A significant driver of top-line growth: Impinj Inc (PI)

Impinj Inc (NASDAQ: PI) stock jumped 1.83% on Friday to $80.90 against a previous-day closing price of $79.45. With 0.72 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.55 million shares. During the session, the Communication Equipment company that operates in wider Technology sector, reached to the highest price of $82.36 whereas the lowest price it dropped to was $79.29. The 52-week range on PI shows that it touched its highest point at $144.90 and its lowest point at $48.39 during that stretch. It currently has a 1-year price target of $82.38. Beta for the stock currently stands at 2.06.

Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PI was up-trending over the past week, with a rise of 12.77%, but this was up by 55.97% over a month. Three-month performance surged to 37.84% while six-month performance fell -16.43%. The stock lost -25.58% in the past year, while it has lost -25.90% so far this year. A look at the trailing 12-month EPS for PI yields -1.06 with Next year EPS estimates of 0.92. For the next quarter, that number is -0.00. This implies an EPS growth rate of -36.47% for this year and 50.14% for next year. EPS is expected to grow by 10.00% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -2.52%.

Float and Shares Shorts:

At present, 26.10 million PI shares are outstanding with a float of 25.93 million shares on hand for trading. On Oct 30, 2023, short shares totaled 3.81 million, which was 14.08% higher than short shares on Sep 28, 2023. In addition to Dr. Chris Diorio Ph.D. as the firm’s Co-Founder, Vice Chairman & CEO, Mr. Cary L. Baker serves as its Chief Financial Officer.

Institutional Ownership:

Through their ownership of 101.99% of PI’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 51.77% of PI, in contrast to 48.75% held by mutual funds. Shares owned by individuals account for 42.27%. As the largest shareholder in PI with 14.90% of the stake, Sylebra Capital Ltd. holds 4,030,559 shares worth 4,030,559. A second-largest stockholder of PI, Fidelity Management & Research Co, holds 3,946,477 shares, controlling over 14.59% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in PI, holding 2,471,985 shares or 9.14% stake. With a 6.95% stake in PI, the Fidelity Select Port. – Semicondu is the largest stakeholder. A total of 1,881,096 shares are owned by the mutual fund manager. The Vanguard Total Stock Market ETF, which owns about 2.56% of PI stock, is the second-largest Mutual Fund holder. It holds 692,175 shares valued at 44.72 million. SPDR S&P Semiconductor ETF holds 2.25% of the stake in PI, owning 607,671 shares worth 39.26 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PI since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With PI analysts setting a high price target of $100.00 and a low target of $45.00, the average target price over the next 12 months is $82.38. Based on these targets, PI could surge 23.61% to reach the target high and fall by -44.38% to reach the target low. Reaching the average price target will result in a growth of 1.83% from current levels.

Summary of Insider Activity:

Insiders traded PI stock several times over the past three months with 16 Buys and 15 Sells. In these transactions, 374,411 shares were bought while 54,035 shares were sold. The number of buy transactions has increased to 96 while that of sell transactions has risen to 141 over the past year. The total number of shares bought during that period was 1,442,826 while 570,115 shares were sold.