7,000 shares of IMPINJ stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $46.93, for a total transaction of $328,510.00. Following the completion of the sale, the insider now owns 115,043 shares of the company’s stock, valued at approximately $5,398,967.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Evan Fein sold 9,000 shares of IMPINJ stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $43.68, for a total transaction of $393,120.00. Following the sale, the chief financial officer now directly owns 19,000 shares of the company’s stock, valued at approximately $829,920. The disclosure for this sale can be found here. Insiders sold a total of 60,666 shares of company stock valued at $2,876,162 in the last 90 days.
A number of hedge funds have recently added to or reduced their stakes in PI. Sylebra HK Co Ltd purchased a new position in shares of IMPINJ during the first quarter valued at about $88,898,000. Gilder Gagnon Howe & Co. LLC raised its position in shares of IMPINJ by 7.4% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 2,106,879 shares of the company’s stock valued at $102,500,000 after buying an additional 145,201 shares during the period. Bank of New York Mellon Corp raised its position in shares of IMPINJ by 4.0% in the first quarter. Bank of New York Mellon Corp now owns 1,157,558 shares of the company’s stock valued at $35,039,000 after buying an additional 44,403 shares during the period. Hood River Capital Management LLC raised its position in shares of IMPINJ by 30.9% in the second quarter. Hood River Capital Management LLC now owns 731,965 shares of the company’s stock valued at $35,610,000 after buying an additional 172,879 shares during the period. Finally, Alliancebernstein L.P. purchased a new position in shares of IMPINJ during the first quarter valued at about $20,284,000.
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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