KeyCorp Equities Analysts Cut Earnings Estimates for IMPINJ Inc (PI)

IMPINJ Inc (NYSE:PI) – Research analysts at KeyCorp reduced their Q2 2018 earnings per share estimates for IMPINJ in a report issued on Tuesday. KeyCorp analyst B. Erickson now expects that the company will earn $0.05 per share for the quarter, down from their prior forecast of $0.09. KeyCorp has a “Hold” rating on the stock. KeyCorp also issued estimates for IMPINJ’s Q3 2018 earnings at $0.06 EPS, Q4 2018 earnings at $0.09 EPS and FY2018 earnings at $0.14 EPS.

IMPINJ (NYSE:PI) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.04. IMPINJ had a negative net margin of 2.86% and a negative return on equity of 3.11%. The company had revenue of $34.10 million for the quarter, compared to analysts’ expectations of $33.41 million. During the same quarter in the previous year, the firm posted $0.06 earnings per share. IMPINJ’s revenue for the quarter was up 31.2% on a year-over-year basis. COPYRIGHT VIOLATION WARNING: This report was reported by Week Herald and is the sole property of of Week Herald. If you are reading this report on another website, it was illegally copied and reposted in violation of US & international trademark and copyright laws. The original version of this report can be accessed at https://weekherald.com/2017/09/08/keycorp-equities-analysts-cut-earnings-estimates-for-impinj-inc-pi.html.

Several other equities research analysts also recently weighed in on PI. Dougherty & Co began coverage on shares of IMPINJ in a research note on Wednesday. They issued a “buy” rating and a $62.00 target price on the stock. Royal Bank Of Canada reduced their target price on shares of IMPINJ from $59.00 to $50.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th. Zacks Investment Research downgraded shares of IMPINJ from a “hold” rating to a “sell” rating in a research note on Wednesday, August 9th. Canaccord Genuity reissued a “buy” rating and issued a $50.00 target price (down previously from $57.00) on shares of IMPINJ in a research note on Friday, August 4th. Finally, Morgan Stanley downgraded shares of IMPINJ from an “overweight” rating to an “equal weight” rating and increased their target price for the company from $40.00 to $51.00 in a research note on Monday, June 19th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $45.67.

Shares of IMPINJ (PI) opened at 31.77 on Thursday. The company’s market cap is $662.72 million. The firm’s 50-day moving average is $44.49 and its 200-day moving average is $39.37. IMPINJ has a 12 month low of $19.55 and a 12 month high of $60.85.

In related news, CFO Evan Fein sold 9,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $43.68, for a total value of $393,120.00. Following the transaction, the chief financial officer now owns 19,000 shares of the company’s stock, valued at approximately $829,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Eric Brodersen sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $53.23, for a total transaction of $372,610.00. Following the completion of the transaction, the insider now directly owns 106,743 shares in the company, valued at approximately $5,681,929.89. The disclosure for this sale can be found here. Insiders sold a total of 36,500 shares of company stock worth $1,812,375 in the last ninety days.

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its position in IMPINJ by 1,261.0% in the second quarter. BNP Paribas Arbitrage SA now owns 2,096 shares of the company’s stock valued at $102,000 after buying an additional 1,942 shares in the last quarter. Turner Investments LLC acquired a new position in shares of IMPINJ during the second quarter valued at about $146,000. PNC Financial Services Group Inc. boosted its position in shares of IMPINJ by 95.1% in the second quarter. PNC Financial Services Group Inc. now owns 3,621 shares of the company’s stock valued at $176,000 after buying an additional 1,765 shares during the last quarter. First Mercantile Trust Co. acquired a new position in shares of IMPINJ during the second quarter valued at about $178,000. Finally, American International Group Inc. acquired a new position in shares of IMPINJ during the first quarter valued at about $112,000.

IMPINJ Company Profile

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.




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