Reasons for the Outperformance of Impinj (PI) in Q4

·2 min read

Wasatch Global Investors, an asset management company, released its “Wasatch Micro Cap Growth—U.S. Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy declined and underperformed its benchmark, the Russell Microcap Index in the fourth quarter, which gained 4.72%. The disappointing returns in industrials, financials, and consumer discretionary were the primary source of the strategy’s weakness relative to the benchmark while consumer staples positively contributed to the performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Wasatch Micro Cap Growth—U.S. Strategy highlighted stocks like Impinj, Inc. (NASDAQ:PI) in the Q4 2022 investor letter. Headquartered in Seattle, Washington, Impinj, Inc. (NASDAQ:PI) provides a platform for cloud connectivity. On March 21, 2023, Impinj, Inc. (NASDAQ:PI) stock closed at $136.27 per share. One-month return of Impinj, Inc. (NASDAQ:PI) was 11.39%, and its shares gained 108.49% of their value over the last 52 weeks. Impinj, Inc. (NASDAQ:PI) has a market capitalization of $3.564 billion.

Wasatch Micro Cap Growth—U.S. Strategy made the following comment about Impinj, Inc. (NASDAQ:PI) in its Q4 2022 investor letter:

"Impinj, Inc. (NASDAQ:PI) was also a contributor. The company, a pioneer in helping develop the Internet of Things, provides an infrastructure by which everyday things such as car parts and even shipment data communicate over the internet. Impinj offers a wireless inventory-management and tracking platform for customers in retail, manufacturing, health care and other areas. Tiny radio-frequency identification (RFID) chips are used to connect, count and track individual items. Because Impinj is heavily reliant on integrated circuits, which were in short supply during the post-pandemic rebound, today’s slowing economy helps reduce this supply-and-demand imbalance, benefiting the company’s profitability. The stock soared when Impinj’s third-quarter earnings report and management’s forward guidance were well received by investors. Given the magnitude of the move in the stock, we sold some of our shares but maintained a healthy position."


Impinj, Inc. (NASDAQ:PI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 30 hedge fund portfolios held Impinj, Inc. (NASDAQ:PI) at the end of the fourth quarter which was 24 in the previous quarter.

We discussed Impinj, Inc. (NASDAQ:PI) in another article and shared Alger Weatherbie Specialized Growth Fund's views on the company. In addition, please check out our hedge fund investor letters Q4 2022 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.