Impinj (NASDAQ:PI) Upgraded to “Strong-Buy” at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Impinj (NASDAQ:PI) to a strong-buy rating in a research report sent to investors on Thursday morning,Zacks.com reports.

Several other brokerages have also weighed in on PI. Susquehanna lowered their target price on shares of Impinj from $260.00 to $220.00 and set a “positive” rating on the stock in a research report on Wednesday, January 22nd. Piper Sandler dropped their price objective on Impinj from $235.00 to $140.00 and set an “overweight” rating for the company in a research note on Thursday, February 6th. StockNews.com downgraded Impinj from a “hold” rating to a “sell” rating in a research report on Friday, January 24th. The Goldman Sachs Group dropped their price target on Impinj from $200.00 to $132.00 and set a “neutral” rating for the company in a research report on Thursday, February 6th. Finally, Needham & Company LLC lowered their price objective on shares of Impinj from $182.00 to $130.00 and set a “buy” rating on the stock in a research note on Thursday, February 6th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $180.10.

Impinj Stock Down 5.1 %

NASDAQ PI opened at $91.41 on Thursday. Impinj has a 52-week low of $91.41 and a 52-week high of $239.88. The firm has a 50-day moving average price of $127.98 and a 200 day moving average price of $167.21. The stock has a market capitalization of $2.61 billion, a P/E ratio of 67.21 and a beta of 1.88.

Impinj (NASDAQ:PI) last posted its quarterly earnings results on Wednesday, February 5th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.49). Impinj had a net margin of 11.15% and a return on equity of 7.11%. On average, equities research analysts expect that Impinj will post -0.47 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Chris Ph.D. Diorio sold 8,334 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $98.78, for a total transaction of $823,232.52. Following the completion of the sale, the chief executive officer now directly owns 354,076 shares of the company’s stock, valued at $34,975,627.28. The trade was a 2.30 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Cathal G. Phelan sold 210 shares of the company’s stock in a transaction on Tuesday, December 24th. The stock was sold at an average price of $146.06, for a total value of $30,672.60. Following the sale, the insider now owns 6,979 shares of the company’s stock, valued at approximately $1,019,352.74. The trade was a 2.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 22,323 shares of company stock valued at $2,454,588 over the last 90 days. Insiders own 51.00% of the company’s stock.

Institutional Investors Weigh In On Impinj

Several institutional investors and hedge funds have recently added to or reduced their stakes in PI. Hillsdale Investment Management Inc. raised its stake in shares of Impinj by 0.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 24,685 shares of the company’s stock valued at $3,586,000 after acquiring an additional 95 shares during the period. Louisiana State Employees Retirement System boosted its position in shares of Impinj by 0.9% in the fourth quarter. Louisiana State Employees Retirement System now owns 11,100 shares of the company’s stock worth $1,612,000 after buying an additional 100 shares during the period. Mercer Global Advisors Inc. ADV grew its stake in shares of Impinj by 6.9% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 1,641 shares of the company’s stock valued at $238,000 after buying an additional 106 shares in the last quarter. National Bank of Canada FI purchased a new stake in shares of Impinj during the 3rd quarter valued at about $30,000. Finally, Farther Finance Advisors LLC boosted its holdings in Impinj by 1,084.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 154 shares of the company’s stock worth $33,000 after acquiring an additional 141 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.