Fred Alger Management LLC Trims Stock Holdings in Impinj, Inc. $PI

Fred Alger Management LLC reduced its position in Impinj, Inc. (NASDAQ:PI) by 53.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,782 shares of the company’s stock after selling 155,131 shares during the quarter. Fred Alger Management LLC owned approximately 0.45% of Impinj worth $24,543,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of PI. DLD Asset Management LP bought a new position in Impinj in the 2nd quarter worth $1,332,840,000. Invesco Ltd. lifted its position in shares of Impinj by 48.3% in the third quarter. Invesco Ltd. now owns 1,209,292 shares of the company’s stock valued at $218,580,000 after acquiring an additional 393,685 shares in the last quarter. William Blair Investment Management LLC purchased a new position in shares of Impinj in the third quarter valued at about $36,259,000. Granite Investment Partners LLC bought a new position in shares of Impinj in the second quarter worth about $12,160,000. Finally, Bank of America Corp DE grew its position in shares of Impinj by 180.9% during the second quarter. Bank of America Corp DE now owns 159,592 shares of the company’s stock worth $17,726,000 after purchasing an additional 102,779 shares in the last quarter.

Analysts Set New Price Targets

Several research firms have weighed in on PI. Needham & Company LLC dropped their price target on Impinj from $255.00 to $175.00 and set a “buy” rating for the company in a research note on Friday, February 6th. Evercore reiterated an “in-line” rating and set a $112.00 price objective (down from $273.00) on shares of Impinj in a research report on Friday, February 6th. Weiss Ratings reissued a “sell (d)” rating on shares of Impinj in a report on Thursday, January 22nd. Piper Sandler restated a “mixed” rating and set a $180.00 target price (down from $230.00) on shares of Impinj in a research report on Friday, February 6th. Finally, Cantor Fitzgerald cut their target price on shares of Impinj from $246.00 to $170.00 and set an “overweight” rating for the company in a research note on Friday, February 6th. Five research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $167.63.

Impinj Stock Performance

NASDAQ:PI opened at $98.50 on Tuesday. The company has a market cap of $2.98 billion, a price-to-earnings ratio of -252.56 and a beta of 1.56. Impinj, Inc. has a 1 year low of $60.85 and a 1 year high of $247.06. The stock’s 50 day simple moving average is $138.80 and its two-hundred day simple moving average is $165.81. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.68 and a quick ratio of 2.01.

Impinj (NASDAQ:PI) last posted its earnings results on Thursday, February 5th. The company reported $0.50 EPS for the quarter, meeting analysts’ consensus estimates of $0.50. Impinj had a positive return on equity of 8.49% and a negative net margin of 3.00%.The firm had revenue of $92.85 million during the quarter, compared to the consensus estimate of $91.87 million. During the same period in the prior year, the company earned $0.48 EPS. The company’s quarterly revenue was up 1.4% compared to the same quarter last year. Impinj has set its Q1 2026 guidance at 0.080-0.130 EPS. As a group, equities analysts anticipate that Impinj, Inc. will post -0.47 earnings per share for the current fiscal year.

Impinj Company Profile

Impinj, Inc, headquartered in Seattle, Washington, develops Radio Frequency Identification (RFID) solutions designed to connect everyday items to the internet. Founded in 2000, the company pioneered RAIN RFID technology with a focus on transforming supply chain and inventory processes across retail, healthcare, airport baggage handling and manufacturing. Impinj’s platform comprises RAIN RFID tag chips, fixed and handheld RFID readers, gateways, antennas and connectivity modules that enable real-time visibility of tagged items.

Impinj’s product portfolio is built around its core RAIN RFID ecosystem, offering tag chips for high-volume production (Monza series), reader chips for integration into third-party devices and complete reader and gateway systems (Speedway series and xArray).