Susquehanna Raises Impinj (NASDAQ:PI) Price Target to $260.00

Impinj (NASDAQ:PI) had its price objective raised by Susquehanna from $215.00 to $260.00 in a research report released on Monday morning, Benzinga reports. The firm currently has a positive rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Cantor Fitzgerald restated an “overweight” rating and issued a $205.00 target price on shares of Impinj in a report on Thursday, July 25th. StockNews.com raised Impinj from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Piper Sandler restated an “overweight” rating and set a $225.00 price objective (up previously from $180.00) on shares of Impinj in a report on Friday, September 27th. Lake Street Capital raised their target price on shares of Impinj from $155.00 to $190.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Needham & Company LLC restated a “buy” rating and set a $195.00 price target on shares of Impinj in a report on Thursday, July 25th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $220.20.

Impinj Stock Down 13.6 %

NASDAQ:PI opened at $192.21 on Monday. Impinj has a 52-week low of $48.39 and a 52-week high of $239.88. The firm has a market cap of $5.40 billion, a P/E ratio of 662.79 and a beta of 1.80. The business’s 50-day moving average price is $195.60 and its 200 day moving average price is $168.43.

Impinj (NASDAQ:PI) last released its earnings results on Wednesday, October 23rd. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.08. The business had revenue of $95.20 million for the quarter, compared to the consensus estimate of $92.86 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 46.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.36) EPS. Sell-side analysts expect that Impinj will post 0.31 EPS for the current year.

Insider Activity at Impinj

In other Impinj news, CEO Chris Ph.D. Diorio sold 1,498 shares of the stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $209.12, for a total value of $313,261.76. Following the completion of the sale, the chief executive officer now owns 292,532 shares in the company, valued at $61,174,291.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CRO Jeffrey Dossett sold 488 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $237.84, for a total value of $116,065.92. Following the transaction, the executive now owns 65,294 shares in the company, valued at approximately $15,529,524.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Chris Ph.D. Diorio sold 1,498 shares of Impinj stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $209.12, for a total transaction of $313,261.76. Following the completion of the sale, the chief executive officer now owns 292,532 shares of the company’s stock, valued at $61,174,291.84. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 21,779 shares of company stock valued at $3,825,046. Corporate insiders own 51.00% of the company’s stock.

Institutional Investors Weigh In On Impinj

Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in Impinj in the 1st quarter worth approximately $513,000. TimesSquare Capital Management LLC acquired a new stake in shares of Impinj in the first quarter worth $19,195,000. Harbor Capital Advisors Inc. boosted its holdings in shares of Impinj by 112.0% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 13,533 shares of the company’s stock worth $2,122,000 after buying an additional 7,151 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Impinj by 13.0% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company’s stock valued at $7,990,000 after buying an additional 7,247 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Impinj by 1.5% in the 1st 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 period.

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.