Susquehanna Raises Impinj (NASDAQ:PI) Price Target to $260.00

by · The Markets Daily

Impinj (NASDAQ:PI – Get Free Report) had its price objective raised by Susquehanna from $215.00 to $260.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has a “positive” rating on the stock. Susquehanna’s target price would suggest a potential upside of 19.10% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Roth Mkm raised their price objective on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Lake Street Capital lifted their price target on shares of Impinj from $155.00 to $190.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Cantor Fitzgerald restated an “overweight” rating and set a $205.00 price objective on shares of Impinj in a report on Thursday, July 25th. StockNews.com upgraded Impinj from a “sell” rating to a “hold” rating in a report on Friday, July 26th. Finally, Piper Sandler restated an “overweight” rating and set a $225.00 price target (up from $180.00) on shares of Impinj in a research note on Friday, September 27th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, Impinj currently has an average rating of “Moderate Buy” and a consensus target price of $196.10.

Get Our Latest Stock Analysis on Impinj

Impinj Stock Performance

Shares of NASDAQ:PI opened at $218.30 on Monday. The business’s fifty day moving average price is $190.77 and its two-hundred day moving average price is $166.39. The stock has a market cap of $6.05 billion, a PE ratio of -623.71 and a beta of 1.80. Impinj has a one year low of $48.39 and a one year high of $239.88.

Impinj (NASDAQ:PI – Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 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 firm had revenue of $102.50 million during the quarter, compared to analysts’ expectations of $97.47 million. During the same quarter last year, the business posted ($0.14) EPS. The firm’s quarterly revenue was up 19.2% compared to the same quarter last year. As a group, equities research analysts predict that Impinj will post 0.31 earnings per share for the current fiscal year.

Insider Transactions at Impinj

In related news, CRO Jeffrey Dossett sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $157.81, for a total transaction of $2,367,150.00. Following the sale, the executive now directly owns 63,642 shares in the company, valued at approximately $10,043,344.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CRO Jeffrey Dossett sold 15,000 shares of Impinj stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $157.81, for a total transaction of $2,367,150.00. Following the sale, the executive now owns 63,642 shares of the company’s stock, valued at $10,043,344.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Cathal G. Phelan sold 209 shares of the business’s stock in a transaction on Tuesday, September 24th. The stock was sold at an average price of $209.15, for a total transaction of $43,712.35. Following the completion of the transaction, the insider now owns 17,647 shares in the company, valued at $3,690,870.05. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,779 shares of company stock valued at $3,825,046 over the last quarter. Company insiders own 51.00% of the company’s stock.

Institutional Investors Weigh In On Impinj

Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC purchased a new position in shares of Impinj during the 1st quarter valued at approximately $513,000. TimesSquare Capital Management LLC acquired a new position in Impinj during the 1st quarter worth $19,195,000. Harbor Capital Advisors Inc. increased its position in shares of Impinj by 112.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 13,533 shares of the company’s stock worth $2,122,000 after purchasing an additional 7,151 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Impinj by 13.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,111 shares of the company’s stock valued at $7,990,000 after buying an additional 7,247 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Impinj by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 2,510,583 shares of the company’s stock valued at $322,384,000 after acquiring an additional 35,893 shares in the last quarter.

Impinj Company Profile

(Get Free Report)

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.

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