Analysts Anticipate Impinj, Inc. (NASDAQ:PI) to Announce -$0.12 Earnings Per Share

Equities research analysts expect Impinj, Inc. (NASDAQ:PI) to announce earnings per share (EPS) of ($0.12) for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Impinj’s earnings, with the highest EPS estimate coming in at ($0.11) and the lowest estimate coming in at ($0.14). Impinj posted earnings per share of $0.13 during the same quarter last year, which indicates a negative year over year growth rate of 192.3%. The firm is scheduled to issue its next earnings results on Monday, April 26th.

According to Zacks, analysts expect that Impinj will report full-year earnings of ($0.27) per share for the current financial year, with EPS estimates ranging from ($0.35) to ($0.21). For the next fiscal year, analysts expect that the firm will report earnings of $0.26 per share, with EPS estimates ranging from $0.04 to $0.54. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Impinj.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, February 10th. The company reported ($0.15) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.07. The firm had revenue of $36.45 million for the quarter, compared to analyst estimates of $36.32 million. Impinj had a negative return on equity of 26.61% and a negative net margin of 30.63%. The business’s quarterly revenue was down 10.7% compared to the same quarter last year. During the same period last year, the company earned $0.03 EPS.

Several equities research analysts recently weighed in on PI shares. Roth Capital lifted their price target on Impinj from $31.00 to $74.00 and gave the company a “buy” rating in a research report on Thursday, February 11th. Colliers Securities lifted their price objective on Impinj from $61.00 to $82.00 in a research note on Thursday, February 11th. Zacks Investment Research cut Impinj from a “buy” rating to a “hold” rating in a research note on Wednesday, January 20th. Piper Sandler upped their price objective on Impinj from $60.00 to $80.00 and gave the company an “overweight” rating in a research report on Thursday, February 11th. Finally, Needham & Company LLC boosted their price target on Impinj from $61.00 to $77.00 and gave the company a “buy” rating in a report on Thursday, February 11th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Impinj currently has an average rating of “Buy” and a consensus price target of $70.38.

In related news, Director Oppen Peter H. Van sold 25,000 shares of Impinj stock in a transaction dated Wednesday, February 17th. The stock was sold at an average price of $70.60, for a total value of $1,765,000.00. Following the sale, the director now directly owns 43,617 shares in the company, valued at approximately $3,079,360.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Chris Ph.D. Diorio sold 10,000 shares of Impinj stock in a transaction dated Monday, January 11th. The stock was sold at an average price of $50.00, for a total value of $500,000.00. Following the completion of the sale, the chief executive officer now owns 273,227 shares in the company, valued at $13,661,350. The disclosure for this sale can be found here. Insiders sold a total of 46,984 shares of company stock valued at $2,922,905 in the last 90 days. 25.70% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. Garde Capital Inc. purchased a new stake in shares of Impinj during the 4th quarter valued at approximately $112,000. Citigroup Inc. increased its position in shares of Impinj by 243.5% during the fourth quarter. Citigroup Inc. now owns 3,476 shares of the company’s stock worth $146,000 after acquiring an additional 2,464 shares during the period. Fortis Group Advisors LLC purchased a new stake in shares of Impinj during the third quarter worth $158,000. Arizona State Retirement System acquired a new position in shares of Impinj during the fourth quarter worth $208,000. Finally, XR Securities LLC acquired a new position in shares of Impinj during the fourth quarter worth $239,000. 85.57% of the stock is currently owned by hedge funds and other institutional investors.

Shares of PI stock traded up $1.32 during trading hours on Friday, reaching $55.51. The company’s stock had a trading volume of 3,332 shares, compared to its average volume of 347,059. The stock has a market capitalization of $1.30 billion, a P/E ratio of -27.91 and a beta of 2.56. Impinj has a one year low of $15.07 and a one year high of $79.05. The firm’s fifty day simple moving average is $60.62 and its 200 day simple moving average is $45.76. The company has a current ratio of 8.38, a quick ratio of 6.44 and a debt-to-equity ratio of 0.49.

Impinj Company Profile

Impinj, Inc operates a cloud connectivity platform. Its platform, which comprises multiple product families, wirelessly connects individual 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.

Read More: Understanding Price to Earnings Ratio (PE)

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