Impinj (NASDAQ:PI) Receives New Coverage from Analysts at Evercore ISI

Evercore ISI began coverage on shares of Impinj (NASDAQ:PI) in a research report released on Tuesday morning, Marketbeat.com reports. The firm issued an outperform rating and a $160.00 price target on the stock.

Several other equities research analysts have also recently issued reports on PI. Needham & Company LLC boosted their price target on Impinj from $120.00 to $130.00 and gave the company a buy rating in a research note on Thursday, March 14th. Roth Mkm boosted their price target on Impinj from $115.00 to $125.00 and gave the company a buy rating in a research note on Thursday, March 14th. Canaccord Genuity Group boosted their price target on Impinj from $130.00 to $150.00 and gave the company a buy rating in a research note on Thursday, March 14th. Susquehanna boosted their price target on Impinj from $115.00 to $130.00 and gave the company a positive rating in a research note on Friday, February 9th. Finally, The Goldman Sachs Group boosted their price target on Impinj from $89.00 to $115.00 and gave the company a buy rating in a research note on Friday, February 9th. Two investment analysts have rated the stock with a sell rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $119.44.

Impinj Trading Up 1.7 %

Shares of NASDAQ:PI opened at $122.08 on Tuesday. Impinj has a 12-month low of $48.39 and a 12-month high of $142.70. The business has a 50 day moving average of $116.17 and a 200-day moving average of $91.72. The company has a debt-to-equity ratio of 8.26, a quick ratio of 5.59 and a current ratio of 8.73.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.47) by $0.11. Impinj had a negative return on equity of 74.70% and a negative net margin of 14.10%. The company had revenue of $70.65 million during the quarter, compared to analysts’ expectations of $67.10 million. On average, equities analysts predict that Impinj will post -0.62 earnings per share for the current year.

Insider Buying and Selling at Impinj

In other Impinj news, CEO Chris Ph.D. Diorio sold 16,060 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $101.16, for a total transaction of $1,624,629.60. Following the completion of the transaction, the chief executive officer now directly owns 278,863 shares in the company, valued at $28,209,781.08. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, insider Cathal G. Phelan sold 2,556 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $98.88, for a total transaction of $252,737.28. Following the completion of the transaction, the insider now directly owns 24,990 shares in the company, valued at $2,471,011.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Chris Ph.D. Diorio sold 16,060 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $101.16, for a total transaction of $1,624,629.60. Following the transaction, the chief executive officer now owns 278,863 shares of the company’s stock, valued at $28,209,781.08. The disclosure for this sale can be found here. Insiders sold a total of 120,185 shares of company stock worth $12,767,674 over the last three months. Corporate insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PI. Future Financial Wealth Managment LLC acquired a new stake in Impinj in the first quarter valued at $32,000. GAMMA Investing LLC acquired a new stake in Impinj in the fourth quarter valued at $40,000. KBC Group NV acquired a new stake in Impinj in the fourth quarter valued at $47,000. Advisors Asset Management Inc. acquired a new stake in Impinj in the first quarter valued at $39,000. Finally, Headlands Technologies LLC acquired a new stake in Impinj in the fourth quarter valued at $58,000.

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.