Impinj, Inc. (PI) Receives Consensus Recommendation of “Hold” from Analysts

Impinj, Inc. (NASDAQ:PI) has earned an average rating of “Hold” from the nine brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $36.20.

A number of research firms have weighed in on PI. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Impinj in a research report on Saturday, July 22nd. Needham & Company LLC increased their price objective on Impinj from $40.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, July 26th. Zacks Investment Research raised Impinj from a “sell” rating to a “buy” rating and set a $39.00 price objective for the company in a research report on Wednesday, October 25th. Dougherty & Co began coverage on Impinj in a research report on Wednesday, August 23rd. They set a “buy” rating and a $62.00 price objective for the company. Finally, BidaskClub cut Impinj from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 10th.

Shares of Impinj (PI) traded up $0.08 during midday trading on Monday, hitting $25.31. The company had a trading volume of 477,875 shares, compared to its average volume of 759,907. The company has a quick ratio of 4.97, a current ratio of 7.49 and a debt-to-equity ratio of 0.06. Impinj has a 1 year low of $19.97 and a 1 year high of $60.85.

Impinj (NASDAQ:PI) last announced its earnings results on Wednesday, November 1st. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.04). The firm had revenue of $32.60 million during the quarter, compared to analyst estimates of $32.58 million. Impinj had a negative net margin of 5.97% and a negative return on equity of 1.15%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the company earned $0.10 earnings per share. research analysts forecast that Impinj will post -0.31 earnings per share for the current fiscal year.

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In other news, insider Eric Brodersen sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $35.81, for a total value of $250,670.00. Following the completion of the sale, the insider now directly owns 101,443 shares of the company’s stock, valued at approximately $3,632,673.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Evan Fein sold 9,000 shares of the firm’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $38.00, for a total value of $342,000.00. Following the completion of the sale, the chief financial officer now directly owns 15,300 shares of the company’s stock, valued at $581,400. The disclosure for this sale can be found here. Insiders sold a total of 37,000 shares of company stock valued at $1,392,420 over the last three months. Insiders own 15.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Rainier Group Investment Advisory LLC purchased a new position in Impinj in the 3rd quarter valued at approximately $208,000. Neuberger Berman Group LLC purchased a new position in Impinj in the 3rd quarter valued at approximately $1,199,000. Bamco Inc. NY increased its stake in Impinj by 60.0% in the 3rd quarter. Bamco Inc. NY now owns 80,000 shares of the company’s stock valued at $3,329,000 after purchasing an additional 30,000 shares in the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new position in Impinj in the 3rd quarter valued at approximately $128,000. Finally, Chevy Chase Trust Holdings Inc. increased its stake in Impinj by 125.4% in the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 643,979 shares of the company’s stock valued at $26,795,000 after purchasing an additional 358,279 shares in the last quarter. 75.40% of the stock is owned by hedge funds and other institutional investors.

About Impinj

Impinj, Inc is a provider of RAIN radio frequency identification (RFID) solutions. The Company sells a platform that includes endpoint integrated circuits (ICs), reader ICs, readers and gateways that enable wireless connectivity to everyday items, and software that delivers Item Intelligence from endpoint reads.

Analyst Recommendations for Impinj (NASDAQ:PI)

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