Asset Management One Co. Ltd, a leading investment firm, has made a striking move by raising its stake in shares of Impinj, Inc. (NASDAQ:PI) by 82.2% in the fourth quarter of the fiscal year 2021. The disclosure made with the Securities and Exchange Commission (SEC) reveals that Asset Management One Co. Ltd. purchased an additional 1,440 shares of Impinj stock during this period, which brings their total holding to 3,192 shares worth approximately $344,000 as of the most recent filing.
Impinj is a Seattle-based company that specializes in developing and selling radio frequency identification (RFID) solutions. Its products include RFID tags, readers, and gateways used for tracking inventory and assets across different verticals like retail, healthcare, logistics, and more. In February 2021, Impinj had reported its quarterly earnings results indicating impressive performance metrics.
The company had announced $76.59 million in revenue for the quarter compared to analyst estimates of $76.20 million with earnings per share at $0.04 – meeting analysts’ consensus estimates projected before its disclosure to the SEC.
Despite facing negative net margins (-6.26%) and returns on equity (-105.37%), Impinj holds significant market dominance in RFID technology since it offers an extensive portfolio of innovative products backed by years-long research and development investment.
Asset Management One Co.’s decision to increase holdings comes amid bullish market speculation about Impinj’s anticipated future growth trajectory due to increased interest from global corporations looking to adopt advanced technological solutions that align with Industry 4.0 paradigms.
In conclusion, Asset Management One’s latest disclosures indicate strong investor confidence in Impinj’s potential future performance amid growing traction among businesses seeking cutting-edge technologies that can drive growth while providing better visibility into operations via real-time data insights through advanced sensing applications such as RFID.
Impinj, Inc.: A Leading RFID Solutions Provider with Consistent Growth Amid Global Uncertainty[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”PI” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]
Seattle-based Impinj, Inc. is a company that specializes in radio frequency identification (RFID) solutions with a market capitalization of $2.30 billion. Its shares opened at $86.29 on Friday and have been the subject of much attention from hedge funds and institutional investors lately. Strs Ohio purchased a new stake valued at approximately $32,000 during Q4, while Advisors Asset Management added a position worth $39,000 during Q1 this year. Great West Life Assurance Co. Can increased its holdings by 31.7% during Q3 and now owns 1,104 shares worth $88,000 after acquiring an additional 266 shares within the same period. Quantbot Technologies LP also bought a new position in Impinj for $101,000 in Q1 2020. Eqis Capital Management bought a new stake for $206,000 during the same quarter.
Impinj’s financial results over the past year have depicted consistent growth with its stock price witnessing highs and lows but maintaining a strong overall performance relative to the broader market trends and events shaping up across worldwide economies today.
Recently, major shareholder Sylebra Capital Ltd acquired an additional 31,769 shares of Impinj’s stock in February this year at an average cost of $126.78 per share – totaling $4,027,673.82 while Director Steve Sanghi also purchased 16,700 shares at an average cost of $119.70 per share for a total transaction value of around $1,998,990.00 – revealing an unwavering confidence among corporate insiders about future prospects concerning the business operations despite COVID-19 dynamics.
The current pandemic has resulted in a significant shift towards automation and innovation within businesses worldwide which are expected to drive Impinj’s growth trajectory over time given its increasing reputation for offering cutting-edge technology to various sectors aimed toward optimizing their operations hence producing a massive cost-saving effect in the long term.
Impinj has been the subject of significant market analyst attention lately, with a range of price targets and ratings being offered. The Goldman Sachs Group raised their target price on Impinj from $111.00 to $142.00 and gave the stock a “buy” rating recently, while Piper Sandler reduced its price target on Impinj from $140 to $130, offering mixed signals across board especially amid global pandemic-driven uncertainty concerning financial viability of newly popularized sectors dependent on industry clusters. Canaccord Genuity Group lifted their price target on the company from $140 to $155 and gave a “Buy” rating in February 2020 as did StockNews.com which began coverage of the firm that same month giving a “Sell” rating. Finally, TheStreet upgraded Impinj’s earnings quality recently by changing its rating from ‘d’ to ‘c-‘ demonstrating growth years ahead for this RFID enabler within various industries globally.
Overall, Impinj is well-positioned for continued growth given the migration demands for an increasingly virtualized economy post-COVID-19 – we are excited to keep monitoring performance metrics across all sectors Impinj caters to hence providing accurate insights into what businesses hope will be one of tomorrow’s fastest-growing technology providers.