Impinj, Inc. (NASDAQ:PI) Given Consensus Rating of “Moderate Buy” by Brokerages

Impinj, Inc. (NASDAQ:PI) has earned a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation and six have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $119.44.

PI has been the topic of a number of recent research reports. Needham & Company LLC raised their price target on shares of Impinj from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Evercore ISI initiated coverage on shares of Impinj in a research report on Tuesday. They issued an “outperform” rating and a $160.00 price target on the stock. Roth Mkm raised their price target on shares of Impinj from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Susquehanna raised their price target on shares of Impinj from $115.00 to $130.00 and gave the stock a “positive” rating in a research report on Friday, February 9th. Finally, StockNews.com upgraded shares of Impinj to a “sell” rating in a research report on Friday, February 9th.

Impinj Stock Up 1.7 %

Shares of PI stock opened at $122.08 on Friday. The company has a debt-to-equity ratio of 8.26, a current ratio of 8.73 and a quick ratio of 5.59. Impinj has a 1-year low of $48.39 and a 1-year high of $142.70. The firm has a fifty day moving average of $116.17 and a two-hundred day moving average of $91.72.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Thursday, February 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.11. Impinj had a negative net margin of 14.10% and a negative return on equity of 74.70%. The company had revenue of $70.65 million for the quarter, compared to the consensus estimate of $67.10 million. On average, sell-side analysts anticipate that Impinj will post -0.62 EPS for the current fiscal year.

Insider Activity at Impinj

In other news, CFO Cary Baker sold 306 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $123.55, for a total transaction of $37,806.30. Following the sale, the chief financial officer now owns 65,748 shares in the company, valued at $8,123,165.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Chris Ph.D. Diorio sold 16,060 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $101.16, for a total transaction of $1,624,629.60. Following the sale, the chief executive officer now owns 278,863 shares in the company, valued at $28,209,781.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Cary Baker sold 306 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $123.55, for a total transaction of $37,806.30. Following the sale, the chief financial officer now owns 65,748 shares in the company, valued at approximately $8,123,165.40. The disclosure for this sale can be found here. Insiders have sold a total of 120,185 shares of company stock worth $12,767,674 in the last ninety days. 17.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Impinj

A number of large investors have recently made changes to their positions in PI. Charles Schwab Investment Management Inc. grew its position in Impinj by 4.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 174,037 shares of the company’s stock valued at $9,577,000 after purchasing an additional 8,038 shares in the last quarter. Aigen Investment Management LP purchased a new position in Impinj during the third quarter valued at approximately $320,000. FMR LLC grew its position in Impinj by 0.8% during the third quarter. FMR LLC now owns 4,028,894 shares of the company’s stock valued at $221,710,000 after purchasing an additional 31,289 shares in the last quarter. AWM Investment Company Inc. grew its position in Impinj by 9.5% during the third quarter. AWM Investment Company Inc. now owns 365,428 shares of the company’s stock valued at $20,110,000 after purchasing an additional 31,556 shares in the last quarter. Finally, Toronado Partners LLC grew its position in Impinj by 8.8% during the third quarter. Toronado Partners LLC now owns 355,825 shares of the company’s stock valued at $19,581,000 after purchasing an additional 28,700 shares in the last quarter.

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.