NasdaqGS:PI

Stock Analysis Report

Executive Summary

Impinj, Inc. operates a platform that enables wireless connectivity for everyday items by delivering each item’s unique identity, location, and authenticity to business and consumer applications.

Snowflake

Fundamentals

Flawless balance sheet with concerning outlook.

Risks

  • Impinj has significant price volatility in the past 3 months.

Similar Companies

Share Price & News

How has Impinj's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

6.7%

NasdaqGS:PI

0.4%

US Semiconductor

0.8%

US Market


1 Year Return

43.8%

NasdaqGS:PI

10.7%

US Semiconductor

1.9%

US Market

PI outperformed the Semiconductor industry which returned 11.3% over the past year.

PI outperformed the Market in United States of America which returned 2.1% over the past year.


Share holder returns

PIIndustryMarket
7 Day6.7%0.4%0.8%
30 Day-7.8%7.8%3.4%
90 Day29.3%12.6%2.1%
1 Year43.8%43.8%12.7%10.7%4.2%1.9%
3 Year1.2%1.2%84.2%73.5%46.7%37.2%
5 Yearn/a124.2%101.4%62.3%44.5%

Price Volatility Vs. Market

How volatile is Impinj's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Impinj undervalued based on future cash flows and its price relative to the stock market?

7.82x

Price to Book (PB) ratio


Intrinsic Value Based on Future Cash Flows

Impinj's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

Impinj's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

Impinj is loss making, we can't compare its value to the US Semiconductor industry average.

Impinj is loss making, we can't compare the value of its earnings to the United States of America market.


Price Based on Expected Growth

Unable to calculate PEG ratio for Impinj, we can't assess if its growth is good value.


Price Based on Value of Assets

Impinj is overvalued based on assets compared to the US Semiconductor industry average.


Next Steps

Future Growth

How is Impinj expected to perform in the next 1 to 3 years based on estimates from 7 analysts?

14.2%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Impinj's revenue is expected to grow by 14.3% yearly, however this is not considered high growth (20% yearly).

Impinj is not considered high growth as it is expected to be loss making for the next 1-3 years.

Impinj's revenue growth is expected to exceed the United States of America market average.

Unable to compare Impinj's earnings growth to the United States of America market average as it is expected to be loss making during the next 1-3 years.

Unable to compare Impinj's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.


Earnings per Share Growth Estimates


Future Return on Equity

Impinj is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).


Next Steps

Past Performance

How has Impinj performed over the past 5 years?

-32.6%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Impinj does not make a profit and their year on year earnings growth rate was negative over the past 5 years.

Unable to compare Impinj's 1-year earnings growth to the 5-year average as it is not currently profitable.

Unable to compare Impinj's 1-year growth to the US Semiconductor industry average as it is not currently profitable.


Return on Equity

It is difficult to establish if Impinj has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.


Return on Assets

It is difficult to establish if Impinj has efficiently used its assets last year compared to the US Semiconductor industry average (Return on Assets) as it is loss-making.


Return on Capital Employed

It is difficult to establish if Impinj improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.


Next Steps

Financial Health

How is Impinj's financial position?


Financial Position Analysis

Impinj is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.

Impinj's cash and other short term assets cover its long term commitments.


Debt to Equity History and Analysis

Impinj's level of debt (24.2%) compared to net worth is satisfactory (less than 40%).

The level of debt compared to net worth has been reduced over the past 5 years (73.5% vs 24.2% today).


Balance Sheet

High level of physical assets or inventory.

Debt is covered by short term assets, assets are 5.2x debt.


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Whilst loss making Impinj has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.

Whilst loss making Impinj has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -5.4% per year.


Next Steps

Dividend

What is Impinj's current dividend yield, its reliability and sustainability?


Dividend Yield and Payments Analysis

Unable to evaluate Impinj's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.

Unable to evaluate Impinj's dividend against the top 25% market benchmark as the company has not reported any payouts.

Unable to perform a dividend volatility check as Impinj has not reported any payouts.

Unable to verify if Impinj's dividend has been increasing as the company has not reported any payouts.


Current Payout to Shareholders

Unable to calculate sustainability of dividends as Impinj has not reported any payouts.


Future Payout to Shareholders

No need to calculate the sustainability of Impinj's dividends in 3 years as they are not expected to pay a notable one for United States of America.


Next Steps

Management

What is the CEO of Impinj's salary, the management and board of directors tenure and is there insider trading?

3.0yrs

Average management tenure


CEO

Chris Diorio (57yo)

4.8yrs

Tenure

US$2,518,044

Compensation

Dr. Chris Diorio, Ph.D. has been the Chief Executive Officer of Impinj, Inc. since November 2014. Dr. Diorio Co-founded Impinj Inc., in 2000 and served as its Chief Technology Officer since November 2006 u ...


CEO Compensation Analysis

Chris's remuneration is about average for companies of similar size in United States of America.

Chris's compensation has increased whilst company is loss making.


Management Age and Tenure

3.0yrs

Average Tenure

57yo

Average Age

The tenure for the Impinj management team is about average.


Board Age and Tenure

6.7yrs

Average Tenure

56.5yo

Average Age

The tenure for the Impinj board of directors is about average.


Insider Trading

Impinj individual insiders have only sold shares in the past 3 months.


Recent Insider Transactions

SellUS$187,66711 Sep 19
Gregory Sessler
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares5,828
Max PriceUS$32.20
SellUS$93,10015 Aug 19
Peter van Oppen
EntityIndividual
Role
Chairman of the Board
Chairman of the Board
Shares2,528
Max PriceUS$36.83
SellUS$37,14510 May 19
Denise Masters
EntityIndividual
Role
Chief Accounting Officer
Interim Vice President of Accounting & Corporate Controller
Shares1,292
Max PriceUS$28.75
SellUS$174,75209 Nov 18
Eric Brodersen
EntityIndividual
Role
President
President
Shares7,943
Max PriceUS$22.00

Ownership Breakdown


Management Team

  • Chris Diorio (57yo)

    Co-Founder

    • Tenure: 4.8yrs
    • Compensation: US$2.52m
  • Yukio Morikubo (59yo)

    General Counsel

    • Tenure: 4.3yrs
  • John Quist (57yo)

    Senior Vice President of Operations

    • Tenure: 13.5yrs
    • Compensation: US$211.58k
  • Denise Masters (45yo)

    Interim Vice President of Accounting & Corporate Controller

    • Tenure: 1.5yrs
  • Jeff Dossett (59yo)

    Executive Vice President of Sales & Marketing

    • Tenure: 1.7yrs
    • Compensation: US$1.96m
  • Eric Brodersen (52yo)

    President

    • Tenure: 4.8yrs
    • Compensation: US$1.85m
  • Linda Breard (49yo)

    Consultant

    • Tenure: 1.5yrs
  • Gaylene Meyer

    Senior Director Global Marketing & Communications

    • Tenure: 0yrs
  • Hussein Mecklai

    Executive Vice President of Engineering

    • Tenure: 0.8yrs

Board Members

  • Clint Bybee (56yo)

    Independent Director

    • Tenure: 11.7yrs
    • Compensation: US$137.70k
  • Tom Alberg (79yo)

    Independent Director

    • Tenure: 19yrs
    • Compensation: US$127.70k
  • Peter van Oppen (66yo)

    Chairman of the Board

    • Tenure: 6.7yrs
    • Compensation: US$160.87k
  • Cathal Phelan (55yo)

    Director

    • Tenure: 0yrs
  • Greg Sessler (66yo)

    Independent Director

    • Tenure: 8.4yrs
    • Compensation: US$137.70k
  • Theresa Wise (52yo)

    Independent Director

    • Tenure: 3.3yrs
    • Compensation: US$122.70k
  • Chris Diorio (57yo)

    Co-Founder

    • Tenure: 4.8yrs
    • Compensation: US$2.52m
  • Dan Gibson (38yo)

    Director

    • Tenure: 1.3yrs
    • Compensation: US$105.89k

Company Information

Impinj, Inc.'s company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Impinj, Inc.
  • Ticker: PI
  • Exchange: NasdaqGS
  • Founded: 2000
  • Industry: Semiconductors
  • Sector: Semiconductors
  • Market Cap: US$767.837m
  • Shares outstanding: 22.12m
  • Website: https://www.impinj.com

Number of Employees


Location

  • Impinj, Inc.
  • 400 Fairview Avenue North
  • Suite 1200
  • Seattle
  • Washington
  • 98109
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PINasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDJul 2016
27JDB (Deutsche Boerse AG)YesCommon StockDEEURJul 2016
0J9JLSE (London Stock Exchange)YesCommon StockGBUSDJul 2016

Biography

Impinj, Inc. operates a platform that enables wireless connectivity for everyday items by delivering each item’s unique identity, location, and authenticity to business and consumer applications. Its integ ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/09/18 00:30
End of Day Share Price2019/09/17 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.