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PI

Impinj

$13.40

0.61 (4.77%)

07:18
04/12/18
04/12
07:18
04/12/18
07:18

Needham cautious on Impinj despite reported FCC reader module announcement

Needham analyst James Ricchiuti is keeping his Hold rating on Impinj, saying that despite yesterday's 5% rally in the stock price driven by reported FCC authorization of its RS 1000 transmitter, he remains cautious on the near-term outlook for the company's RAIN RFID tag business. The analyst also estimates the average sales price erosion of 8%-10% even as the management expects the industry-wide end-user endpoint IC consumption to grow 15%-20% this year. Among the risks to the company, Ricchiuti also notes potential increase in competition, IP disputes, and order timing variability.

  • 07

    May

PI Impinj
$13.40

0.61 (4.77%)

02/02/18
NEED
02/02/18
DOWNGRADE
NEED
Hold
Impinj downgraded to Hold at Needham on soft Q1 outlook
As reported earlier, Needham analyst James Ricchiuti downgraded Impinj to Hold from Buy after a "double blow" to investors with a 31-37% decline in expected Q1 revenues and the resignation of the company CFO who has been with the company since 2001. The analyst believes the Impinj challenges coming at a time when RFID market is healthy signals company-specific issues that could lead to market share losses. Ricchiuti warns that despite the big drop in the stock price, a recovery to Impinj business may not materialize until 2019.
02/02/18
ADAM
02/02/18
DOWNGRADE
Target $20
ADAM
Hold
Impinj downgraded to Hold at Canaccord
As previously reported, Canaccord analyst T. Michael Walkley downgraded Impinj to Hold from Buy. The analyst noted the company lowered guidance for Q2 due to delayed rollouts and increased competitive price pressures. He now has less confidence in the company's growth potential over the next several quarters given the deteriorating business trends. Walkley lowered his price target to $20 from $35 on Impinj shares.
02/02/18
02/02/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Apple (AAPL) was downgraded to Market Perform from Outperform at Bernstein and to Sector Weight from Overweight at KeyBanc. 2. Alphabet (GOOG, GOOGL) downgraded to Hold from Buy at Stifel with analyst Scott Devitt citing fourth quarter results and saying he has some longer-term concerns around competition from Amazon (AMZN), Google Cloud Platform market share, regulatory risk and rising traffic acquisition cost. 3. Hershey (HSY) downgraded to Neutral from Outperform at Credit Suisse with analyst Robert Moskow saying the stock deserves a "more narrow" valuation premium to food peers than in the past due to the deceleration of its growth rate and the stagnation of its profit margin. 4. Impinj (PI) was downgraded to Neutral from Buy at Dougherty, to Hold from Buy at Needham and Canaccord, and to Sector Perform from Outperform at RBC Capital. 5. Tractor Supply (TSCO) downgraded to Underperform from Buy at BofA/Merrill with analyst Elizabeth Suzuki saying the fourth quarter results were strong, but the outlook for 2018 was disappointing as management outlined expectations for operating margin compression and a store growth trajectory. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
02/06/18
PIPR
02/06/18
UPGRADE
Target $18
PIPR
Overweight
Impinj upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray analyst Troy Jensen upgraded Impinj to Overweight while maintaining an $18 price target for the shares. The recent sell-off in the stock has created a "compelling" valuation, Jensen tells investors in a research note. The analyst believes the company's "poor" March quarter guidance was amplified by Impinj's investment in finished goods inventory, which he notes is reducing lead-times and allowing partners to lower inventory levels.

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Lockheed Martin

$329.23

-7.14 (-2.12%)

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