Here's What Boosted Impinj (PI) in Q3

Fred Alger Management, an investment management company, released its “Alger Weatherbie Specialized Growth Fund” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. Equity markets continued their upward trajectory in the quarter, with the S&P 500 Index surging 8.12%. Class A shares of the fund underperformed the Russell 2500 Growth Index during the third quarter of 2025. In addition, please check the fund’s top five holdings to know its best picks in 2025.

In its third-quarter 2025 investor letter, Alger Weatherbie Specialized Growth Fund highlighted stocks such as IImpinj, Inc. (NASDAQ:PI). Impinj, Inc. (NASDAQ:PI) offers a cloud connectivity platform. The one-month return of Impinj, Inc. (NASDAQ:PI) was 30.51%, and its shares gained 17.95% of their value over the last 52 weeks. On October 28, 2025, Impinj, Inc. (NASDAQ:PI) stock closed at $235.89 per share, with a market capitalization of $6.862 billion.

Alger Weatherbie Specialized Growth Fund stated the following regarding Impinj, Inc. (NASDAQ:PI) in its third quarter 2025 investor letter:

"Impinj, Inc. (NASDAQ:PI) designs, sells, and licenses a platform based on RAIN RFID—a wireless tagging technology that helps organizations identify and track items across supply chains. Its offering spans small endpoint chips (the tags placed on products), readers, and software that work together to improve visibility of inventory and assets across stores, warehouses, and distribution. We believe Impinj is well positioned as adoption of item-level tracking expands across retail and other industries. We believe the company’s next-generation endpoint chip (the M800 family) is supporting broader use cases and helping Impinj continue to gain share in the RAIN RFID market. During the quarter, shares contributed positively after the company reported stronger-than-expected fiscal second-quarter results and issued an improved outlook for the third quarter. Despite a mixed retail environment, management highlighted ongoing progress with large enterprise rollouts and continued momentum at major customers, while pilot programs in food and grocery are accelerating."

Impinj, Inc. (NASDAQ:PI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. According to our database, 27 hedge fund portfolios held Impinj, Inc. (NASDAQ:PI) at the end of the second quarter, compared to 28 in the previous quarter. Impinj, Inc.'s (NASDAQ:PI) revenue for the second quarter was $97.9 million, representing a 32% increase sequentially and a 4% decrease year-over-year. While we acknowledge the potential of Impinj, Inc. (NASDAQ:PI) as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.

In another article, we covered Impinj, Inc. (NASDAQ:PI) and shared the list of most oversold semiconductor stocks so far in 2025. In addition, please check out our hedge fund investor letters Q3 2025 page for more investor letters from hedge funds and other leading investors.

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