IMPINJ (PI) Price Target Raised to $32.00

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IMPINJ (NASDAQ:PI) had its target price increased by Piper Jaffray Companies from $28.00 to $32.00 in a research report released on Tuesday, The Fly reports. The firm currently has an overweight rating on the stock.

A number of other equities research analysts have also recently commented on PI. Zacks Investment Research cut IMPINJ from a buy rating to a hold rating in a research note on Wednesday, January 2nd. ValuEngine cut IMPINJ from a buy rating to a hold rating in a research note on Wednesday, January 2nd. Finally, BidaskClub upgraded IMPINJ from a sell rating to a hold rating in a research note on Saturday, January 12th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. IMPINJ has a consensus rating of Buy and a consensus price target of $31.25.

IMPINJ stock traded down $0.18 during midday trading on Tuesday, reaching $28.50. The company’s stock had a trading volume of 15,850 shares, compared to its average volume of 252,454. The company has a debt-to-equity ratio of 0.17, a quick ratio of 3.32 and a current ratio of 4.79. IMPINJ has a 52-week low of $12.08 and a 52-week high of $31.10. The stock has a market cap of $600.43 million, a PE ratio of -41.88 and a beta of 2.80.

IMPINJ (NASDAQ:PI) last released its quarterly earnings results on Monday, April 29th. The company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.15. IMPINJ had a negative return on equity of 12.32% and a negative net margin of 21.33%. The company had revenue of $33.10 million during the quarter, compared to analysts’ expectations of $31.08 million. During the same period last year, the business posted ($0.38) earnings per share. The firm’s revenue was up 31.9% compared to the same quarter last year. As a group, sell-side analysts predict that IMPINJ will post -0.69 EPS for the current fiscal year.

In other news, CEO Chris Ph.D. Diorio sold 10,000 shares of the firm’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $20.00, for a total value of $200,000.00. Following the completion of the transaction, the chief executive officer now directly owns 325,478 shares in the company, valued at $6,509,560. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 26.00% of the company’s stock.

Large investors have recently made changes to their positions in the company. BlackRock Inc. grew its holdings in IMPINJ by 1.3% during the fourth quarter. BlackRock Inc. now owns 1,138,180 shares of the company’s stock worth $16,560,000 after acquiring an additional 14,164 shares during the period. Toronado Partners LLC acquired a new stake in IMPINJ during the fourth quarter worth about $8,987,000. D. E. Shaw & Co. Inc. grew its holdings in IMPINJ by 33.1% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 355,425 shares of the company’s stock worth $5,171,000 after acquiring an additional 88,314 shares during the period. 361 Capital LLC acquired a new stake in IMPINJ during the fourth quarter worth about $1,885,000. Finally, Barclays PLC grew its holdings in IMPINJ by 11.1% during the fourth quarter. Barclays PLC now owns 126,411 shares of the company’s stock worth $1,840,000 after acquiring an additional 12,633 shares during the period. Hedge funds and other institutional investors own 65.83% of the company’s stock.

IMPINJ Company Profile

Impinj, Inc operates a platform that enables wireless connectivity for everyday items by delivering each item's unique identity, location, and authenticity to business and consumer applications. Its integrated platform connects everyday items to applications, delivering real-time information to businesses about items they create, manage, transport, and sell.

See Also: Return on Equity (ROE)

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