BidaskClub upgraded shares of IMPINJ (NASDAQ:PI) from a hold rating to a buy rating in a research note released on Saturday morning.
PI has been the topic of several other reports. Zacks Investment Research raised IMPINJ from a hold rating to a buy rating and set a $28.00 target price on the stock in a research report on Wednesday, September 19th. Piper Jaffray Companies increased their target price on IMPINJ from $26.00 to $31.00 and gave the stock an overweight rating in a research report on Thursday, September 13th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average target price of $21.40.
PI stock opened at $21.97 on Friday. The company has a current ratio of 5.49, a quick ratio of 3.34 and a debt-to-equity ratio of 0.20. The company has a market cap of $479.95 million, a P/E ratio of -75.76 and a beta of 2.08. IMPINJ has a 12-month low of $9.95 and a 12-month high of $28.48.
IMPINJ (NASDAQ:PI) last issued its earnings results on Monday, October 29th. The company reported ($0.05) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.09. IMPINJ had a negative return on equity of 20.18% and a negative net margin of 33.58%. The firm had revenue of $34.40 million for the quarter, compared to analyst estimates of $33.47 million. During the same period last year, the company earned ($0.08) earnings per share. The firm’s revenue for the quarter was up 5.5% on a year-over-year basis. Sell-side analysts expect that IMPINJ will post -1.1 earnings per share for the current year.
Several large investors have recently added to or reduced their stakes in the company. First Trust Advisors LP grew its stake in shares of IMPINJ by 9.4% in the second quarter. First Trust Advisors LP now owns 36,131 shares of the company’s stock worth $799,000 after purchasing an additional 3,112 shares in the last quarter. Fred Alger Management Inc. grew its stake in shares of IMPINJ by 1.5% in the second quarter. Fred Alger Management Inc. now owns 233,438 shares of the company’s stock worth $5,161,000 after purchasing an additional 3,555 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of IMPINJ by 433.3% in the third quarter. Benjamin F. Edwards & Company Inc. now owns 4,800 shares of the company’s stock worth $119,000 after purchasing an additional 3,900 shares in the last quarter. Northern Trust Corp grew its stake in shares of IMPINJ by 1.9% in the second quarter. Northern Trust Corp now owns 221,038 shares of the company’s stock worth $4,886,000 after purchasing an additional 4,145 shares in the last quarter. Finally, SOL Capital Management CO bought a new position in shares of IMPINJ in the third quarter worth $202,000. 60.61% of the stock is owned by institutional investors.
Impinj, Inc operates a platform that enables wireless connectivity to everyday items by delivering each item's unique identity, location, and authenticity to business and consumer applications. The company's platform includes endpoint integrated circuits (ICs) product, a miniature radios-on-a-chip, which attach-to and identify their host items; and connectivity layer that comprises readers, gateways, and reader ICs to wirelessly identify, locate, authenticate, and engage endpoints via RAIN, as well as provide power to and communicate bidirectionally with endpoint ICs.
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