IMPINJ Inc (NYSE:PI)‘s stock had its “hold” rating reissued by stock analysts at KeyCorp in a research note issued on Wednesday. KeyCorp also issued estimates for IMPINJ’s Q2 2018 earnings at $0.05 EPS, Q3 2018 earnings at $0.06 EPS, Q4 2018 earnings at $0.09 EPS and FY2018 earnings at $0.14 EPS.
Several other brokerages also recently weighed in on PI. Needham & Company LLC increased their price target on shares of IMPINJ from $40.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, July 26th. Canaccord Genuity reiterated a “buy” rating and issued a $50.00 price target (down previously from $57.00) on shares of IMPINJ in a report on Friday, August 4th. Zacks Investment Research downgraded shares of IMPINJ from a “hold” rating to a “sell” rating in a report on Wednesday, August 9th. Morgan Stanley downgraded shares of IMPINJ from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $40.00 to $51.00 in a report on Monday, June 19th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $50.00 price target (up previously from $42.00) on shares of IMPINJ in a report on Sunday, May 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $45.67.
IMPINJ (NYSE PI) opened at 35.44 on Wednesday. IMPINJ has a 12-month low of $19.55 and a 12-month high of $60.85. The company’s 50-day moving average is $44.09 and its 200 day moving average is $39.34. The stock’s market capitalization is $739.28 million.
IMPINJ (NYSE:PI) last issued its quarterly earnings results on Thursday, August 3rd. The company reported $0.06 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.04. IMPINJ had a negative net margin of 2.86% and a negative return on equity of 3.11%. The company had revenue of $34.10 million for the quarter, compared to the consensus estimate of $33.41 million. During the same quarter in the prior year, the company earned $0.06 EPS. IMPINJ’s quarterly revenue was up 31.2% on a year-over-year basis. On average, equities research analysts expect that IMPINJ will post $0.06 earnings per share for the current fiscal year.
In other IMPINJ news, insider Eric Brodersen sold 7,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $46.93, for a total value of $328,510.00. Following the sale, the insider now owns 115,043 shares in the company, valued at approximately $5,398,967.99. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Evan Fein sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $53.19, for a total value of $531,900.00. Following the completion of the sale, the chief financial officer now owns 21,100 shares in the company, valued at approximately $1,122,309. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,500 shares of company stock worth $1,812,375.
Large investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its stake in IMPINJ by 1,261.0% in the second quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock valued at $102,000 after buying an additional 1,942 shares in the last quarter. American International Group Inc. bought a new stake in IMPINJ during the first quarter valued at approximately $112,000. First Washington CORP bought a new stake in IMPINJ during the first quarter valued at approximately $122,000. Nordea Investment Management AB bought a new stake in IMPINJ during the first quarter valued at approximately $127,000. Finally, ClariVest Asset Management LLC bought a new stake in IMPINJ during the first quarter valued at approximately $127,000.
IMPINJ Company Profile
Impinj, Inc is a provider of RAIN radio frequency identification (RFID) solutions. The Company sells a platform that includes endpoint integrated circuits (ICs), reader ICs, readers and gateways that enable wireless connectivity to everyday items, and software that delivers Item Intelligence from endpoint reads.
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