Impinj director sells over $222k in company stock By


In a recent transaction, Miron Washington, a director at Impinj Inc. (NASDAQ:PI), sold 1,500 shares of the company’s stock. The sale, which took place on June 10th, 2024, totaled approximately $222,065, with the shares being sold at an average price of $148.0434 each.

The transactions were executed in multiple parts, with prices ranging from $147.7902 to $148.05 per share. Following the sale, Washington’s direct holdings in Impinj Inc. decreased to 571 shares of common stock.

Impinj Inc., headquartered in Seattle, Washington, operates in the electronic components sector. The company has been at the forefront of developing and supplying RFID solutions and technologies.

This recent sale by a company insider may be of interest to current and potential shareholders who closely monitor the buying and selling activities of Impinj’s executives and directors. Such transactions are often viewed as a signal of the insiders’ confidence in the company’s future prospects.

Investors and analysts following Impinj Inc. will continue to watch for any further developments or insider transactions that could indicate the company’s trajectory or provide insights into its operations and potential.

In other recent news, Impinj, a leader in RAIN RFID solutions, has been the focus of several analyst actions and has reported strong financial results. Goldman Sachs downgraded Impinj’s stock from Buy to Neutral, citing its significant outperformance and limited downside potential. This action does not reflect a negative view of the company or the RAIN RFID market, but rather the stock’s performance relative to other companies.

Conversely, Needham raised its price target for Impinj from $160 to $195, maintaining a Buy rating. This decision was based on observed growth in the RFID market, particularly in retail apparel and logistics applications. Needham anticipates Impinj could achieve over 20% growth in 2025 and 2026, driven by the adoption of RAIN RFID technology across various sectors.

Impinj also reported robust financial results for Q1 2024, exceeding market expectations. The company’s revenue increased by 9% to $76.8 million, and it anticipates a revenue range of $96 million to $99 million for Q2. This growth is attributed to strong demand for its products, particularly in the retail sector, and the resolution of a patent dispute with NXP (NASDAQ:), which will provide yearly license fees. These are the latest developments in Impinj’s business trajectory.

InvestingPro Insights

Impinj Inc. (NASDAQ:PI), a leader in RFID technology, has recently witnessed significant insider trading activity. While insider transactions are often scrutinized for insights into company confidence, it is also vital to consider the broader financial context in which these transactions occur. According to InvestingPro data, Impinj has a market capitalization of $4.13 billion and a notably high Price / Book ratio of 47.9 as of the last twelve months leading up to Q1 2024. Despite a minor revenue growth of 2.72% during the same period, the company’s revenue declined by 10.56% in Q1 2024, indicating potential challenges ahead.

InvestingPro Tips suggest that analysts are optimistic about Impinj’s future, with six analysts revising their earnings expectations upwards for the upcoming period. This optimism is echoed by the prediction that net income is expected to grow this year. Additionally, the stock has experienced a high return of 76.82% over the last six months, suggesting a strong market performance despite recent volatility, with the stock taking a notable hit over the past week.

For those looking to delve deeper into the financial analysis of Impinj Inc., InvestingPro offers a wealth of additional tips. There are currently 14 more InvestingPro Tips available, which can provide further insights into the company’s financial health and market performance. Interested readers can explore these tips and utilize the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, enriching their investment strategy with real-time data and expert analysis.

With the next earnings date slated for July 24, 2024, investors and analysts alike will be keen to see if the positive forecasts hold true and how they might influence insider activity in the future.

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