Here's Why Impinj (PI) Reported Strong Results in Q3

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Small Cap Growth Fund” third-quarter 2025 investor letter. A copy of the letter can be downloaded here. Equity markets sustained their upward rally from April’s lows, driven by AI acceleration, reduced inflationary impacts from tariffs, and prospects for further interest rate cuts from the U.S. Federal Reserve. Small-cap stocks mirrored the rally by extending the momentum in the quarter. The Russell 2000® Growth Index was up 12.19% in the quarter, modestly underperforming the Russell 2000 Value Index’s 12.60% return. In addition, please check the fund’s top five holdings to know its best picks in 2025.

In its third-quarter 2025 investor letter, Carillon Eagle Small Cap Growth Fund highlighted stocks such as Impinj, 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.

Carillon Eagle Small Cap Growth Fund stated the following regarding Impinj, Inc. (NASDAQ:PI) in its third quarter 2025 investor letter:

"Impinj, Inc. (NASDAQ:PI) provides radio frequency identification (RFID) chips for inventory and asset tracking. The company posted very strong revenue growth versus expectations for the quarter as the adoption of RFID broadened beyond the traditional use cases. Investors also have appreciated key margin and free cash flow improvement with licensing wins. We believe the long-term case for RFID remains strong, and we expect that Impinj should benefit from this theme.

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.