Reading PI? Track it free: the weekly brief, plus an alert if the thesis breaks. No credit card.
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NASDAQInformation TechnologySemiconductorsSnapshot 2026-06-16
Recent financial performance sits below its industry cohort — worth keeping an eye on, though it has not freshly broken.
Recent financial performance is neutral. Earnings quality cannot be assessed since the company is unprofitable. Management's recent track record has been steady. Risk is elevated, and the sector backdrop is a tailwind. Compared with sector peers, the company is below typical. Peer multiples imply a price about 120% below where it trades (it looks expensive on this basis); the read is expensive, growth-justified. This assessment is provisional.
Daily closes. Earnings/event dots are placed inline.
A consensus fair price across 6 valuation methods, at three horizons. Current price $129.61. Estimates are diagnostics, not price targets. Short-horizon estimates are close to coin-flips, so confidence is a method-agreement read, not a prediction.
No-growth: today's peer multiple on trailing earnings. The headline read.
Embeds projected growth. Leans optimistic by design. Upside context.
We take the 12-month fair value above and grade our own number — how the market prices this name versus what we'd justify, and where the two diverge.
At $136 the market pays 68× p/e — above the 28× p/e peer median but in line with its own 71× history. That premium reflects a durable franchise our peer-anchored $59 fair value understates; treat the 'expensive vs peers' read with low confidence. Analysts: $144–$176. Not investment advice.
One valuation read at a 12-month horizon, plus how price compares to peers and the company's own history.
The market is pricing in roughly 132% near-term growth, well above our forecast of about -4%. This describes what's priced in, not a forecast of the move.
Flags: expensive valuation, a turbulent sector regime (Heating).
For similar setups historically (n=2,301): about 43% saw a 20%+ drawdown, and roughly 77% of those did not recover within the year. These are historical base rates for the cohort, not a forecast of this stock.
Each factor is a parallel diagnostic with a clear read of what it shows and how names like it have historically fared. Never aggregated into a single score.
Operating income rose in 0 of the last 3 quarter-over-quarter moves. Historically, Information Technology names rated neutral grew net income 54% of the time over the next year (vs 68% for the rest of the cohort, n=3704).
Over the trailing year it converted -2.68x of net income into operating cash flow.
Most sensitive to the broad stock market.
Not enough signal to read sensitivity to the US dollar, real (inflation-adjusted) rates, long-term interest rates, Fed net liquidity.
2 material management or governance events in the past 24 months, led by executive changes. Historically, Information Technology names rated stable grew net income 56% of the time over the next year (vs 62% for the rest of the cohort, n=797).
The next print and the backdrop around it (sector regime and the AI cycle). Context for the path, not a forecast of returns.
EPS estimate $0.80 → $0.80 (+0.0% / 30d). 3 raised, 0 cut, 8 covering analysts.
0 upgrades, 0 downgrades / 30d. 75% of analysts rate Buy.
How management runs the business: capital, margins, balance sheet, and how reliably they guide and deliver.
A guidance track record builds as the company issues and delivers on guidance.
What a normal day, a bad day, and the worst of the last year would mean for a $10,000 position.
On a typical day, $10k can swing ±$276.
How much price usually moves either way.
On a bad day, this stock has moved -$636.
A rough but not unusual down day (about the 95th percentile).
In the worst 12 months, $10k could have lost $6,224.
Deepest peak-to-trough drop in the last year.
Past results, not a forecast. Not investment advice.
The most important moves since the prior daily snapshot.
No material changes since the prior snapshot.
as of 2026-06-16
Specific, dated things to watch for, each with what would confirm it and what would prove it wrong.
Why it matters: This is a key test of the company's focus on revenue growth. A low number shows ongoing struggles.
Confirms:Q2 revenue growth reported below 10% year over year.
Disproves:Q2 revenue growth reported above 10% year over year.
Recent news graded against this company's own objectives — whether it reinforces or challenges the thesis, and how confirmed it is.
No graded news catalysts for PI yet.
Conditional scenarios: if X happens, the view would shift in this direction. These are not predictions.
Recent SEC 8-K filings ranked by likely impact, confidence, and recency.
Results of Operations and Financial Condition On April 29, 2026, Impinj, Inc. (the “Company”) issued a press release announcing its financial results for the first quarter ended March 31, 2026. A copy of the press release, entitled “Impinj Reports First Quarter 2026 Financial Results” is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein. The information in this Current Report on Form 8-K and the exhibit attached hereto shall not be deemed “fil…
Whether the overall read has been drifting up or down lately, and how it's changed since last week.
Not investment advice. Scores describe historical and current data; they are not forecasts of future returns. Consult a licensed advisor before making investment decisions.
Long-thesis check; widest uncertainty.
$144.00 – $176.00 (median $175.00) · 3 analysts · as of 2026-05-01
Looks more expensive than peers.
Around its own typical valuation.
Trailing four: 2025-Q1, 2025-Q2, 2025-Q3, 2026-Q1
A side-by-side read on sector standing, valuation, and risk versus Electronic Equipment & Instruments.
| Stock | Sector standing | Valuation | Risk |
|---|---|---|---|
PI Impinj, Inc. | Below typical Show detailsSector percentile: 13 of 100 | expensive | elevated |
KEYS Keysight Technologies | Above typical Show detailsSector percentile: 89 of 100 | expensive | moderate |
ROP Roper Technologies | Above typical Show detailsSector percentile: 94 of 100 | inexpensive | elevated |
TDY Teledyne Technologies | Above typical Show detailsSector percentile: 76 of 100 | full | moderate |
TRMB Trimble Inc. | Above typical Show detailsSector percentile: 93 of 100 | inexpensive | moderate |
Not investment advice. As of 2026-06-16.
via XLK
Tailwind = sector leading the S&P 500; headwind = trailing. Both can be constructive. Historically, headwind regimes have averaged stronger forward returns than tailwind.
Context label only: describes the market state (e.g. real bear vs narrative panic, healthy uptrend vs late-stage froth). It is not a per-ticker buy/sell signal and does not predict factor performance.
Not investment advice. As of 2026-06-16.
Priorities management has stated in recent disclosures, with status and evidence drawn from earnings calls, filings, and press releases.
Management continues to emphasize revenue growth as a key priority.
Management aims to enhance operating income through cost management.
Management is focused on enhancing gross profit margins.
Why it matters: Meeting or exceeding this revenue target shows strong demand and growth momentum.
Confirms:Q2 revenue reported at $106 million or higher.
Disproves:Q2 revenue reported below $103 million.
Why it matters: Higher gross profit margins indicate better pricing power and cost control. This is key for growth.
Confirms:Gross profit margin is higher than last quarter.
Disproves:Gross profit margin is lower than last quarter.
Why it matters: Better operating income is important for the company's finances. It shows good cost control.
Confirms:Operating income is better than last quarter.
Disproves:Operating income is lower or the same as last quarter.
Why it matters: If sector growth slows, it could impact Impinj's performance. This is a broader market signal.
Confirms:Sector revenue growth reported below its median.
Disproves:Sector revenue growth remains at or above its median.
Why it matters: Strong bookings indicate ongoing demand and can support future revenue growth.
Confirms:Endpoint IC bookings reported at or above the record levels seen in Q1.
Disproves:Endpoint IC bookings dropped a lot from Q1.
Why it matters: This level of adjusted EBITDA shows higher profits. It also shows better efficiency.
Confirms:Q2 adjusted EBITDA was $29 million or more.
Disproves:Q2 adjusted EBITDA was less than $27.8 million.
Other Events. Between March 11 and 13, 2026, Impinj entered into separate, privately negotiated repurchase agreements with certain holders of its 1.125% Convertible Notes due 2027 (the “Notes”) to repurchase for cash (the “Repurchases”) approximately $40.2 million aggregate principal amount of the Notes for a total repurchase cost (including accrued and unpaid interest) of approximately $47.2 million. Following the closings of the Repurchases, approximately $57.3 million aggregate principal a…
Results of Operations and Financial Conditions On February 5, 2026, Impinj, Inc. issued a press release announcing its financial results for the fourth quarter and year ended December 31, 2025. A copy of the press release, entitled “Impinj Reports Fourth Quarter and Full Year 2025 Financial Results” is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein. The information in this current report on Form 8-K and the exhibit attached hereto shall not…
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On October 20, 2025, the Board of Directors (the “Board”) of Impinj, Inc. (the “Company”) set the size of the Board at seven directors and appointed Arthur L. Valdez Jr. to serve as a director, with an initial term expiring at the Company’s next annual meeting of stockholders, in each case effective as of October 20, 2025. There are no arrangements…