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Cary Baker, Chief Financial Officer of Impinj Inc . (NASDAQ:PI), recently executed stock transactions involving the company’s common stock. On February 21, Baker sold a total of 1,553 shares in multiple transactions, amounting to $153,376. The shares were sold at prices ranging from $97.8241 to $99.7868 per share. The transaction occurs as Impinj’s stock trades near its 52-week low of $96.69, with the company maintaining a market capitalization of $2.7 billion. These transactions were carried out to cover tax withholding obligations related to the settlement of performance restricted stock units. Following these sales, Baker retains ownership of 76,451 shares of Impinj. According to InvestingPro data, the company has demonstrated solid performance with a 19% revenue growth over the last twelve months and maintains a healthy gross profit margin of 51.6%. For deeper insights into Impinj’s valuation and growth prospects, investors can access comprehensive analysis through InvestingPro’s detailed research reports.
In other recent news, Impinj reported fourth-quarter earnings per share of $0.48, surpassing analyst expectations of $0.40, although its revenue of $91.6 million fell short of the projected $92.76 million. The company has forecasted a significant decline in first-quarter 2025 revenue, estimating between $70 million and $73 million, compared to the anticipated $93.3 million. Analysts have responded to this guidance with adjustments in their outlooks; Needham lowered its price target for Impinj to $130 while maintaining a Buy rating, and Piper Sandler reduced its target to $140, keeping an Overweight rating. The weaker guidance is attributed to inventory issues with channel inlay partners and a lack of significant program launches in the first half of 2025.
Impinj’s CEO, Chris Diorio, acknowledged these challenges but remains focused on leveraging the company’s competitive advantages. Despite the short-term hurdles, Needham analysts express a long-term positive view of Impinj’s growth, particularly due to potential expansion in the grocery sector. Piper Sandler’s Harsh Kumar also maintains optimism, suggesting the inventory issue will be resolved by the end of the March quarter. These developments come as Impinj prepares to release its comprehensive financial results for the fourth quarter and full year of 2024.
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