IMPINJ Inc (PI) Given “Buy” Rating at Royal Bank Of Canada
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.
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.
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