BidaskClub cut shares of IMPINJ Inc (NYSE:PI) from a strong-buy rating to a buy rating in a research note released on Tuesday.
Several other equities research analysts also recently commented on the company. Royal Bank Of Canada reiterated a buy rating on shares of IMPINJ in a report on Friday, September 29th. Dougherty & Co reissued a buy rating and issued a $62.00 target price on shares of IMPINJ in a research report on Thursday, September 14th. KeyCorp reissued a hold rating on shares of IMPINJ in a research report on Wednesday, August 23rd. Zacks Investment Research cut IMPINJ from a hold rating to a sell rating in a research report on Wednesday, August 9th. Finally, Canaccord Genuity reissued a buy rating and issued a $50.00 target price (down from $57.00) on shares of IMPINJ in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average target price of $50.67.
IMPINJ (NYSE PI) opened at 36.85 on Tuesday. IMPINJ has a one year low of $23.55 and a one year high of $41.97. The stock’s market capitalization is $768.69 million. The company has a 50 day moving average of $39.26 and a 200-day moving average of $39.26.
IMPINJ (NYSE:PI) last released its quarterly earnings data on Thursday, August 3rd. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. IMPINJ had a negative return on equity of 3.11% and a negative net margin of 2.86%. The company had revenue of $34.10 million during the quarter, compared to the consensus estimate of $33.41 million. During the same period last year, the company earned $0.06 EPS. IMPINJ’s revenue for the quarter was up 31.2% on a year-over-year basis. Equities research analysts predict that IMPINJ will post $0.05 earnings per share for the current fiscal year.
In other news, insider Eric Brodersen sold 7,000 shares of IMPINJ stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $53.23, for a total transaction of $372,610.00. Following the transaction, the insider now directly owns 106,743 shares of the company’s stock, valued at approximately $5,681,929.89. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Evan Fein sold 9,000 shares of IMPINJ stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $38.00, for a total value of $342,000.00. Following the transaction, the chief financial officer now directly owns 15,300 shares in the company, valued at $581,400. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 40,500 shares of company stock worth $1,693,315.
Hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SA lifted its position in shares of IMPINJ by 1,261.0% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock valued at $102,000 after buying an additional 1,942 shares in the last quarter. Turner Investments LLC purchased a new position in shares of IMPINJ during the 2nd quarter valued at about $146,000. PNC Financial Services Group Inc. lifted its position in shares of IMPINJ by 95.1% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,621 shares of the company’s stock valued at $176,000 after buying an additional 1,765 shares in the last quarter. First Mercantile Trust Co. purchased a new position in shares of IMPINJ during the 2nd quarter valued at about $178,000. Finally, American International Group Inc. purchased a new position in shares of IMPINJ during the 1st quarter valued at about $112,000.
Impinj, Inc is a provider of RAIN radio frequency identification (RFID) solutions. The Company sells a platform that includes endpoint integrated circuits (ICs), reader ICs, readers and gateways that enable wireless connectivity to everyday items, and software that delivers Item Intelligence from endpoint reads.
Receive News & Ratings for IMPINJ Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IMPINJ Inc and related companies with MarketBeat.com's FREE daily email newsletter.