Impinj (NASDAQ:PI) Given New $205.00 Price Target at Evercore ISI

Impinj (NASDAQ:PI) had its price target hoisted by Evercore ISI from $172.00 to $205.00 in a research report sent to investors on Thursday, Benzinga reports. The firm currently has an outperform rating on the stock.

PI has been the subject of a number of other research reports. StockNews.com cut shares of Impinj from a hold rating to a sell rating in a research report on Tuesday, May 21st. Lake Street Capital increased their price objective on Impinj from $155.00 to $190.00 and gave the company a buy rating in a report on Thursday. Roth Mkm boosted their target price on Impinj from $145.00 to $175.00 and gave the stock a buy rating in a research note on Thursday. Cantor Fitzgerald reaffirmed an overweight rating and set a $205.00 target price on shares of Impinj in a research report on Thursday. Finally, Susquehanna raised their price target on Impinj from $150.00 to $215.00 and gave the stock a positive rating in a report on Wednesday, July 17th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average target price of $187.10.

Impinj Trading Up 0.5 %

PI opened at $160.06 on Thursday. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of -457.31 and a beta of 1.78. Impinj has a 12 month low of $48.39 and a 12 month high of $181.88. The stock has a fifty day moving average price of $160.69 and a 200-day moving average price of $134.63.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, July 24th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.09. The company had revenue of $102.50 million for the quarter, compared to analyst estimates of $97.47 million. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The firm’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.14) earnings per share. On average, equities research analysts forecast that Impinj will post 0.12 EPS for the current year.

Insider Activity at Impinj

In other news, COO Hussein Mecklai sold 416 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $175.43, for a total value of $72,978.88. Following the sale, the chief operating officer now owns 58,104 shares in the company, valued at $10,193,184.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CRO Jeffrey Dossett sold 475 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $175.38, for a total transaction of $83,305.50. Following the sale, the executive now owns 63,642 shares in the company, valued at $11,161,533.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO Hussein Mecklai sold 416 shares of Impinj stock in a transaction on Monday, July 15th. The shares were sold at an average price of $175.43, for a total transaction of $72,978.88. Following the completion of the transaction, the chief operating officer now directly owns 58,104 shares of the company’s stock, valued at approximately $10,193,184.72. The disclosure for this sale can be found here. Insiders sold 1,049,835 shares of company stock worth $160,809,437 over the last three months. Company insiders own 51.00% of the company’s stock.

Hedge Funds Weigh In On Impinj

Several institutional investors and hedge funds have recently modified their holdings of PI. Future Financial Wealth Managment LLC purchased a new stake in shares of Impinj during the first quarter worth about $32,000. GAMMA Investing LLC acquired a new stake in Impinj in the 4th quarter worth about $40,000. Headlands Technologies LLC purchased a new stake in Impinj during the 4th quarter worth approximately $58,000. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Impinj by 117.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 963 shares of the company’s stock valued at $124,000 after acquiring an additional 521 shares during the last quarter. Finally, Jamison Private Wealth Management Inc. lifted its position in shares of Impinj by 211.2% in the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock valued at $127,000 after acquiring an additional 549 shares in the last quarter.

Impinj Company Profile

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.