Lake Street Capital Increases Impinj (NASDAQ:PI) Price Target to $190.00

Impinj (NASDAQ:PI) had its price objective boosted by Lake Street Capital from $155.00 to $190.00 in a research note published on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms also recently weighed in on PI. Piper Sandler boosted their target price on Impinj from $150.00 to $180.00 and gave the company an overweight rating in a report on Thursday, July 11th. Needham & Company LLC reiterated a buy rating and issued a $195.00 price objective on shares of Impinj in a research note on Thursday. Roth Mkm raised their target price on shares of Impinj from $145.00 to $175.00 and gave the stock a buy rating in a research report on Thursday. Jefferies Financial Group assumed coverage on shares of Impinj in a research report on Monday, May 13th. They issued a buy rating and a $200.00 price target for the company. Finally, The Goldman Sachs Group downgraded shares of Impinj from a buy rating to a neutral rating and set a $156.00 price objective on the stock. in a research report on Monday, May 20th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and an average target price of $187.10.

Impinj Stock Up 0.5 %

PI stock opened at $160.06 on Thursday. The business has a 50 day moving average price of $160.69 and a 200 day moving average price of $134.63. The stock has a market cap of $4.44 billion, a price-to-earnings ratio of -457.31 and a beta of 1.78. Impinj has a fifty-two week low of $48.39 and a fifty-two week high of $181.88.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.09. The business had revenue of $102.50 million during the quarter, compared to the consensus estimate of $97.47 million. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The company’s revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.14) EPS. As a group, sell-side analysts anticipate that Impinj will post 0.12 EPS for the current year.

Insider Transactions at Impinj

In other news, COO Hussein Mecklai sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $154.38, for a total transaction of $771,900.00. Following the completion of the transaction, the chief operating officer now directly owns 55,414 shares of the company’s stock, valued at approximately $8,554,813.32. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, major shareholder Sylebra Capital Llc sold 1,000,000 shares of the firm’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $153.10, for a total value of $153,100,000.00. Following the completion of the sale, the insider now owns 3,197,352 shares in the company, valued at $489,514,591.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Hussein Mecklai sold 5,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $154.38, for a total transaction of $771,900.00. Following the sale, the chief operating officer now directly owns 55,414 shares in the company, valued at approximately $8,554,813.32. The disclosure for this sale can be found here. Insiders have sold a total of 1,049,835 shares of company stock worth $160,809,437 over the last ninety days. 51.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Impinj

Institutional investors have recently modified their holdings of the company. Charles Schwab Investment Management Inc. lifted its stake in Impinj by 3.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 180,847 shares of the company’s stock valued at $16,282,000 after buying an additional 6,810 shares in the last quarter. K.J. Harrison & Partners Inc acquired a new position in Impinj in the 4th quarter valued at about $1,458,000. Ghisallo Capital Management LLC purchased a new position in shares of Impinj during the fourth quarter valued at approximately $4,192,000. Eagle Asset Management Inc. lifted its stake in shares of Impinj by 19.6% during the 4th quarter. Eagle Asset Management Inc. now owns 204,767 shares of the company’s stock worth $18,435,000 after purchasing an additional 33,504 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Impinj during the first quarter worth about $513,000.

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.