Impinj (NASDAQ:PI) PT Raised to $145.00 at Roth Mkm

Impinj (NASDAQ:PI) had its price objective lifted by equities research analysts at Roth Mkm from $125.00 to $145.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Roth Mkm’s price objective would suggest a potential upside of 1.48% from the stock’s previous close.

Several other brokerages have also weighed in on PI. Needham & Company LLC upped their target price on Impinj from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday. Canaccord Genuity Group upped their target price on Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Piper Sandler reaffirmed an “overweight” rating and issued a $150.00 target price (up from $130.00) on shares of Impinj in a research report on Thursday. Susquehanna upped their target price on Impinj from $130.00 to $140.00 and gave the stock a “positive” rating in a research report on Tuesday. Finally, StockNews.com raised Impinj to a “sell” rating in a report on Friday, February 9th. Two research analysts have rated the stock with a sell rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $128.33.

Impinj Stock Up 18.2 %

NASDAQ:PI traded up $21.98 during trading hours on Thursday, hitting $142.89. 962,199 shares of the company’s stock traded hands, compared to its average volume of 377,975. The firm has a market cap of $3.95 billion, a P/E ratio of -87.51 and a beta of 2.05. Impinj has a twelve month low of $48.39 and a twelve month high of $144.39. The company has a debt-to-equity ratio of 8.26, a quick ratio of 5.59 and a current ratio of 8.73. The stock’s fifty day moving average price is $117.29 and its two-hundred day moving average price is $93.92.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, topping the consensus estimate of ($0.31) by $0.14. Impinj had a negative return on equity of 74.70% and a negative net margin of 14.10%. The company had revenue of $76.83 million for the quarter, compared to analyst estimates of $73.57 million. On average, research analysts expect that Impinj will post -0.62 earnings per share for the current fiscal year.

Insider Activity at Impinj

In related news, COO Hussein Mecklai sold 30,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $104.80, for a total transaction of $3,144,000.00. Following the completion of the sale, the chief operating officer now owns 40,489 shares in the company, valued at approximately $4,243,247.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Impinj news, CEO Chris Ph.D. Diorio sold 16,060 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $101.16, for a total value of $1,624,629.60. Following the completion of the sale, the chief executive officer now owns 278,863 shares in the company, valued at approximately $28,209,781.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Hussein Mecklai sold 30,000 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $104.80, for a total value of $3,144,000.00. Following the completion of the transaction, the chief operating officer now directly owns 40,489 shares of the company’s stock, valued at $4,243,247.20. The disclosure for this sale can be found here. Insiders sold a total of 120,185 shares of company stock worth $12,767,674 in the last 90 days. 17.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Impinj

Institutional investors and hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Impinj by 2.3% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,128 shares of the company’s stock valued at $462,000 after purchasing an additional 115 shares in the last quarter. Wealth Effects LLC boosted its stake in shares of Impinj by 1.0% during the 1st quarter. Wealth Effects LLC now owns 15,145 shares of the company’s stock worth $1,945,000 after acquiring an additional 150 shares during the period. Arizona State Retirement System boosted its stake in shares of Impinj by 3.3% during the 3rd quarter. Arizona State Retirement System now owns 6,450 shares of the company’s stock worth $355,000 after acquiring an additional 205 shares during the period. Future Financial Wealth Managment LLC bought a new position in shares of Impinj during the 1st quarter worth approximately $32,000. Finally, GAMMA Investing LLC acquired a new stake in Impinj during the 4th quarter worth approximately $40,000.

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.