IMPINJ’s (PI) Outperform Rating Reaffirmed at Royal Bank Of Canada

Royal Bank Of Canada restated their outperform rating on shares of IMPINJ Inc (NYSE:PI) in a research report released on Saturday, July 22nd.

Several other equities analysts also recently weighed in on the company. Zacks Investment Research downgraded IMPINJ from a hold rating to a sell rating in a research report on Wednesday, July 19th. KeyCorp downgraded IMPINJ to a hold rating in a research report on Tuesday, June 27th. Morgan Stanley downgraded IMPINJ from an overweight rating to an equal weight rating and raised their target price for the company from $40.00 to $51.00 in a research report on Monday, June 19th. Finally, Canaccord Genuity restated a buy rating and issued a $38.00 target price on shares of IMPINJ in a research report on Friday, May 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. IMPINJ currently has an average rating of Buy and a consensus target price of $43.63.

Shares of IMPINJ (NYSE:PI) traded up 2.95% during mid-day trading on Friday, hitting $31.44. The stock had a trading volume of 570,803 shares. The firm has a 50 day moving average of $45.87 and a 200-day moving average of $39.41. IMPINJ has a one year low of $19.55 and a one year high of $60.85. The stock’s market cap is $655.84 million.

IMPINJ (NYSE:PI) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.02 by $0.04. The company had revenue of $34.10 million for the quarter, compared to analyst estimates of $33.41 million. IMPINJ had a negative return on equity of 3.11% and a negative net margin of 2.86%. IMPINJ’s quarterly revenue was up 31.2% compared to the same quarter last year. During the same period last year, the company earned $0.06 earnings per share. Equities research analysts expect that IMPINJ will post $0.06 earnings per share for the current fiscal year.

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In other IMPINJ news, insider Eric Brodersen sold 7,000 shares of IMPINJ stock in a transaction on Tuesday, July 18th. The stock was sold at an average price of $53.23, for a total value of $372,610.00. Following the sale, the insider now owns 106,743 shares in the company, valued at $5,681,929.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Evan Fein sold 9,000 shares of IMPINJ stock in a transaction on Thursday, June 1st. The shares were sold at an average price of $43.68, for a total value of $393,120.00. Following the completion of the sale, the chief financial officer now owns 19,000 shares in the company, valued at approximately $829,920. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,666 shares of company stock worth $2,876,162.

A number of large investors have recently bought and sold shares of PI. Mesirow Financial Investment Management Equity Management acquired a new stake in IMPINJ during the first quarter worth approximately $411,000. Pier 88 Investment Partners LLC purchased a new stake in shares of IMPINJ during the first quarter worth $432,000. Sigma Planning Corp boosted its stake in shares of IMPINJ by 90.9% in the first quarter. Sigma Planning Corp now owns 20,581 shares of the company’s stock worth $623,000 after buying an additional 9,800 shares during the last quarter. Nationwide Fund Advisors boosted its stake in shares of IMPINJ by 619.3% in the first quarter. Nationwide Fund Advisors now owns 26,118 shares of the company’s stock worth $791,000 after buying an additional 22,487 shares during the last quarter. Finally, Capital Impact Advisors LLC purchased a new stake in shares of IMPINJ during the first quarter worth $1,643,000.

About IMPINJ

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.

Analyst Recommendations for IMPINJ (NYSE:PI)

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