Impinj (NASDAQ:PI) PT Raised to $145.00 at Roth Mkm

Impinj (NASDAQ:PI) had its price objective raised by equities researchers at Roth Mkm from $125.00 to $145.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Roth Mkm’s target price would indicate a potential upside of 1.48% from the company’s previous close.

A number of other equities analysts have also issued reports on the company. Piper Sandler restated an “overweight” rating and issued a $150.00 target price (up previously from $130.00) on shares of Impinj in a research note on Thursday. StockNews.com upgraded Impinj to a “sell” rating in a research note on Friday, February 9th. Needham & Company LLC raised their target price on Impinj from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday. The Goldman Sachs Group raised their target price on Impinj from $89.00 to $115.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Finally, Susquehanna raised their target price on Impinj from $130.00 to $140.00 and gave the stock a “positive” rating in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $128.33.

Impinj Stock Up 18.2 %

Shares of PI traded up $21.98 during midday trading on Thursday, hitting $142.89. 962,199 shares of the company’s stock traded hands, compared to its average volume of 377,975. Impinj has a 1 year low of $48.39 and a 1 year high of $144.39. The firm’s fifty day moving average is $117.29 and its 200-day moving average is $93.92. The company has a current ratio of 8.73, a quick ratio of 5.59 and a debt-to-equity ratio of 8.26. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of -87.51 and a beta of 2.05.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, April 24th. The company reported ($0.17) EPS for the quarter, beating the consensus estimate of ($0.31) by $0.14. The firm had revenue of $76.83 million during the quarter, compared to analyst estimates of $73.57 million. Impinj had a negative return on equity of 74.70% and a negative net margin of 14.10%. As a group, sell-side analysts anticipate that Impinj will post -0.62 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Cary Baker sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $102.14, for a total transaction of $2,042,800.00. Following the sale, the chief financial officer now directly owns 55,432 shares in the company, valued at approximately $5,661,824.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Chris Ph.D. Diorio sold 16,060 shares of Impinj stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $101.16, for a total value of $1,624,629.60. Following the sale, the chief executive officer now directly owns 278,863 shares in the company, valued at approximately $28,209,781.08. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Cary Baker sold 20,000 shares of Impinj stock in a transaction dated Wednesday, February 14th. The stock was sold at an average price of $102.14, for a total value of $2,042,800.00. Following the completion of the sale, the chief financial officer now owns 55,432 shares in the company, valued at $5,661,824.48. The disclosure for this sale can be found here. In the last three months, insiders have sold 120,185 shares of company stock valued at $12,767,674. Company insiders own 17.10% of the company’s stock.

Institutional Investors Weigh In On Impinj

Several institutional investors have recently bought and sold shares of PI. Wealth Effects LLC lifted its stake in Impinj by 1.0% in the 1st quarter. Wealth Effects LLC now owns 15,145 shares of the company’s stock worth $1,945,000 after purchasing an additional 150 shares in the last quarter. Deltec Asset Management LLC purchased a new position in Impinj in the 1st quarter worth approximately $584,000. Future Financial Wealth Managment LLC purchased a new position in Impinj in the 1st quarter worth approximately $32,000. Ghisallo Capital Management LLC purchased a new position in Impinj in the 4th quarter worth approximately $4,192,000. Finally, Prudential PLC purchased a new position in Impinj in the 4th quarter worth approximately $277,000.

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.