Impinj’s (PI) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler restated their overweight rating on shares of Impinj (NASDAQ:PI) in a research report released on Thursday,Benzinga reports. Piper Sandler currently has a $100.00 price objective on the stock.

A number of other research firms also recently commented on PI. Cantor Fitzgerald restated an “overweight” rating and set a $133.00 price objective on shares of Impinj in a research note on Thursday, April 24th. Needham & Company LLC decreased their price target on Impinj from $130.00 to $115.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Finally, Evercore ISI boosted their price target on Impinj from $99.00 to $117.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $155.38.

Impinj Trading Down 4.1%

NASDAQ:PI opened at $104.39 on Thursday. Impinj has a 1 year low of $60.85 and a 1 year high of $239.88. The stock has a 50-day moving average price of $99.08 and a two-hundred day moving average price of $115.12. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 76.76 and a beta of 1.67.

Impinj (NASDAQ:PI) last released its quarterly earnings results on Wednesday, April 23rd. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.12. The company had revenue of $74.28 million during the quarter, compared to analysts’ expectations of $71.73 million. Impinj had a net margin of 11.15% and a return on equity of 7.11%. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.21 earnings per share. Sell-side analysts forecast that Impinj will post -0.47 earnings per share for the current year.

Institutional Trading of Impinj

Institutional investors have recently modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Impinj by 304.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 972,260 shares of the company’s stock valued at $88,184,000 after buying an additional 731,817 shares in the last quarter. Capital International Investors boosted its stake in shares of Impinj by 45.0% in the 4th quarter. Capital International Investors now owns 1,527,587 shares of the company’s stock valued at $221,897,000 after purchasing an additional 473,721 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Impinj by 3,824.4% during the 4th quarter. Janus Henderson Group PLC now owns 435,960 shares of the company’s stock valued at $63,310,000 after purchasing an additional 424,851 shares during the last quarter. Norges Bank bought a new stake in shares of Impinj during the 4th quarter valued at approximately $40,100,000. Finally, Sylebra Capital LLC increased its position in Impinj by 8.6% during the 4th quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company’s stock worth $504,360,000 after purchasing an additional 274,764 shares in the last quarter.

About Impinj

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.