KeyCorp Reaffirms Hold Rating for IMPINJ Inc (PI)
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.
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