Impinj (NASDAQ:PI) Price Target Increased to $175.00 by Analysts at Roth Mkm

Impinj (NASDAQ:PI) had its target price increased by Roth Mkm from $145.00 to $175.00 in a report issued on Thursday, Benzinga reports. The firm currently has a buy rating on the stock.

PI has been the subject of a number of other research reports. Evercore ISI assumed coverage on shares of Impinj in a research note on Tuesday, April 16th. They set an outperform rating and a $160.00 price target for the company. Susquehanna upped their price objective on shares of Impinj from $150.00 to $215.00 and gave the stock a positive rating in a research report on Wednesday, July 17th. StockNews.com downgraded shares of Impinj from a hold rating to a sell rating in a research report on Tuesday, May 21st. Needham & Company LLC restated a buy rating and set a $195.00 price objective on shares of Impinj in a research report on Thursday. Finally, Jefferies Financial Group assumed coverage on shares of Impinj in a research report on Monday, May 13th. They set a buy rating and a $200.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Impinj currently has an average rating of Moderate Buy and a consensus price target of $187.10.

Impinj Stock Performance

Shares of NASDAQ:PI opened at $159.27 on Thursday. The firm has a fifty day moving average price of $160.95 and a 200 day moving average price of $133.40. The company has a current ratio of 9.42, a quick ratio of 6.87 and a debt-to-equity ratio of 3.29. Impinj has a 1-year low of $48.39 and a 1-year high of $181.88.

Impinj (NASDAQ:PI) last issued its quarterly earnings results on Wednesday, July 24th. The company reported $0.83 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. The firm had revenue of $102.50 million during the quarter, compared to analysts’ expectations of $97.47 million. Impinj had a net margin of 3.93% and a negative return on equity of 27.81%. Impinj’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.14) EPS. On average, equities analysts anticipate that Impinj will post 0.04 EPS for the current fiscal year.

Insider Activity at Impinj

In related news, insider Cathal G. Phelan sold 212 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $147.52, for a total value of $31,274.24. Following the sale, the insider now directly owns 16,669 shares of the company’s stock, valued at approximately $2,459,010.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Impinj news, COO Hussein Mecklai sold 416 shares of the firm’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $175.43, for a total transaction of $72,978.88. Following the sale, the chief operating officer now directly owns 58,104 shares of the company’s stock, valued at approximately $10,193,184.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cathal G. Phelan sold 212 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $147.52, for a total transaction of $31,274.24. Following the completion of the sale, the insider now directly owns 16,669 shares in the company, valued at $2,459,010.88. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,049,835 shares of company stock valued at $160,809,437. Insiders own 51.00% of the company’s stock.

Institutional Investors Weigh In On Impinj

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Impinj by 1.5% in the first quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock worth $322,384,000 after acquiring an additional 35,893 shares during the last quarter. Capital International Investors purchased a new position in Impinj in the fourth quarter valued at approximately $68,211,000. Assenagon Asset Management S.A. purchased a new position in Impinj in the second quarter valued at approximately $103,252,000. Janus Henderson Group PLC raised its holdings in Impinj by 0.6% in the first quarter. Janus Henderson Group PLC now owns 439,562 shares of the company’s stock valued at $56,376,000 after buying an additional 2,681 shares during the period. Finally, Eagle Asset Management Inc. raised its stake in shares of Impinj by 19.6% during the fourth quarter. Eagle Asset Management Inc. now owns 204,767 shares of the company’s stock valued at $18,435,000 after purchasing an additional 33,504 shares during the period.

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.