KeyCorp restated their hold rating on shares of IMPINJ Inc (NYSE:PI) in a report released on Friday.

Other equities analysts have also recently issued research reports about the stock. Zacks Investment Research cut shares of IMPINJ from a hold rating to a sell rating in a research report on Wednesday, July 19th. Royal Bank Of Canada reissued an outperform rating on shares of IMPINJ in a research report on Saturday, July 22nd. Needham & Company LLC raised their price target on shares of IMPINJ from $40.00 to $55.00 and gave the company a buy rating in a research report on Wednesday, July 26th. Canaccord Genuity reissued a buy rating and issued a $50.00 price target (down previously from $57.00) on shares of IMPINJ in a research report on Friday, August 4th. Finally, Dougherty & Co initiated coverage on shares of IMPINJ in a research report on Wednesday, August 23rd. They issued a buy rating and a $62.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of Hold and a consensus target price of $36.67.

IMPINJ (PI) opened at $22.23 on Friday. IMPINJ has a 1 year low of $19.97 and a 1 year high of $60.85.

IMPINJ (NYSE:PI) last posted its quarterly earnings data on Wednesday, November 1st. The company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.04). The company had revenue of $32.60 million for the quarter, compared to analysts’ expectations of $32.58 million. IMPINJ had a negative return on equity of 3.11% and a negative net margin of 2.86%. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.10 EPS.

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In other news, CFO Evan Fein sold 9,000 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $38.00, for a total value of $342,000.00. Following the sale, the chief financial officer now directly owns 15,300 shares in the company, valued at approximately $581,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Eric Brodersen sold 3,500 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $35.74, for a total transaction of $125,090.00. Following the completion of the sale, the chief operating officer now owns 101,443 shares in the company, valued at $3,625,572.82. The disclosure for this sale can be found here. Insiders sold a total of 37,000 shares of company stock worth $1,392,420 over the last 90 days.

Several institutional investors and hedge funds have recently made changes to their positions in PI. Sumitomo Mitsui Asset Management Company LTD acquired a new stake in IMPINJ during the 3rd quarter worth $26,714,000. Chevy Chase Trust Holdings Inc. acquired a new stake in IMPINJ during the 2nd quarter worth $13,899,000. State Street Corp raised its stake in IMPINJ by 207.6% during the 2nd quarter. State Street Corp now owns 303,827 shares of the company’s stock worth $14,781,000 after acquiring an additional 205,050 shares in the last quarter. Hood River Capital Management LLC raised its stake in IMPINJ by 30.9% during the 2nd quarter. Hood River Capital Management LLC now owns 731,965 shares of the company’s stock worth $35,610,000 after acquiring an additional 172,879 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in IMPINJ by 49.9% during the 1st quarter. Vanguard Group Inc. now owns 485,247 shares of the company’s stock worth $14,689,000 after acquiring an additional 161,494 shares in the last quarter.

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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