Should You Invest in Impinj (PI)?

Scout Investments, an affiliate of Carillon Tower Advisers, an investment management company, released its “Carillon Scout Small Cap Fund” third quarter 2022 investor letter. You can download a copy of the same here. The fund underperformed in the quarter relative to its Russell 2000 Growth Index benchmark. Macroeconomic headwinds affected the performance of the fund in the quarter. As per the letter, investors prefer growth stocks to value stocks, as small-cap growth stocks outperformed small-cap value stocks during the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Tower Advisers highlighted stocks like Impinj, Inc. (NASDAQ:PI) in the Q3 2022 investor letter. Headquartered in Seattle, Washington, Impinj, Inc. (NASDAQ:PI) provides a platform for cloud connectivity. On December 30, 2022, Impinj, Inc. (NASDAQ:PI) stock closed at $109.18 per share. One-month return of Impinj, Inc. (NASDAQ:PI) was -6.61%, and its shares gained 22.88% of their value over the last 52 weeks. Impinj, Inc. (NASDAQ:PI) has a market capitalization of $2.829 billion.

Carillon Tower Advisers made the following comment about Impinj, Inc. (NASDAQ:PI) in its Q3 2022 investor letter:

“Impinj, Inc. (NASDAQ:PI) produces RFID (radio frequency identification) chips used in retail tags, RFID scanners, and point of sale readers. The end market demand continues to look robust, and the company is beginning to see improving wafer supply to meet this strong demand.”

Pixabay/Public domain

Impinj, Inc. (NASDAQ:PI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 24 hedge fund portfolios held Impinj, Inc. (NASDAQ:PI) at the end of the third quarter, which was 18 in the previous quarter.

We discussed Impinj, Inc. (NASDAQ:PI) in another article and shared Alger Capital’s views on the company. In addition, please check out our hedge fund investor letters Q3 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.