Impinj (NASDAQ:PI) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Thursday, January 4th.
According to Zacks, “Impinj, Inc. is a provider of referral and information network radio frequency identification solutions to the retail, pharmaceutical, healthcare, food and beverage and other industries. The company’s products include Indy Reader Chips which consists of integrated radio chips and supporting SDKs; Monza Tag Chips, which deliver memory options and extended features to RFID tags and Speedway fixed RFID readers and antennas for RFID-based information. Impinj, Inc. is based in Seattle, Washington. “
PI has been the topic of several other research reports. BidaskClub upgraded Impinj from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, October 3rd. Needham & Company LLC reiterated a “buy” rating and set a $34.00 target price (down previously from $45.00) on shares of Impinj in a research report on Thursday, November 2nd. Canaccord Genuity reiterated a “buy” rating and set a $35.00 target price (down previously from $50.00) on shares of Impinj in a research report on Thursday, November 2nd. Morgan Stanley dropped their target price on Impinj from $29.00 to $27.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 13th. Finally, Dougherty & Co reiterated a “buy” rating and set a $62.00 target price on shares of Impinj in a research report on Thursday, September 14th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. Impinj presently has an average rating of “Hold” and a consensus target price of $36.33.
Shares of Impinj (NASDAQ:PI) traded up $0.11 during mid-day trading on Thursday, reaching $23.41. The company has a market cap of $490.63 and a P/E ratio of -61.61. Impinj has a 12-month low of $19.97 and a 12-month high of $60.85. The company has a debt-to-equity ratio of 0.06, a quick ratio of 4.97 and a current ratio of 7.49.
Impinj (NASDAQ:PI) last issued its quarterly earnings results on Wednesday, November 1st. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.04). Impinj had a negative net margin of 5.97% and a negative return on equity of 1.15%. The company had revenue of $32.60 million during the quarter, compared to analyst estimates of $32.58 million. During the same quarter last year, the firm earned $0.10 EPS. The business’s revenue was up 5.2% on a year-over-year basis. equities research analysts anticipate that Impinj will post -0.41 EPS for the current year.
In related news, Director Clinton Bybee bought 4,000 shares of Impinj stock in a transaction that occurred on Thursday, November 9th. The shares were purchased at an average price of $24.43 per share, with a total value of $97,720.00. Following the purchase, the director now owns 4,417 shares in the company, valued at $107,907.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eric Brodersen sold 5,400 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $25.43, for a total value of $137,322.00. Following the completion of the sale, the insider now directly owns 78,743 shares in the company, valued at approximately $2,002,434.49. The disclosure for this sale can be found here. 15.20% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the stock. Hartline Investment Corp raised its holdings in Impinj by 34.6% in the 3rd quarter. Hartline Investment Corp now owns 79,831 shares of the company’s stock valued at $3,322,000 after acquiring an additional 20,501 shares during the last quarter. Rainier Group Investment Advisory LLC acquired a new position in Impinj in the 3rd quarter valued at $208,000. Neuberger Berman Group LLC acquired a new position in Impinj in the 3rd quarter valued at $1,199,000. Bamco Inc. NY raised its holdings 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 acquiring an additional 30,000 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. acquired a new position in Impinj in the 3rd quarter valued at $128,000. 82.69% of the stock is currently owned by hedge funds and other institutional investors.
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Impinj Company Profile
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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