Lake Street Capital Boosts Impinj (NASDAQ:PI) Price Target to $251.00

Impinj (NASDAQ:PI) had its price target raised by stock analysts at Lake Street Capital from $190.00 to $251.00 in a research report issued on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Lake Street Capital’s target price indicates a potential upside of 29.80% from the company’s current price.

Several other brokerages also recently commented on PI. Roth Mkm increased their price objective on shares of Impinj from $145.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Needham & Company LLC increased their price objective on shares of Impinj from $195.00 to $245.00 and gave the company a “buy” rating in a research report on Thursday. Piper Sandler reissued an “overweight” rating and set a $235.00 price objective (up from $225.00) on shares of Impinj in a research report on Thursday. Cantor Fitzgerald reissued an “overweight” rating and set a $205.00 price objective on shares of Impinj in a research report on Thursday, July 25th. Finally, Evercore ISI reissued an “outperform” rating and set a $270.00 price objective (up from $205.00) on shares of Impinj in a research report on Thursday. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $214.70.

Impinj Price Performance

PI traded down $29.09 on Thursday, hitting $193.37. The company had a trading volume of 1,118,884 shares, compared to its average volume of 461,048. Impinj has a 52-week low of $48.39 and a 52-week high of $239.88. The stock has a fifty day simple moving average of $195.01 and a 200-day simple moving average of $168.26. The firm has a market capitalization of $5.44 billion, a P/E ratio of 666.79 and a beta of 1.80.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.83 EPS for the quarter, topping the consensus estimate of $0.74 by $0.09. The business had revenue of $102.50 million during the quarter, compared to analyst estimates of $97.47 million. Impinj had a net margin of 3.93% and a negative return on equity of 21.12%. Impinj’s quarterly revenue was up 19.2% compared to the same quarter last year. During the same period last year, the business posted ($0.14) earnings per share. Equities research analysts expect that Impinj will post 0.31 earnings per share for the current fiscal year.

Insider Transactions at Impinj

In other Impinj news, CEO Chris Ph.D. Diorio sold 1,498 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $209.12, for a total transaction of $313,261.76. Following the sale, the chief executive officer now owns 292,532 shares in the company, valued at approximately $61,174,291.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Impinj news, insider Cathal G. Phelan sold 209 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $209.15, for a total transaction of $43,712.35. Following the sale, the insider now owns 17,647 shares in the company, valued at approximately $3,690,870.05. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Chris Ph.D. Diorio sold 1,498 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $209.12, for a total transaction of $313,261.76. Following the sale, the chief executive officer now owns 292,532 shares in the company, valued at approximately $61,174,291.84. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,779 shares of company stock worth $3,825,046 in the last quarter. Company insiders own 51.00% of the company’s stock.

Institutional Investors Weigh In On Impinj

A number of institutional investors have recently added to or reduced their stakes in PI. Future Financial Wealth Managment LLC purchased a new stake in Impinj during the 1st quarter valued at approximately $32,000. SouthState Corp purchased a new stake in Impinj during the 2nd quarter valued at approximately $94,000. nVerses Capital LLC grew its holdings in shares of Impinj by 75.0% in the second quarter. nVerses Capital LLC now owns 700 shares of the company’s stock valued at $110,000 after purchasing an additional 300 shares in the last quarter. Jamison Private Wealth Management Inc. grew its holdings in shares of Impinj by 211.2% in the second quarter. Jamison Private Wealth Management Inc. now owns 809 shares of the company’s stock valued at $127,000 after purchasing an additional 549 shares in the last quarter. Finally, USA Financial Formulas grew its holdings in shares of Impinj by 82.0% in the third quarter. USA Financial Formulas now owns 657 shares of the company’s stock valued at $142,000 after purchasing an additional 296 shares in 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.