Roth Capital Predicts Impinj’s FY2024 Earnings (NASDAQ:PI)

Impinj, Inc. (NASDAQ:PI) – Equities researchers at Roth Capital issued their FY2024 EPS estimates for shares of Impinj in a research report issued on Monday, January 20th. Roth Capital analyst S. Searle anticipates that the company will post earnings per share of $0.44 for the year. The consensus estimate for Impinj’s current full-year earnings is $0.44 per share. Roth Capital also issued estimates for Impinj’s Q1 2025 earnings at $0.03 EPS.

Other analysts also recently issued reports about the company. Cantor Fitzgerald raised their price target on Impinj from $205.00 to $260.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. The Goldman Sachs Group raised their target price on shares of Impinj from $165.00 to $200.00 and gave the stock a “neutral” rating in a report on Friday, October 25th. Evercore ISI reiterated an “outperform” rating and set a $270.00 price target (up from $205.00) on shares of Impinj in a report on Thursday, October 24th. Lake Street Capital raised their price objective on shares of Impinj from $190.00 to $251.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Needham & Company LLC cut their target price on Impinj from $245.00 to $182.00 and set a “buy” rating on the stock in a research note on Friday, January 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $214.30.

Impinj Stock Performance

Shares of Impinj stock opened at $136.21 on Thursday. The stock has a market cap of $3.85 billion, a price-to-earnings ratio of 153.04 and a beta of 1.88. The stock has a 50 day moving average price of $158.20 and a 200-day moving average price of $175.41. Impinj has a one year low of $95.96 and a one year high of $239.88.

Impinj (NASDAQ:PI) last issued its quarterly earnings data on Wednesday, October 23rd. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.08. The company had revenue of $95.20 million for the quarter, compared to analysts’ expectations of $92.86 million. Impinj had a negative return on equity of 1.64% and a net margin of 8.21%. The firm’s revenue for the quarter was up 46.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.36) earnings per share.

Institutional Trading of Impinj

Hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC lifted its stake in shares of Impinj by 1.5% during the 3rd quarter. FMR LLC now owns 4,217,403 shares of the company’s stock worth $913,152,000 after purchasing an additional 60,461 shares during the last quarter. State Street Corp raised its holdings in Impinj by 25.7% in the third quarter. State Street Corp now owns 1,078,676 shares of the company’s stock worth $233,555,000 after purchasing an additional 220,776 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Impinj by 1.4% during the third quarter. Geode Capital Management LLC now owns 542,924 shares of the company’s stock valued at $117,576,000 after buying an additional 7,676 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of Impinj by 15.0% in the 3rd quarter. Jennison Associates LLC now owns 239,140 shares of the company’s stock valued at $51,779,000 after buying an additional 31,269 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Impinj by 3.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 193,240 shares of the company’s stock worth $41,840,000 after buying an additional 6,232 shares during the last quarter.

Insider Activity at Impinj

In other Impinj news, CFO Cary Baker sold 15,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $204.90, for a total transaction of $3,073,500.00. Following the transaction, the chief financial officer now owns 71,096 shares of the company’s stock, valued at approximately $14,567,570.40. This trade represents a 17.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Sylebra Capital Llc sold 32,031 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $195.35, for a total transaction of $6,257,255.85. Following the completion of the sale, the insider now owns 3,021,548 shares of the company’s stock, valued at approximately $590,259,401.80. This represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 655,038 shares of company stock worth $131,064,693. Company 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.