Impinj (NASDAQ:PI) Announces Earnings Results

Impinj (NASDAQ:PI) released its quarterly earnings data on Wednesday. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.48 by $0.08, Briefing.com reports. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The business had revenue of $95.20 million during the quarter, compared to the consensus estimate of $92.86 million. During the same quarter in the prior year, the firm earned ($0.36) EPS. The business’s revenue was up 46.5% on a year-over-year basis. Impinj updated its Q4 guidance to $0.45-$0.49 EPS and its Q4 2024 guidance to 0.450-0.490 EPS.

Impinj Price Performance

Impinj stock opened at $192.21 on Friday. The firm has a market capitalization of $5.40 billion, a P/E ratio of 662.79 and a beta of 1.80. Impinj has a 1-year low of $48.39 and a 1-year high of $239.88. The company’s 50-day moving average is $195.60 and its 200 day moving average is $168.43.

Analyst Ratings Changes

A number of equities analysts recently commented on PI shares. Lake Street Capital increased their price target on Impinj from $190.00 to $251.00 and gave the company a “buy” rating in a research note on Thursday. StockNews.com upgraded Impinj from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Susquehanna boosted their price target on shares of Impinj from $215.00 to $260.00 and gave the stock a “positive” rating in a research report on Monday. Evercore ISI reaffirmed an “outperform” rating and set a $270.00 price target (up previously from $205.00) on shares of Impinj in a research note on Thursday. Finally, Cantor Fitzgerald lifted their price objective on shares of Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $220.20.

Insider Buying and Selling at Impinj

In other Impinj news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of Impinj stock in a transaction on Friday, September 13th. The shares were acquired at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the completion of the purchase, the insider now directly owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Cary Baker sold 496 shares of the firm’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $209.17, for a total transaction of $103,748.32. Following the transaction, the chief financial officer now owns 70,524 shares in the company, valued at approximately $14,751,505.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was acquired at an average cost of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the purchase, the insider now owns 33,050,456 shares of the company’s stock, valued at $155,006,638.64. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 21,779 shares of company stock worth $3,825,046 over the last 90 days. Company insiders own 51.00% of the company’s stock.

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.