Impinj (NASDAQ:PI) Issues Q4 Earnings Guidance

Impinj (NASDAQ:PI) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.45-$0.49 for the period, compared to the consensus earnings per share estimate of $0.40. The company issued revenue guidance of $91.0-$94.0 million, compared to the consensus revenue estimate of $90.06 million. Impinj also updated its Q4 2024 guidance to 0.450-0.490 EPS.

Analyst Upgrades and Downgrades

PI has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating and set a $195.00 price target on shares of Impinj in a research note on Thursday, July 25th. Cantor Fitzgerald restated an “overweight” rating and set a $205.00 target price on shares of Impinj in a research report on Thursday, July 25th. Susquehanna upped their price target on shares of Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research report on Monday. StockNews.com raised shares of Impinj from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Finally, Evercore ISI lifted their price objective on shares of Impinj from $172.00 to $205.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $196.10.

Impinj Price Performance

PI traded down $1.04 during trading on Wednesday, reaching $222.46. 833,291 shares of the stock were exchanged, compared to its average volume of 457,829. The company has a market capitalization of $6.26 billion, a price-to-earnings ratio of 777.97 and a beta of 1.80. Impinj has a 1 year low of $48.39 and a 1 year high of $239.88. The business’s 50 day moving average price is $193.65 and its two-hundred day moving average price is $167.88.

Impinj (NASDAQ:PI) last announced its quarterly earnings results on Wednesday, July 24th. The company reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.09. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. The company had revenue of $102.50 million for the quarter, compared to the consensus estimate of $97.47 million. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. The company’s revenue for the quarter was up 19.2% compared to the same quarter last year. On average, analysts anticipate that Impinj will post 0.31 EPS for the current year.

Insider Activity at Impinj

In other news, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was acquired at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the completion of the transaction, the insider now directly owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Chris Ph.D. Diorio sold 1,498 shares of the company’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $209.12, for a total transaction of $313,261.76. Following the completion of the transaction, the chief executive officer now owns 292,532 shares of the company’s stock, valued at $61,174,291.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Sylebra Capital Llc acquired 4,264,393 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were bought at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the completion of the acquisition, the insider now owns 33,050,456 shares in the company, valued at approximately $155,006,638.64. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders sold 21,779 shares of company stock valued at $3,825,046. 51.00% of the stock is owned by insiders.

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.