Impinj (NASDAQ:PI) Price Target Raised to $245.00 at Needham & Company LLC

Impinj (NASDAQ:PI) had its price target lifted by equities research analysts at Needham & Company LLC from $195.00 to $245.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s target price suggests a potential upside of 10.13% from the stock’s current price.

PI has been the subject of a number of other research reports. Evercore ISI increased their price objective on Impinj from $172.00 to $205.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Susquehanna upped their target price on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a report on Monday. StockNews.com raised Impinj from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Lake Street Capital upped their price objective on shares of Impinj from $155.00 to $190.00 and gave the company a “buy” rating in a research note on Thursday, July 25th. Finally, Roth Mkm lifted their target price on shares of Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Impinj presently has a consensus rating of “Moderate Buy” and a consensus price target of $201.10.

Impinj Price Performance

PI opened at $222.46 on Thursday. The business has a 50 day moving average price of $195.01 and a two-hundred day moving average price of $168.26. The company has a market capitalization of $6.26 billion, a price-to-earnings ratio of 767.10 and a beta of 1.80. Impinj has a 1-year low of $48.39 and a 1-year high of $239.88.

Impinj (NASDAQ:PI) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.09. The business had revenue of $102.50 million during the quarter, compared to analyst estimates of $97.47 million. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The company’s revenue was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.14) earnings per share. Equities analysts expect that Impinj will post 0.31 EPS for the current fiscal year.

Insider Activity at Impinj

In other news, CEO Chris Ph.D. Diorio sold 1,498 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now directly owns 292,532 shares of the company’s stock, valued at approximately $61,174,291.84. This 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 link. In related news, CRO Jeffrey Dossett sold 488 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $237.84, for a total transaction of $116,065.92. Following the transaction, the executive now owns 65,294 shares of the company’s stock, valued at approximately $15,529,524.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Chris Ph.D. Diorio sold 1,498 shares of the business’s stock in a transaction that occurred on Tuesday, September 24th. The stock was 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 directly owns 292,532 shares of the company’s stock, valued at $61,174,291.84. This 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. Future Financial Wealth Managment LLC bought a new position in shares of Impinj in the 1st quarter valued at approximately $32,000. SouthState Corp acquired a new position in Impinj in the 2nd quarter valued at $94,000. nVerses Capital LLC lifted its position in Impinj by 75.0% during the 2nd quarter. nVerses Capital LLC now owns 700 shares of the company’s stock worth $110,000 after acquiring an additional 300 shares during the last quarter. Jamison Private Wealth Management Inc. boosted its holdings in Impinj by 211.2% during the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock valued at $127,000 after acquiring an additional 549 shares during the period. Finally, USA Financial Formulas grew its position in shares of Impinj by 82.0% in the third quarter. USA Financial Formulas now owns 657 shares of the company’s stock valued at $142,000 after purchasing an additional 296 shares during the last quarter.

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.