Impinj (NASDAQ:PI) Stock Rating Reaffirmed by Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Impinj (NASDAQ:PI) in a research report released on Thursday morning, Benzinga reports. They currently have a $195.00 target price on the stock.

A number of other equities analysts also recently commented on PI. StockNews.com downgraded Impinj from a hold rating to a sell rating in a report on Tuesday, May 21st. The Goldman Sachs Group downgraded Impinj from a buy rating to a neutral rating and set a $156.00 target price for the company. in a report on Monday, May 20th. Jefferies Financial Group initiated coverage on Impinj in a report on Monday, May 13th. They set a buy rating and a $200.00 target price for the company. Cantor Fitzgerald began coverage on Impinj in a report on Thursday, July 18th. They set an overweight rating and a $205.00 target price for the company. Finally, Piper Sandler upped their price target on Impinj from $150.00 to $180.00 and gave the stock an overweight rating in a research note on Thursday, July 11th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $187.10.

Impinj Trading Up 0.5 %

Shares of PI stock opened at $160.06 on Thursday. Impinj has a fifty-two week low of $48.39 and a fifty-two week high of $181.88. The stock has a 50 day moving average price of $160.69 and a two-hundred day moving average price of $134.27.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.09. The company had revenue of $102.50 million during the quarter, compared to the consensus estimate of $97.47 million. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The firm’s revenue for the quarter was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.14) earnings per share. On average, analysts predict that Impinj will post 0.12 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Cary Baker sold 10,000 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $159.08, for a total value of $1,590,800.00. Following the sale, the chief financial officer now directly owns 67,948 shares of the company’s stock, valued at $10,809,167.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CEO Chris Ph.D. Diorio sold 5,000 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $146.49, for a total value of $732,450.00. Following the sale, the chief executive officer now directly owns 286,230 shares of the company’s stock, valued at $41,929,832.70. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Cary Baker sold 10,000 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $159.08, for a total value of $1,590,800.00. Following the completion of the sale, the chief financial officer now directly owns 67,948 shares in the company, valued at $10,809,167.84. The disclosure for this sale can be found here. Insiders have sold a total of 1,049,835 shares of company stock valued at $160,809,437 over the last ninety days. Company insiders own 51.00% of the company’s stock.

Institutional Investors Weigh In On Impinj

Several institutional investors have recently modified their holdings of the business. K.J. Harrison & Partners Inc boosted its position in shares of Impinj by 102.6% during the second quarter. K.J. Harrison & Partners Inc now owns 23,700 shares of the company’s stock valued at $3,715,000 after buying an additional 12,000 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Impinj by 6.6% during the second quarter. Bank of New York Mellon Corp now owns 121,159 shares of the company’s stock valued at $18,994,000 after buying an additional 7,496 shares during the last quarter. Raymond James & Associates boosted its position in shares of Impinj by 30.2% during the second quarter. Raymond James & Associates now owns 18,861 shares of the company’s stock valued at $2,957,000 after buying an additional 4,373 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in Impinj in the second quarter valued at about $103,252,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in Impinj in the second quarter valued at about $566,000.

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.