Impinj (NASDAQ:PI) Price Target Increased to $145.00 by Analysts at Roth Mkm

Impinj (NASDAQ:PI) had its price objective raised by Roth Mkm from $125.00 to $145.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

PI has been the subject of a number of other reports. StockNews.com raised Impinj to a sell rating in a research note on Friday, February 9th. Susquehanna raised their price objective on Impinj from $130.00 to $140.00 and gave the company a positive rating in a research note on Tuesday. Canaccord Genuity Group raised their price objective on Impinj from $130.00 to $150.00 and gave the company a buy rating in a research note on Thursday, March 14th. Piper Sandler reiterated an overweight rating and set a $150.00 target price (up previously from $130.00) on shares of Impinj in a report on Thursday. Finally, The Goldman Sachs Group increased their target price on Impinj from $89.00 to $115.00 and gave the company a buy rating in a report on Friday, February 9th. Two investment analysts have rated the stock with a sell rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Impinj presently has an average rating of Moderate Buy and an average price target of $128.33.

Impinj Price Performance

Shares of NASDAQ PI traded down $8.82 during midday trading on Thursday, hitting $146.73. The stock had a trading volume of 796,786 shares, compared to its average volume of 411,016. Impinj has a 1 year low of $48.39 and a 1 year high of $156.41. The company has a quick ratio of 5.59, a current ratio of 8.73 and a debt-to-equity ratio of 8.26. The company has a market capitalization of $4.06 billion, a PE ratio of -413.77 and a beta of 2.05. The stock has a 50 day simple moving average of $118.27 and a 200-day simple moving average of $94.35.

Impinj (NASDAQ:PI) last released its quarterly earnings data on Wednesday, April 24th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.31) by $0.14. The business had revenue of $76.83 million during the quarter, compared to analysts’ expectations of $73.57 million. Impinj had a negative return on equity of 81.75% and a negative net margin of 1.90%. On average, sell-side analysts expect that Impinj will post -0.62 EPS for the current fiscal year.

Insider Buying and Selling at Impinj

In other Impinj news, COO Hussein Mecklai sold 435 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $118.75, for a total transaction of $51,656.25. Following the sale, the chief operating officer now directly owns 55,414 shares of the company’s stock, valued at approximately $6,580,412.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Impinj news, CFO Cary Baker sold 20,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $102.14, for a total transaction of $2,042,800.00. Following the completion of the sale, the chief financial officer now directly owns 55,432 shares in the company, valued at $5,661,824.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Hussein Mecklai sold 435 shares of the company’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $118.75, for a total transaction of $51,656.25. Following the sale, the chief operating officer now owns 55,414 shares of the company’s stock, valued at $6,580,412.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 120,185 shares of company stock valued at $12,767,674. Corporate insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. FMR LLC grew its stake in shares of Impinj by 0.8% during the third quarter. FMR LLC now owns 4,028,894 shares of the company’s stock valued at $221,710,000 after purchasing an additional 31,289 shares during the last quarter. Sylebra Capital LLC bought a new position in Impinj in the third quarter valued at approximately $217,290,000. Westfield Capital Management Co. LP boosted its stake in Impinj by 40.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,022,359 shares of the company’s stock valued at $56,260,000 after acquiring an additional 292,470 shares during the last quarter. Fred Alger Management LLC boosted its stake in Impinj by 249.6% in the third quarter. Fred Alger Management LLC now owns 795,973 shares of the company’s stock valued at $43,802,000 after acquiring an additional 568,301 shares during the last quarter. Finally, Capital International Investors bought a new position in Impinj in the fourth quarter valued at approximately $68,211,000.

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.