Royal Bank Of Canada restated their buy rating on shares of IMPINJ Inc (NYSE:PI) in a research note issued to investors on Friday morning.

Other equities analysts have also recently issued research reports about the company. KeyCorp cut IMPINJ to a hold rating in a report on Tuesday, June 27th. Morgan Stanley cut IMPINJ from an overweight rating to an equal weight rating and boosted their price target for the stock from $40.00 to $51.00 in a report on Monday, June 19th. Canaccord Genuity reissued a buy rating and set a $50.00 price target (down previously from $57.00) on shares of IMPINJ in a report on Friday, August 4th. Dougherty & Co assumed coverage on IMPINJ in a report on Wednesday, August 23rd. They set a buy rating and a $62.00 price target for the company. Finally, Zacks Investment Research cut IMPINJ from a hold rating to a sell rating in a report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company’s stock. IMPINJ currently has a consensus rating of Buy and an average target price of $49.29.

Shares of IMPINJ (PI) traded up 2.54% during mid-day trading on Friday, hitting $41.61. The stock had a trading volume of 403,005 shares. IMPINJ has a 52 week low of $23.55 and a 52 week high of $41.91. The firm’s market cap is $867.98 million. The stock has a 50 day moving average price of $38.99 and a 200 day moving average price of $38.99.

IMPINJ (NYSE:PI) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $33.41 million. During the same quarter in the previous year, the firm earned $0.06 EPS. IMPINJ’s revenue was up 31.2% on a year-over-year basis. Equities research analysts expect that IMPINJ will post $0.05 EPS for the current fiscal year.

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In other IMPINJ news, CFO Evan Fein sold 9,000 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $38.00, for a total value of $342,000.00. Following the completion of the transaction, the chief financial officer now owns 15,300 shares of the company’s stock, valued at approximately $581,400. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Eric Brodersen sold 3,500 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $35.74, for a total value of $125,090.00. Following the completion of the transaction, the chief operating officer now directly owns 101,443 shares of the company’s stock, valued at approximately $3,625,572.82. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,500 shares of company stock valued at $1,693,315.

A number of institutional investors and hedge funds have recently modified their holdings of PI. Sylebra HK Co Ltd bought a new stake in shares of IMPINJ in the 1st quarter valued at about $88,898,000. Alliancebernstein L.P. bought a new stake in shares of IMPINJ in the 1st quarter valued at about $20,284,000. JPMorgan Chase & Co. grew its position in shares of IMPINJ by 245.3% in the 1st quarter. JPMorgan Chase & Co. now owns 576,631 shares of the company’s stock valued at $17,455,000 after buying an additional 409,635 shares during the last quarter. OppenheimerFunds Inc. bought a new stake in shares of IMPINJ in the 1st quarter valued at about $9,327,000. Finally, Chevy Chase Trust Holdings Inc. bought a new stake in shares of IMPINJ in the 2nd quarter valued at about $13,899,000.

IMPINJ Company Profile

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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