Key Points
- Director Meera Rao sold 1,729 Impinj shares for approximately $348,566 at an average price of $201.60 under a pre-arranged Rule 10b5-1 plan, reducing her ownership by 15.27%.
- Impinj exceeded third-quarter expectations, reporting $0.69 in EPS and $112.1 million in revenue, while issuing fourth-quarter guidance above Wall Street forecasts.
- Analysts generally remain positive, with several raising price targets, but valuation remains a major risk as the stock carries a very high P/E ratio and mixed analyst views.
Impinj, Inc. (NASDAQ:PI - Get Free Report) Director Meera Rao sold 1,729 shares of the company's stock in a transaction that occurred on Thursday, October 29th. The stock was sold at an average price of $201.60, for a total transaction of $348,566.40. Following the sale, the director owned 9,593 shares in the company, valued at $1,933,948.80. The trade was a 15.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Impinj Stock Down 1.6%
Shares of Impinj stock opened at $179.66 on Friday. Impinj, Inc. has a 52-week low of $87.36 and a 52-week high of $215.25. The company has a 50 day moving average of $176.87 and a 200 day moving average of $144.35. The company has a quick ratio of 2.29, a current ratio of 9.42 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $5.54 billion, a P/E ratio of 380.31 and a beta of 1.94.
Impinj (NASDAQ:PI - Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.08. The business had revenue of $112.08 million during the quarter, compared to analysts' expectations of $107.16 million. Impinj had a negative net margin of 2.45% and a positive return on equity of 6.65%. The company's revenue for the quarter was up 16.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.58 EPS. As a group, research analysts forecast that Impinj, Inc. will post 0.37 EPS for the current fiscal year.
Impinj News Roundup
Here are the key news stories impacting Impinj this week:
- Positive Sentiment: Q3 earnings and revenue beat expectations. Impinj reported earnings of $0.69 per share, above the $0.61 consensus estimate and up from $0.58 a year earlier. Revenue reached approximately $112.1 million, exceeding the $107.2 million forecast and increasing 16.7% year over year. Impinj Q3 Earnings and Revenues Beat Estimates
- Positive Sentiment: Fourth-quarter guidance was well above Wall Street expectations. Impinj forecast adjusted EPS of $0.55-$0.60, compared with the consensus estimate of a $0.04 loss, and revenue of $104 million-$107 million versus expectations of $99.3 million. Management cited strong M800 endpoint IC demand and a ramp in back-end production capacity. Impinj Q4 Outlook
- Positive Sentiment: Analysts raised their targets. Susquehanna lifted its target to $225 and assigned a positive rating, while Needham raised its target to $195 and maintained a buy rating. These actions reflect improved confidence in Impinj’s growth and margin expansion prospects.
- Neutral Sentiment: Analyst opinion remains mixed. UBS raised its target modestly to $180 but retained a neutral rating. Another analyst upgraded Impinj from bearish to hold, acknowledging improving revenue growth while warning that valuation remains demanding.
- Negative Sentiment: Valuation is a key risk. Impinj trades near the upper end of its annual range, with a very high price-to-earnings multiple and limited room for execution disappointments. The wide gap between analyst targets also signals uncertainty over how much of the expected growth is already reflected in PI shares.
Analyst Ratings Changes
A number of analysts have issued reports on PI shares. Susquehanna lifted their price target on Impinj from $175.00 to $225.00 and gave the stock a "positive" rating in a report on Thursday. Jefferies Financial Group increased their price objective on Impinj from $190.00 to $220.00 and gave the company a "buy" rating in a report on Thursday. UBS Group raised their target price on Impinj from $175.00 to $180.00 and gave the stock a "neutral" rating in a research report on Thursday. Barclays boosted their target price on Impinj from $176.00 to $200.00 and gave the stock an "overweight" rating in a research note on Monday, October 12th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $200.00 target price on shares of Impinj in a research note on Thursday, July 30th. Seven investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $194.40.
Get Our Latest Stock Analysis on PI
Institutional Investors Weigh In On Impinj
Several hedge funds and other institutional investors have recently bought and sold shares of PI. Signaturefd LLC grew its stake in shares of Impinj by 72.3% in the 3rd quarter. Signaturefd LLC now owns 162 shares of the company's stock valued at $29,000 after buying an additional 68 shares in the last quarter. Arizona State Retirement System raised its position in Impinj by 1.6% during the second quarter. Arizona State Retirement System now owns 7,984 shares of the company's stock valued at $1,144,000 after acquiring an additional 128 shares in the last quarter. SFE Investment Counsel raised its position in Impinj by 4.6% during the first quarter. SFE Investment Counsel now owns 3,525 shares of the company's stock valued at $362,000 after acquiring an additional 155 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Impinj by 5.4% during the first quarter. PNC Financial Services Group Inc. now owns 3,081 shares of the company's stock valued at $316,000 after acquiring an additional 157 shares in the last quarter. Finally, TOP Private Wealth LLC. acquired a new stake in Impinj in the second quarter valued at approximately $25,000.
About Impinj
(
Get Free Report)
Impinj, Inc (NASDAQ: PI) develops technology for the Internet of Things (IoT) based on RAIN RFID, a wireless technology used to identify, locate and authenticate individual items. Its platform is designed to connect physical products, packages and assets to digital systems, helping organizations collect real-time information throughout supply chains and business operations.
The company offers a portfolio of RAIN RFID endpoint integrated circuits, reader chips, RFID readers and gateways, antennas, and cloud and software solutions.
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