Piper Sandler Boosts Price Target on Impinj (PI) to $140 Amid Sector Tailwinds

Impinj Inc. (NASDAQ:PI) is one of the most oversold semiconductor stocks so far in 2025. On July 23, a Piper Sandler analyst raised his price target on Impinj (NASDAQ:PI) to $140 from $100, while reiterating his Overweight rating on the stock. The move follows earnings commentary from another company, Avery Dennison (NYSE:AVY), which the analyst views as a constructive signal for Impinj’s positioning, particularly in newer verticals like food and logistics. Avery Dennison is a manufacturer and distributor of pressure-sensitive adhesive materials, apparel branding labels and tags, radio-frequency identification (RFID) inlays, and specialty medical products.

According to the analyst, Avery’s Q2 results and management commentary suggest that while retail sales in its intelligent labeling segment declined modestly year-over-year, the food and logistics categories posted mid-single-digit growth. This shift in end-market demand could benefit Impinj, which has been working to expand beyond its core retail exposure.

The analyst also highlighted that Avery noted that rollouts planned for 2025 remain on schedule, despite the noise surrounding tariffs. This indicates positive trends for Impinj’s enterprise platform strategy as it means that the broader adoption is progressing as expected.

A day earlier, on July 22, Susquehanna analyst Christopher Rolland also increased his price target on Impinj to $140 from $130, while maintaining a Buy rating on the stock. The update came as part of the analyst’s broader preview of the semiconductor sector heading into Q2 earnings. While Rolland expects Impinj’s Q2 results to be in line or slightly better than guidance, he also flagged growing uncertainty around the second half of 2025, with visibility becoming more limited.

Impinj Inc. (NASDAQ:PI) manufactures RFID devices and software, including RFID chips, RFID readers, RFID reader chips, RFID antennas, and software applications for encoding chips.

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Disclosure: None. This article is originally published at Insider Monkey.