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Impinj Inc

Impinj Inc

PI
$138.37USD↓-1.70%-2.39 today

MARKET CAP

4.2B

P/E (TTM)

68.5x

FWD P/E

56.7x

DAY RANGE

$133 – $141

52W RANGE

$87
$247

AI Summary

Stalk
Sell NowMedium

PI has broken below its horizontal support in a Stage 4 decline, trading under the declining 9EMA and 20EMA with failed rally attempts. The active Support Failure pattern confirms sellers are in control and buyers can no longer absorb supply. With both medium-term and short-term biases bearish, immediate sell-side engagement on rallies into the EMA zone is warranted. A decisive reclaim and acceptance above the EMAs would invalidate this bearish bias.

  • ↑High earnings revisions reflect strong analyst confidence in 2025 earnings growth.
  • ↑Gen2X rollout boosts product performance and drives new logistics account wins.
  • ↓Negative profitability factors highlight challenges converting sales into net income.
Full analysis →

The case for & against

Bull & Bear analysis

Bullish

Impinj, Inc. (NASDAQ: PI) is a leading provider of RAIN RFID solutions, specializing in technology that enhances supply chain efficiency and inventory visibility across various industries such as retail, logistics, and food supply chains. The company has established itself as a frontrunner in the RFID market, offering a range of integrated circuits and solutions that facilitate item identification and tracking. With the rising demand for automation and visibility in the supply chain, Impinj's innovation strategy positions the company well in a growing sector.

Bull says

  • ↑High earnings revisions reflect strong analyst confidence in 2025 earnings growth.
  • ↑Gen2X rollout boosts product performance and drives new logistics account wins.
  • ↑Q2 free cash flow $27.3M and 28.2% EBITDA margin indicate strength.
  • ↑Endpoint IC revenue rose 38% sequentially, driven by food and retail recovery.
  • ↑Captured 85% of industry’s 2024 unit volume growth, reinforcing market leadership.
  • ↑Strong liquidity and growth factors support upside amid robust order pipeline.

Bear says

  • ↓Negative profitability factors highlight challenges converting sales into net income.
  • ↓Built excess channel inventory, which may pressure near-term revenue and margins.
  • ↓Q2 revenue down 4% YoY and endpoint IC sales down 5% YoY.
  • ↓High sensitivity to interest rates and macro headwinds could dampen order flow.
  • ↓Heavy reliance on retail and logistics customers raises volatility risk.
  • ↓Valuation may be stretched as low earnings yield and high short interest persist.

Investment themes with PI

Semiconductors↓ -0.94%

Chips powering modern tech and AI growth

AMD · AMAT · LRCX

Earnings Call · Q1 2026 · Mgmt. Guidance

Updated 02-07-2026neutral

Transcript signals

Bull points

  • burning all that channel inventory out in the first quarter, and we are seeing strong signals from our bookings and our turns order in quarter to date, which is at a higher rate than it was at the same time in fourth quarter, more than double, and 50% up from last year, January, positioning us in a positive light.
  • We said that we see apparel overall normalizing as early as second quarter.
  • It is targeted at addressing their specific needs, and it is a chip specific to them. We already have high share at that account. It will maintain that share.

Bear points

  • inventory corrections are seldom contained to one quarter, and we just want to be cautious with our guidance so that if it does spill into the second quarter, we have room to do that.
  • a few extra weeks of channel inventory related to supply chain and logistics
  • We know from history that it's difficult to contain a correction to a single quarter, and it may spill over into the second quarter.
Read full transcript analysis ›