IMPINJ Inc (PI) Downgraded to “Buy” at BidaskClub

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.

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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.

About IMPINJ

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.

Analyst Recommendations for IMPINJ (NYSE:PI)

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