Cantor Fitzgerald Boosts Impinj (NASDAQ:PI) Price Target to $260.00

Impinj (NASDAQ:PI) had its price objective raised by research analysts at Cantor Fitzgerald from $205.00 to $260.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Cantor Fitzgerald’s price target would suggest a potential upside of 35.97% from the stock’s previous close.

Several other brokerages have also recently issued reports on PI. Evercore ISI restated an “outperform” rating and issued a $270.00 price target (up from $205.00) on shares of Impinj in a research report on Thursday. Needham & Company LLC increased their target price on shares of Impinj from $195.00 to $245.00 and gave the stock a “buy” rating in a research note on Thursday. Piper Sandler restated an “overweight” rating and set a $235.00 price objective (up previously from $225.00) on shares of Impinj in a report on Thursday. Roth Mkm upped their price objective on shares of Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, StockNews.com upgraded shares of Impinj from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $220.20.

Impinj Trading Down 14.0 %

NASDAQ PI traded down $31.24 during trading on Thursday, reaching $191.22. The company’s stock had a trading volume of 1,325,749 shares, compared to its average volume of 462,052. The firm has a market capitalization of $5.38 billion, a price-to-earnings ratio of 659.38 and a beta of 1.80. Impinj has a 12 month low of $48.39 and a 12 month high of $239.88. The firm has a 50 day moving average price of $195.01 and a 200 day moving average price of $168.26.

Impinj (NASDAQ:PI) last issued its earnings results on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, beating the consensus estimate of $0.74 by $0.09. The company 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 21.12%. The business’s revenue for the quarter was up 19.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.14) EPS. On average, equities analysts forecast that Impinj will post 0.31 EPS for the current fiscal year.

Insider Buying and Selling at Impinj

In other Impinj news, CRO Jeffrey Dossett sold 15,000 shares of Impinj stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $157.81, for a total transaction of $2,367,150.00. Following the transaction, the executive now directly owns 63,642 shares of the company’s stock, valued at approximately $10,043,344.02. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CRO Jeffrey Dossett sold 15,000 shares of Impinj stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $157.81, for a total value of $2,367,150.00. Following the transaction, the executive now directly owns 63,642 shares of the company’s stock, valued at $10,043,344.02. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Cathal G. Phelan sold 677 shares of Impinj stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $162.46, for a total transaction of $109,985.42. Following the completion of the sale, the insider now owns 17,367 shares in the company, valued at approximately $2,821,442.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,779 shares of company stock worth $3,825,046 over the last three months. 51.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Impinj

A number of hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC purchased a new stake in Impinj during the 1st quarter valued at approximately $513,000. TimesSquare Capital Management LLC bought a new stake in shares of Impinj in the first quarter valued at about $19,195,000. Harbor Capital Advisors Inc. raised its holdings in shares of Impinj by 112.0% in the second quarter. Harbor Capital Advisors Inc. now owns 13,533 shares of the company’s stock valued at $2,122,000 after acquiring an additional 7,151 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in Impinj by 13.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company’s stock valued at $7,990,000 after purchasing an additional 7,247 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in Impinj by 1.5% in the first quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock valued at $322,384,000 after purchasing an additional 35,893 shares during 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.