Impinj (NASDAQ:PI) Price Target Raised to $160.00

Impinj (NASDAQ:PI) had its price objective lifted by Needham & Company LLC from $130.00 to $160.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have a buy rating on the stock.

PI has been the topic of a number of other research reports. Susquehanna lifted their price target on shares of Impinj from $130.00 to $140.00 and gave the stock a positive rating in a research note on Tuesday, April 23rd. Canaccord Genuity Group lifted their price target on shares of Impinj from $130.00 to $150.00 and gave the stock a buy rating in a research note on Thursday, March 14th. Evercore ISI started coverage on shares of Impinj in a research note on Tuesday, April 16th. They set an outperform rating and a $160.00 price target on the stock. Roth Mkm lifted their price target on shares of Impinj from $115.00 to $125.00 and gave the stock a buy rating in a research note on Thursday, March 14th. Finally, The Goldman Sachs Group boosted their target price on shares of Impinj from $89.00 to $115.00 and gave the company a buy rating in a research note on Friday, February 9th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $132.89.

Impinj Trading Down 3.0 %

Shares of PI stock opened at $150.91 on Thursday. Impinj has a 1 year low of $48.39 and a 1 year high of $156.41. The firm’s fifty day simple moving average is $119.23 and its 200 day simple moving average is $95.29. The company has a quick ratio of 5.59, a current ratio of 9.42 and a debt-to-equity ratio of 3.29.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, April 24th. The company reported ($0.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.14. Impinj had a negative net margin of 1.90% and a negative return on equity of 60.13%. The firm had revenue of $76.83 million for the quarter, compared to the consensus estimate of $73.57 million. Analysts expect that Impinj will post -0.62 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, COO Hussein Mecklai sold 30,000 shares of the company’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 transaction, the chief operating officer now owns 40,489 shares in the company, valued at approximately $4,243,247.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CFO Cary Baker sold 20,000 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $102.14, for a total transaction of $2,042,800.00. Following the transaction, the chief financial officer now owns 55,432 shares in the company, valued at approximately $5,661,824.48. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Hussein Mecklai sold 30,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $104.80, for a total value of $3,144,000.00. Following the sale, the chief operating officer now directly owns 40,489 shares of the company’s stock, valued at $4,243,247.20. The disclosure for this sale can be found here. Insiders have sold a total of 120,185 shares of company stock worth $12,767,674 in the last 90 days. Corporate insiders own 17.10% of the company’s stock.

Institutional Trading of Impinj

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its holdings in Impinj by 0.8% during the 3rd quarter. FMR LLC now owns 4,028,894 shares of the company’s stock worth $221,710,000 after purchasing an additional 31,289 shares during the last quarter. Sylebra Capital LLC bought a new stake in shares of Impinj in the 3rd quarter valued at about $217,290,000. Westfield Capital Management Co. LP increased its stake in shares of Impinj by 40.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,022,359 shares of the company’s stock valued at $56,260,000 after acquiring an additional 292,470 shares during the last quarter. Fred Alger Management LLC increased its stake in shares of Impinj by 249.6% in the 3rd quarter. Fred Alger Management LLC now owns 795,973 shares of the company’s stock valued at $43,802,000 after acquiring an additional 568,301 shares during the last quarter. Finally, Capital International Investors bought a new stake in shares of Impinj in the 4th quarter valued at about $68,211,000.

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.