Impinj (NASDAQ:PI) Price Target Raised to $190.00 at Lake Street Capital

Impinj (NASDAQ:PI) had its target price upped by Lake Street Capital from $155.00 to $190.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on PI. Needham & Company LLC reaffirmed a buy rating and issued a $195.00 target price on shares of Impinj in a research note on Thursday. Jefferies Financial Group began coverage on Impinj in a report on Monday, May 13th. They set a buy rating and a $200.00 price objective for the company. StockNews.com downgraded Impinj from a hold rating to a sell rating in a research report on Tuesday, May 21st. Piper Sandler raised their price target on shares of Impinj from $150.00 to $180.00 and gave the stock an overweight rating in a research note on Thursday, July 11th. Finally, Roth Mkm boosted their price objective on shares of Impinj from $145.00 to $175.00 and gave the stock a buy rating in a research report on Thursday. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $187.10.

Impinj Price Performance

Shares of PI stock opened at $160.06 on Thursday. The stock has a 50-day moving average of $160.69 and a 200-day moving average of $134.63. Impinj has a one year low of $48.39 and a one year high of $181.88. The stock has a market cap of $4.44 billion, a PE ratio of -457.31 and a beta of 1.78.

Impinj (NASDAQ:PI) last posted its earnings results on Wednesday, July 24th. The company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.09. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The business had revenue of $102.50 million during the quarter, compared to analysts’ expectations of $97.47 million. During the same period in the prior year, the business earned ($0.14) EPS. Impinj’s revenue for the quarter was up 19.2% compared to the same quarter last year. As a group, research analysts anticipate that Impinj will post 0.12 earnings per share for the current year.

Insider Buying and Selling at Impinj

In related news, CFO Cary Baker sold 10,000 shares of Impinj stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $159.08, for a total transaction of $1,590,800.00. Following the completion of the transaction, the chief financial officer now owns 67,948 shares in the company, valued at $10,809,167.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO Hussein Mecklai sold 416 shares of the stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $175.43, for a total value of $72,978.88. Following the transaction, the chief operating officer now directly owns 58,104 shares of the company’s stock, valued at $10,193,184.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Cary Baker sold 10,000 shares of Impinj stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $159.08, for a total transaction of $1,590,800.00. Following the sale, the chief financial officer now directly owns 67,948 shares of the company’s stock, valued at approximately $10,809,167.84. The disclosure for this sale can be found here. Insiders sold a total of 1,049,835 shares of company stock worth $160,809,437 over the last quarter. 51.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Impinj

A number of large investors have recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. lifted its position in shares of Impinj by 10.6% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 29,409 shares of the company’s stock valued at $2,648,000 after acquiring an additional 2,830 shares during the period. Griffin Asset Management Inc. bought a new position in Impinj in the 4th quarter valued at approximately $261,000. Avitas Wealth Management LLC bought a new position in Impinj in the 4th quarter valued at approximately $238,000. Wealth Effects LLC boosted its position in Impinj by 16.3% in the fourth quarter. Wealth Effects LLC now owns 14,995 shares of the company’s stock valued at $1,350,000 after buying an additional 2,100 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Impinj by 2.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,128 shares of the company’s stock worth $462,000 after buying an additional 115 shares during the last quarter.

Impinj Company Profile

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.