Impinj (NASDAQ:PI) Updates Q4 2024 Earnings Guidance

Impinj (NASDAQ:PI) issued an update on its fourth quarter 2024 earnings guidance on Wednesday morning. The company provided earnings per share guidance of 0.450-0.490 for the period, compared to the consensus earnings per share estimate of 0.400. The company issued revenue guidance of $91.0 million-$94.0 million, compared to the consensus revenue estimate of $90.1 million. Impinj also updated its Q4 guidance to $0.45-$0.49 EPS.

Impinj Trading Down 0.5 %

NASDAQ:PI traded down $1.04 on Wednesday, hitting $222.46. 833,291 shares of the company’s stock traded hands, compared to its average volume of 457,829. Impinj has a 1 year low of $48.39 and a 1 year high of $239.88. The firm has a 50-day moving average price of $193.65 and a 200-day moving average price of $167.88. The company has a market cap of $6.26 billion, a PE ratio of 777.97 and a beta of 1.80.

Impinj (NASDAQ:PI) last announced 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. The firm had revenue of $102.50 million during the quarter, compared to analysts’ expectations of $97.47 million. Impinj had a negative return on equity of 21.12% and a net margin of 3.93%. The company’s revenue was up 19.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.14) earnings per share. On average, research analysts forecast that Impinj will post 0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on PI shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $205.00 price objective on shares of Impinj in a research note on Thursday, July 25th. Needham & Company LLC reiterated a “buy” rating and set a $195.00 price objective on shares of Impinj in a research note on Thursday, July 25th. Roth Mkm increased their price objective on Impinj from $145.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Susquehanna raised their target price on Impinj from $215.00 to $260.00 and gave the company a “positive” rating in a research note on Monday. Finally, StockNews.com upgraded Impinj from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $196.10.

Insider Activity

In other Impinj news, 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 acquired at an average price of $4.69 per share, for a total transaction of $20,000,003.17. Following the acquisition, the insider now directly owns 33,050,456 shares of the company’s stock, valued at approximately $155,006,638.64. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, major shareholder Sylebra Capital Llc bought 4,264,393 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were acquired at an average price of $4.69 per share, with a total value of $20,000,003.17. Following the transaction, the insider now owns 33,050,456 shares in the company, valued at $155,006,638.64. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Cathal G. Phelan sold 209 shares of Impinj stock in a transaction that occurred on Tuesday, September 24th. The shares were sold at an average price of $209.15, for a total value of $43,712.35. Following the completion of the sale, the insider now directly owns 17,647 shares in the company, valued at approximately $3,690,870.05. This represents 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 90 days. Corporate insiders own 51.00% of the company’s stock.

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.