Susquehanna Increases Impinj (NASDAQ:PI) Price Target to $140.00

Impinj (NASDAQ:PI) had its price objective upped by Susquehanna from $130.00 to $140.00 in a note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s target price would suggest a potential upside of 15.79% from the stock’s previous close.

Several other brokerages also recently commented on PI. The Goldman Sachs Group raised their price objective on shares of Impinj from $89.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, February 9th. 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 objective for the company. Canaccord Genuity Group boosted their target price on shares of Impinj from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Thursday, March 14th. Needham & Company LLC upped their price objective on shares of Impinj from $120.00 to $130.00 and gave the company a “buy” rating in a report on Thursday, March 14th. Finally, StockNews.com raised shares of Impinj to a “sell” rating in a report on Friday, February 9th. Two investment analysts have rated the stock with a sell rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Impinj currently has an average rating of “Moderate Buy” and a consensus target price of $120.56.

Impinj Trading Down 2.2 %

NASDAQ:PI opened at $120.91 on Tuesday. The company’s 50 day moving average price is $117.29 and its 200-day moving average price is $93.92. Impinj has a 52 week low of $48.39 and a 52 week high of $139.46. The company has a quick ratio of 5.59, a current ratio of 8.73 and a debt-to-equity ratio of 8.26. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of -74.64 and a beta of 2.05.

Impinj (NASDAQ:PI) last issued its earnings results on Thursday, February 8th. The company reported ($0.36) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.47) by $0.11. Impinj had a negative net margin of 14.10% and a negative return on equity of 74.70%. The company had revenue of $70.65 million for the quarter, compared to analysts’ expectations of $67.10 million. On average, equities research analysts forecast that Impinj will post -0.62 earnings per share for the current fiscal year.

Insider Activity

In related news, COO Hussein Mecklai sold 30,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $104.80, for a total transaction of $3,144,000.00. Following the completion of the sale, the chief operating officer now directly owns 40,489 shares in the company, valued at $4,243,247.20. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Impinj news, CFO Cary Baker sold 374 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $118.70, for a total transaction of $44,393.80. Following the completion of the transaction, the chief financial officer now owns 67,948 shares of the company’s stock, valued at $8,065,427.60. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Hussein Mecklai sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $104.80, for a total transaction of $3,144,000.00. Following the completion of the transaction, the chief operating officer now directly owns 40,489 shares of the company’s stock, valued at approximately $4,243,247.20. The disclosure for this sale can be found here. Insiders sold 120,185 shares of company stock worth $12,767,674 over the last three months. Insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Wealth Effects LLC raised its holdings in Impinj by 1.0% in the first quarter. Wealth Effects LLC now owns 15,145 shares of the company’s stock valued at $1,945,000 after acquiring an additional 150 shares in the last quarter. Deltec Asset Management LLC acquired a new stake in Impinj during the first quarter worth approximately $584,000. Future Financial Wealth Managment LLC acquired a new stake in Impinj during the first quarter worth approximately $32,000. Ghisallo Capital Management LLC acquired a new stake in Impinj during the fourth quarter worth approximately $4,192,000. Finally, Prudential PLC acquired a new stake in Impinj during the fourth quarter worth approximately $277,000.

About Impinj

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.