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Leo Miller

93% Gain for Impinj Stock—Here’s Why It Could Climb Higher

Impinj PI European Union

Impinj (NASDAQ: PI) is a mid-cap chip stock that has quietly had a great year in 2024. The stock has returned over 93%, placing it among the top five best returning semiconductor stocks in the United States. Wall Street analysts remain bullish on the stock. The average of the seven price targets from October MarketBeat tracked is $246 per share. That implies an upside in the shares of 40% from their current level.

So, what exactly does Impinj do, and why has the market bid up the value of this company so much in 2024? I will answer that question and share my longer-term view on the opportunity Impinj has.

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