Impinj is a semiconductor company in a confirmed death cross downtrend with quality below the 4.0 minimum threshold, 16% short interest, and both momentum and asymmetry gates failed — analysts project 28% upside but current technicals do not support new entry.
Thesis pillars
- Analyst Upside Growth Potential↑Improving
- Quality Below Floor→Stable
- Death Cross Downtrend↓Deteriorating
- +1 more pillar — see the Why tab for full reasoning
Impinj, Inc. (PI) Stock Analysis
Technology · Semiconductors
Sell if holding. Analyst target reached at $172.65 — A.R:R is negative (-0.8) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Leverage penalty (D/E 1.2): -0.5.
Impinj designs and sells a RAIN IoT platform—endpoint ICs, reader ICs, finished readers, gateways, and tag production systems—enabling wireless item-to-cloud connectivity with over 150 billion items connected to date across retail, supply chain, healthcare, and aviation markets.... Read more
Sell if holding. Analyst target reached at $172.65 — A.R:R is negative (-0.8) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Leverage penalty (D/E 1.2): -0.5. Chart setup: No clear chart pattern; technical signals are mixed. Score 4.2/10, high confidence.
Passes 6/9 gates (positive momentum, no SEC red flags, news events none recent, earnings proximity 73d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio and clean insider activity. Suitability: aggressive.
About Impinj, Inc.
About Impinj, Inc.
Three customers—identified as Customer A, B, and C in Impinj's 10-K—accounted for 61% of total revenue in 2025, with Customer A alone representing 34%, a concentration that has persisted across multiple years (28% in 2024, 33% in 2023). Impinj designs endpoint ICs and reader ICs sold as silicon radios at pennies and tens of dollars respectively, finished readers and gateways at hundreds to thousands of dollars, and tag production systems through the Voyantic Oy subsidiary in Finland. The company employed 457 people at December 31, 2025, with 255 in research and development.
Impinj sells endpoint ICs directly to inlay and tag OEMs, reader ICs through distribution to OEM and ODM partners, and readers and gateways through distributors, value-added resellers, and systems integrators. All endpoint IC wafers are manufactured by Taiwan Semiconductor Manufacturing Company (TSMC) in Taiwan, a relationship in place since 2003; all reader IC wafers are also manufactured by TSMC in Asia, a relationship since 2021. Neither arrangement operates under a long-term supply agreement—both are on a purchase-order basis. Readers and gateways are assembled by Plexus Corp. in Asia under annually renewing non-exclusive purchase agreements terminable on 180 days' notice. Primary endpoint IC competitors include NXP B.V., Kiloway, Quanray, and Shanghai Fudan Microelectronics Group; Phychips Inc. and Shanghai Fudan compete in reader ICs.
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The customer concentration risk and foundry dependency compound each other: if Customer A—a single unnamed buyer at 34% of 2025 revenue—reduced purchases, and TSMC simultaneously faced capacity constraints or disruption (for which there is no long-term supply agreement backstop), Impinj would face simultaneous revenue and supply shocks in the same period. The 10-K explicitly flags both as material risks, noting the company relies on a small number of customers for a large share of revenue and obtains products through a limited number of third parties without long-term contracts.
See also: Technology · Semiconductors
From Impinj, Inc.'s most recent 10-K filing, extracted June 11, 2026.
Recent developments
updated 2026-08-16Recent Developments — Impinj, Inc.
Latest news
- NEWS Cantor Fitzgerald Reiterates Overweight on Impinj, Maintains $200 Price Target — benzinga Jul 30, 2026 positive
- NEWS Needham Maintains Buy on Impinj, Lowers Price Target to $168 — benzinga Jul 30, 2026 positive
- NEWS Jefferies Maintains Buy on Impinj, Raises Price Target to $190 — benzinga Jul 30, 2026 positive
- NEWS Impinj Q2 Adj. EPS $0.86 Beats $0.80 Estimate, Sales $108.371M Beat $104.604M Estimate — benzinga Jul 29, 2026 positive
- NEWS Impinj Sees Q3 GAAP EPS $0.07-$0.12 vs $(0.01) Est — benzinga Jul 29, 2026 positive
Generated 2026-08-16T16:22:10Z.
Upcoming dated catalysts
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Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
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Rating Breakdown
3 floor-breakers
Ranks in the bottom of its industry peers on the composite signal. Better names in the same sector exist.static
Technicals below the gate floor. Component breakdown shows what dragged the score down.static
Priced at a premium — multiples above sector norms. Needs delivery on growth + margins to justify.static
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Sell if holding. Analyst target reached at $172.65 — A.R:R is negative (-0.8) — price has exceeded the analyst target. Reward from here is too thin for a buy — the engine flags exit. Additional concerns: Leverage penalty (D/E 1.2): -0.5. Chart setup: No clear chart pattern; technical signals are mixed. Prior stop was $160.56. Score 4.2/10, high confidence.
Take-profit target: $181.30 (-11.3% upside). Prior stop was $160.56. Stop-loss: $160.56.
Analyst target reached - limited upside remaining; Leverage penalty (D/E 1.2): -0.5; Weak overall score: 4.2/10.
Impinj, Inc. trades at a P/E of N/A (forward 61.5). TrendMatrix value score: 3.2/10. Verdict: Sell.
16 analysts cover PI with a consensus score of 4.1/5. Average price target: $176.
What does Impinj, Inc. do?Impinj designs and sells a RAIN IoT platform—endpoint ICs, reader ICs, finished readers, gateways, and tag production...
Impinj designs and sells a RAIN IoT platform—endpoint ICs, reader ICs, finished readers, gateways, and tag production systems—enabling wireless item-to-cloud connectivity with over 150 billion items connected to date across retail, supply chain, healthcare, and aviation markets. Revenue is highly concentrated: Customer A alone was 34% of total revenue in 2025, with the top three customers at 61%. TSMC manufactures all IC wafers without a long-term supply agreement.