Susquehanna Raises Impinj (NASDAQ:PI) Price Target to $140.00

Impinj (NASDAQ:PI) had its price objective hoisted by Susquehanna from $130.00 to $140.00 in a report released on Tuesday morning, Benzinga reports. Susquehanna currently has a positive rating on the stock.

PI has been the subject of several other reports. The Goldman Sachs Group increased their price objective on shares of Impinj from $89.00 to $115.00 and gave the company a buy rating in a report on Friday, February 9th. Canaccord Genuity Group raised their target price on shares of Impinj from $130.00 to $150.00 and gave the stock a buy rating in a report on Thursday, March 14th. StockNews.com upgraded shares of Impinj to a sell rating in a report on Friday, February 9th. Needham & Company LLC raised their target price on shares of Impinj from $120.00 to $130.00 and gave the stock a buy rating in a report on Thursday, March 14th. Finally, Evercore ISI began coverage on shares of Impinj in a report on Tuesday, April 16th. They set an outperform rating and a $160.00 target price for the company. Two equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and a consensus price target of $128.33.

Impinj Price Performance

Impinj stock opened at $155.55 on Tuesday. The firm has a 50 day simple moving average of $118.27 and a 200-day simple moving average of $94.35. The company has a current ratio of 8.73, a quick ratio of 5.59 and a debt-to-equity ratio of 8.26. Impinj has a 12-month low of $48.39 and a 12-month high of $156.41.

Impinj (NASDAQ:PI) last posted its quarterly earnings data on Wednesday, April 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.31) by $0.14. The business had revenue of $76.83 million during the quarter, compared to analysts’ expectations of $73.57 million. Impinj had a negative net margin of 1.90% and a negative return on equity of 81.75%. Equities analysts anticipate that Impinj will post -0.62 earnings per share for the current year.

Insider Buying and Selling

In other Impinj news, insider Cathal G. Phelan sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $106.23, for a total value of $1,062,300.00. Following the completion of the sale, the insider now owns 21,750 shares in the company, valued at approximately $2,310,502.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Impinj news, CFO Cary Baker sold 1,062 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $127.61, for a total value of $135,521.82. Following the completion of the sale, the chief financial officer now owns 67,384 shares in the company, valued at approximately $8,598,872.24. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Cathal G. Phelan sold 10,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $106.23, for a total transaction of $1,062,300.00. Following the completion of the sale, the insider now owns 21,750 shares of the company’s stock, valued at approximately $2,310,502.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 120,185 shares of company stock valued at $12,767,674. Company insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Impinj

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC bought a new position in shares of Impinj during the 1st quarter valued at $32,000. GAMMA Investing LLC bought a new position in shares of Impinj during the 4th quarter valued at $40,000. Newbridge Financial Services Group Inc. bought a new position in shares of Impinj during the 3rd quarter valued at $55,000. Headlands Technologies LLC acquired a new position in Impinj in the 4th quarter valued at $58,000. Finally, Asset Management One Co. Ltd. grew its stake in Impinj by 74.6% in the 3rd quarter. Asset Management One Co. Ltd. now owns 1,226 shares of the company’s stock valued at $67,000 after buying an additional 524 shares during 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.