Cantor Fitzgerald Upgrades Impinj (NASDAQ:PI) to Strong-Buy

Impinj (NASDAQ:PI) was upgraded by equities research analysts at Cantor Fitzgerald to a “strong-buy” rating in a report issued on Thursday,Zacks.com reports.

Several other analysts have also commented on PI. Piper Sandler dropped their target price on Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a report on Thursday, February 6th. Susquehanna dropped their price objective on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research note on Wednesday, January 22nd. Needham & Company LLC cut their target price on shares of Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a report on Thursday, February 6th. The Goldman Sachs Group lowered their price target on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating on the stock in a report on Thursday, February 6th. Finally, StockNews.com lowered shares of Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, one has given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Impinj currently has an average rating of “Moderate Buy” and a consensus target price of $180.10.

Impinj Trading Down 5.1 %

Shares of NASDAQ PI opened at $91.41 on Thursday. The company has a 50 day simple moving average of $127.98 and a two-hundred day simple moving average of $167.21. The stock has a market cap of $2.61 billion, a price-to-earnings ratio of 67.21 and a beta of 1.88. Impinj has a 12 month low of $91.41 and a 12 month high of $239.88.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. Analysts forecast that Impinj will post -0.47 EPS for the current year.

Insider Buying and Selling at Impinj

In other Impinj news, COO Hussein Mecklai sold 826 shares of Impinj stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $146.07, for a total transaction of $120,653.82. Following the sale, the chief operating officer now owns 60,830 shares of the company’s stock, valued at $8,885,438.10. The trade was a 1.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Cathal G. Phelan sold 210 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total transaction of $30,672.60. Following the sale, the insider now directly owns 6,979 shares of the company’s stock, valued at $1,019,352.74. The trade was a 2.92 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 22,323 shares of company stock valued at $2,454,588 over the last ninety days. Corporate insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

A number of institutional investors and hedge funds have recently bought and sold shares of PI. Raymond James & Associates increased its holdings in shares of Impinj by 21.7% in the third quarter. Raymond James & Associates now owns 22,951 shares of the company’s stock valued at $4,969,000 after purchasing an additional 4,090 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Impinj by 157.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,278 shares of the company’s stock valued at $2,009,000 after buying an additional 5,669 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in shares of Impinj in the 3rd quarter worth $2,813,000. New York State Teachers Retirement System purchased a new position in shares of Impinj during the 3rd quarter worth $1,126,000. Finally, Farther Finance Advisors LLC boosted its position in shares of Impinj by 1,084.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock valued at $33,000 after acquiring an additional 141 shares during the last quarter.

Impinj Company Profile

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.