Impinj (NASDAQ:PI – Get Free Report) issued its quarterly earnings results on Wednesday. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.74 by $0.09, Briefing.com reports. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. The company had revenue of $102.50 million during the quarter, compared to analysts’ expectations of $97.47 million. During the same quarter last year, the company posted ($0.14) EPS. The firm’s revenue was up 19.2% compared to the same quarter last year. Impinj updated its Q3 guidance to $0.46-0.50 EPS and its Q3 2024 guidance to 0.460-0.500 EPS.
Impinj Stock Performance
Shares of NASDAQ:PI traded up $6.72 during midday trading on Thursday, hitting $159.27. The stock had a trading volume of 1,420,397 shares, compared to its average volume of 438,173. The company has a market capitalization of $4.41 billion, a PE ratio of -456.34 and a beta of 1.78. The stock has a 50 day moving average price of $161.16 and a two-hundred day moving average price of $133.22. The company has a current ratio of 9.42, a quick ratio of 6.87 and a debt-to-equity ratio of 3.29. Impinj has a 1 year low of $48.39 and a 1 year high of $181.88.
Insider Activity
In other news, Director Umesh Padval sold 3,475 shares of Impinj stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $151.39, for a total value of $526,080.25. Following the sale, the director now owns 3,529 shares of the company’s stock, valued at $534,255.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, Director Umesh Padval sold 3,475 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $151.39, for a total transaction of $526,080.25. Following the sale, the director now owns 3,529 shares of the company’s stock, valued at $534,255.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Cathal G. Phelan sold 212 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $147.52, for a total transaction of $31,274.24. Following the sale, the insider now directly owns 16,669 shares in the company, valued at approximately $2,459,010.88. The disclosure for this sale can be found here. Insiders have sold a total of 1,097,971 shares of company stock valued at $167,900,777 over the last quarter. Corporate insiders own 51.00% of the company’s stock.
Wall Street Analysts Forecast Growth
Read Our Latest Research Report on PI
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.
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