Impinj (NASDAQ:PI) Price Target Raised to $137.00 | marketrealtime.com


Impinj (NASDAQ:PIGet Rating) had its price target raised by equities researchers at Jefferies Financial Group from $112.00 to $137.00 in a report released on Thursday, The Fly reports. Jefferies Financial Group’s price target suggests a potential upside of 16.60% from the company’s previous close.

Several other brokerages have also recently commented on PI. The Goldman Sachs Group upped their target price on Impinj from $100.00 to $111.00 and gave the company a “buy” rating in a report on Monday, December 5th. Canaccord Genuity Group upped their target price on Impinj from $100.00 to $115.00 and gave the company a “buy” rating in a report on Friday, October 28th. Piper Sandler upped their target price on Impinj from $100.00 to $120.00 in a report on Thursday, October 27th. Lake Street Capital upped their target price on Impinj from $109.00 to $132.00 in a report on Wednesday. Finally, Needham & Company LLC boosted their price target on Impinj from $120.00 to $130.00 in a research note on Thursday. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $115.13.

Impinj Stock Performance

NASDAQ:PI opened at $117.50 on Thursday. The stock has a market cap of $3.05 billion, a P/E ratio of -66.38 and a beta of 2.31. The company has a current ratio of 7.73, a quick ratio of 6.78 and a debt-to-equity ratio of 135.78. The stock’s 50-day moving average is $113.93 and its 200-day moving average is $94.17. Impinj has a 1-year low of $39.74 and a 1-year high of $129.02.

Impinj (NASDAQ:PIGet Rating) last announced its earnings results on Wednesday, October 26th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.20) by $0.17. Impinj had a negative return on equity of 236.49% and a negative net margin of 18.91%. The business had revenue of $68.27 million for the quarter, compared to analysts’ expectations of $64.67 million. Equities research analysts anticipate that Impinj will post -0.69 earnings per share for the current year.

Insider Buying and Selling at Impinj

In other news, CEO Chris Ph.D. Diorio sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $108.68, for a total transaction of $543,400.00. Following the transaction, the chief executive officer now directly owns 299,307 shares of the company’s stock, valued at $32,528,684.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Hussein Mecklai sold 21,000 shares of the company’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $110.62, for a total transaction of $2,323,020.00. Following the transaction, the chief operating officer now directly owns 20,401 shares of the company’s stock, valued at $2,256,758.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Chris Ph.D. Diorio sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, October 27th. The stock was sold at an average price of $108.68, for a total value of $543,400.00. Following the transaction, the chief executive officer now directly owns 299,307 shares in the company, valued at $32,528,684.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 497,613 shares of company stock valued at $58,339,077. 20.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Impinj

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in Impinj in the 2nd quarter valued at $2,621,000. Scout Investments Inc. raised its position in Impinj by 2.7% in the 2nd quarter. Scout Investments Inc. now owns 148,273 shares of the company’s stock valued at $8,699,000 after buying an additional 3,965 shares during the last quarter. Waterfront Wealth Inc. raised its position in Impinj by 8.2% in the 2nd quarter. Waterfront Wealth Inc. now owns 9,936 shares of the company’s stock valued at $583,000 after buying an additional 757 shares during the last quarter. HighTower Trust Services LTA bought a new position in Impinj in the 2nd quarter valued at $3,688,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Impinj by 0.5% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 58,691 shares of the company’s stock valued at $3,443,000 after purchasing an additional 286 shares during the period. 97.32% of the stock is owned by hedge funds and other institutional investors.

Impinj Company Profile

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Impinj, Inc operates a cloud connectivity platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. Its platform, which comprises multiple product families, wirelessly connects individual 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.

See Also

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Analyst Recommendations for Impinj (NASDAQ:PI)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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