$37.90 Million in Sales Expected for IMPINJ Inc (NASDAQ:PI) This Quarter

Analysts predict that IMPINJ Inc (NASDAQ:PI) will report $37.90 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for IMPINJ’s earnings, with estimates ranging from $37.80 million to $38.00 million. IMPINJ reported sales of $34.62 million in the same quarter last year, which indicates a positive year over year growth rate of 9.5%. The business is expected to announce its next quarterly earnings results on Wednesday, February 19th.

According to Zacks, analysts expect that IMPINJ will report full-year sales of $149.98 million for the current fiscal year, with estimates ranging from $149.80 million to $150.15 million. For the next year, analysts forecast that the company will post sales of $172.89 million, with estimates ranging from $169.00 million to $175.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that that provide coverage for IMPINJ.

IMPINJ (NASDAQ:PI) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.10. The business had revenue of $40.76 million for the quarter, compared to the consensus estimate of $38.21 million. IMPINJ had a negative net margin of 14.52% and a negative return on equity of 1.81%. The company’s quarterly revenue was up 18.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.05) earnings per share.

A number of research firms have weighed in on PI. Zacks Investment Research downgraded shares of IMPINJ from a “buy” rating to a “hold” rating in a research note on Tuesday, November 19th. Needham & Company LLC raised shares of IMPINJ from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Tuesday, December 17th. BidaskClub downgraded shares of IMPINJ from a “sell” rating to a “strong sell” rating in a research note on Friday, December 13th. Finally, ValuEngine downgraded shares of IMPINJ from a “sell” rating to a “strong sell” rating in a research note on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $37.40.

In other IMPINJ news, Director Tom A. Alberg sold 12,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $34.45, for a total transaction of $413,400.00. Following the completion of the transaction, the director now directly owns 87,269 shares of the company’s stock, valued at approximately $3,006,417.05. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Tom A. Alberg sold 12,500 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $36.00, for a total transaction of $450,000.00. Following the transaction, the director now directly owns 74,769 shares of the company’s stock, valued at $2,691,684. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,250 shares of company stock valued at $1,525,948. Company insiders own 28.00% of the company’s stock.

A number of hedge funds have recently made changes to their positions in the business. Hussman Strategic Advisors Inc. acquired a new position in shares of IMPINJ in the 3rd quarter valued at about $31,000. Oppenheimer Asset Management Inc. acquired a new position in shares of IMPINJ in the 2nd quarter valued at about $34,000. Bank of Montreal Can acquired a new position in shares of IMPINJ in the 2nd quarter valued at about $36,000. Tower Research Capital LLC TRC acquired a new position in shares of IMPINJ in the 3rd quarter valued at about $61,000. Finally, Ladenburg Thalmann Financial Services Inc. boosted its holdings in shares of IMPINJ by 215.7% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,169 shares of the company’s stock valued at $64,000 after buying an additional 1,482 shares during the period. 77.23% of the stock is owned by institutional investors.

NASDAQ:PI traded down $0.43 during trading hours on Wednesday, reaching $26.65. 237,187 shares of the company were exchanged, compared to its average volume of 370,721. The company has a debt-to-equity ratio of 0.39, a current ratio of 5.90 and a quick ratio of 4.21. The firm has a market cap of $599.23 million, a price-to-earnings ratio of -39.19 and a beta of 2.58. IMPINJ has a 52-week low of $14.00 and a 52-week high of $40.24. The stock has a 50 day simple moving average of $30.75 and a 200 day simple moving average of $32.41.

IMPINJ Company Profile

Impinj, Inc operates a platform that enables wireless connectivity for everyday items by delivering each item’s unique identity, location, and authenticity to business and consumer applications. Its integrated platform connects everyday items to applications, delivering real-time information to businesses about items they create, manage, transport, and sell.