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.
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.
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