Invesco Advisers, Inc. has recently announced that it has increased stake in Impinj Inc. (NASDAQ:PI) by 17.52%. After grabbing 1.5 million shares, the institutional investor is now in possession of 0.22 million shares of the Technology Company. The new investment brought the stake of investor firm to 5.80% having worth around $191.85 million. Moreover, The Vanguard Group, Inc. increased its share by 0.15 million to have a control over 1.2 million shares. And Driehaus Capital Management LLC raised its holdings to 0.32 million shares by acquiring 0.85 million shares or 3.27% of the stake.
Impinj Inc. (PI) concluded trading on 01/11/23 at a closing price of $117.50, with 0.69 million shares of worth about $80.98 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 81.80% during that period and on Wednesday the price saw a loss of about -0.61%. Currently the company’s common shares owned by public are about 25.74M shares, out of which, 24.85M shares are available for trading.
Top 5 Undervalued Stocks To Own In 2023
Microchip Maker Releases "World's Most Powerful Data Center CPU". It could allow the company who manufactures it to lead the industry as the global microchip shortage continues into the coming year. We've put together a free research report that explains all the details. Not only will you find out why analysts believe this chip manufacturer could lead the pack, you will also discover four more potential winners for the coming year.
Click here to download your Free Research Report…
Sponsored
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 217 times over the past 12 months. They bought 289,829 shares in 77 of the transactions. In 140 selling transactions, insiders dumped 916,387 shares.
Invesco Discovery Fund, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF are the top 3 mutual funds which are holding stakes in Impinj Inc. Invesco Discovery Fund is currently holding 0.68 million shares of worth totaling $87.18 million. The company recently came buying 35097.0 shares which brought its stake up to 2.64% of the company’s outstanding shares. Vanguard Total Stock Market Index bought 883.0 shares, after which its hold over company’s outstanding shares expand to 2.39%, leaving 0.62 million shares with the mutual fund that have a worth of about $79.0 million. iShares Russell 2000 ETF, after buying 0.47 million shares, have now control over 1.83% of the stake in the company. It holds 960.0 shares of worth $60.47 million.
Impinj Inc. (NASDAQ: PI) started trading at $125.72, above $7.5 from concluding price of the previous day. However, the stock later moved at a day high price of 128.18, or with a loss of -0.61%. Stock saw a price change of 8.80% in past 5 days and over the past one month there was a price change of 3.62%. Year-to-date (YTD), PI shares are showing a performance of 7.62% which increased to 50.56% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $39.74 but also hit the highest price of $129.02 during that period. The average intraday trading volume for Impinj Inc. shares is 443.84K. The stock is currently trading 4.64% above its 20-day simple moving average (SMA20), while that difference is up 3.23% for SMA50 and it goes to 46.19% higher than SMA200.
Invesco Advisers, Inc. acquired 1.5 million shares of Impinj Inc. having value of about $191.85 million. Data submitted at the U.S SEC by Invesco Advisers, Inc. revealed that the firm now holds 0.22 million shares in the company valued at close to $26348082.5, or have control over 17.52% stake in the company. Impinj Inc. (NASDAQ: PI) currently have 25.74M outstanding shares and institutions hold larger chunk of about 99.38% of that. Holding of mutual funds in the company is about 40.98% while other institutional holders and individual stake holders have control over 55.11% and 38.87% of the stake respectively.
The stock has a current market capitalization of $2.86B and its 3Y-monthly beta is at 2.36. It has posted earnings per share of -$1.77 in the same period. It has Quick Ratio of 6.80 while making debt-to-equity ratio of 133.24. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for PI, volatility over the week remained 6.09% while standing at 4.79% over the month.
Analysts are in expectations that Impinj Inc. (PI) stock would likely to be making an EPS of $0.16 in the current quarter, while forecast for next quarter EPS is $0.18 and it is $1.09 for next year. For the current quarter EPS, analysts have given the company a lowest target $0.03 which is $0.2 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.16 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 6.80% while it is estimated to increase by 41.07% in next year. EPS is likely to grow at an annualized rate of 10.00% for next 5-years, compared to annual growth of -40.30% made by the stock over the past 5-years.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Jefferies on December 15, 2021 offering a Buy rating for the stock and assigned a target price of $100 to it. Coverage by Lake Street stated Impinj Inc. (PI) stock as a Buy in their note to investors on October 26, 2021, suggesting a price target of $69 for the stock. On November 30, 2020, Goldman Initiated their recommendations, while on July 10, 2020, Needham Reiterated their ratings for the stock with a price target of $34. Stock get a Buy rating from Needham on March 19, 2020.
