Impinj (NASDAQ:PI) Rating Increased to Strong-Buy at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Impinj (NASDAQ:PI) to a strong-buy rating in a research note published on Thursday,Zacks.com reports.

Several other brokerages have also recently issued reports on PI. Susquehanna cut their price objective on Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research note on Wednesday, January 22nd. StockNews.com cut Impinj from a “hold” rating to a “sell” rating in a research note on Friday, January 24th. The Goldman Sachs Group decreased their price objective on shares of Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a report on Thursday, February 6th. Piper Sandler reduced their price target on shares of Impinj from $235.00 to $140.00 and set an “overweight” rating on the stock in a research report on Thursday, February 6th. Finally, Needham & Company LLC lowered their price objective on shares of Impinj from $182.00 to $130.00 and set a “buy” rating for the company in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $180.10.

Impinj Trading Down 5.1 %

PI stock opened at $91.41 on Thursday. The firm has a 50 day simple moving average of $127.98 and a 200-day simple moving average of $167.21. The company has a market capitalization of $2.61 billion, a P/E ratio of 67.21 and a beta of 1.88. Impinj has a twelve month low of $91.41 and a twelve month high of $239.88.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.48 by ($0.49). Impinj had a return on equity of 7.11% and a net margin of 11.15%. On average, research analysts predict that Impinj will post -0.47 EPS for the current year.

Insider Activity

In related news, CEO Chris Ph.D. Diorio sold 8,334 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $98.78, for a total value of $823,232.52. Following the completion of the sale, the chief executive officer now owns 354,076 shares of the company’s stock, valued at $34,975,627.28. This represents a 2.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CRO Jeffrey Dossett sold 580 shares of the firm’s stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $146.06, for a total transaction of $84,714.80. Following the transaction, the executive now directly owns 66,180 shares in the company, valued at approximately $9,666,250.80. The trade was a 0.87 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,323 shares of company stock valued at $2,454,588. Insiders own 51.00% of the company’s stock.

Institutional Trading of Impinj

Institutional investors have recently made changes to their positions in the stock. FMR LLC lifted its holdings in shares of Impinj by 1.5% in the third quarter. FMR LLC now owns 4,217,403 shares of the company’s stock valued at $913,152,000 after buying an additional 60,461 shares during the period. Sylebra Capital LLC lifted its holdings in Impinj by 8.6% in the 4th quarter. Sylebra Capital LLC now owns 3,472,116 shares of the company’s stock valued at $504,360,000 after acquiring an additional 274,764 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Impinj by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 3,442,164 shares of the company’s stock valued at $500,009,000 after purchasing an additional 104,861 shares in the last quarter. Capital International Investors grew its stake in shares of Impinj by 45.0% in the 4th quarter. Capital International Investors now owns 1,527,587 shares of the company’s stock worth $221,897,000 after purchasing an additional 473,721 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Impinj by 25.7% in the 3rd quarter. State Street Corp now owns 1,078,676 shares of the company’s stock worth $233,555,000 after purchasing an additional 220,776 shares in the last quarter.

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.