NASDAQ: PI · Semiconductors
Impinj (PI) fair value: undervalued or overvalued?
As of 29 Sep 2026, Faircurve's model values Impinj (PI) at $146.74 a share. The stock last closed at $189.61, which puts the model's fair value 22.6% below the price. On the model's bands that reads as Overvalued.
Revalued . Price is the close of 2 Oct 2026. Impinj, Inc.
Faircurve Insights · 29 Sep 2026
Impinj, Inc., established in 2000 and headquartered in Seattle, Washington, provides a sophisticated cloud connectivity platform across the Americas, Asia Pacific, Europe, the Middle East, and Africa.
Faircurve's model found a fair value of $146.74 a share on 29 Sep 2026, the midpoint of 2,000 simulations. The previous run on 26 Sep 2026 gave $153.11, a move of -4.2%. The calibrated range over 63 trading days is $123.11 to $178.92, built from the fair value, and ranges built this way held the price 60% of the time at this horizon. The evidence grade is Medium.
The overall quality score is 49 out of 100 against comparable companies. The model compares it with ACM Research, Inc., Cirrus Logic, Inc., Kulicke and Soffa Industries, Inc., Vishay Intertechnology, Inc., Diodes Incorporated, Allegro MicroSystems, Inc., Silicon Laboratories Inc., and Synaptics Incorporated. The median move around the last 8 earnings reports, ignoring direction, was 18.4%.
Written from the figures on this page for the 29 Sep 2026 valuation and checked by rule before publishing: every number is one printed here, no forecast, no instruction. The price, the gap and the verdict are the page's own and change daily. Not a recommendation.
What price range does the model give PI?
The calibrated range for PI over 63 trading days is $123.11 to $178.92. There is no live options data for this stock, so the range is built from the fair value and calibrated weekly against realised prices (n = 4,327 past valuations, refreshed 26 Sep 2026). Ranges built this way held the price 60% of the time at this horizon.
The price is above this range. For names with fair value 15%+ below price, the calibrated range has held the price 40% of the time over 63 trading days, and 58% ended above it; the typical move was −0.1%.
The model's own simulated range, from the 20th to the 80th percentile of its runs, is $102.82 to $204.76. In 31% of the simulations the fair value came out above the price the model ran on.
How does PI score on business quality?
Impinj's overall quality score is 49 out of 100. Each factor below is a score against comparable companies, not a percentile of the metric beside it.
| Factor | Score (0 to 100) | Headline measure | Peer median |
|---|---|---|---|
| ProfitabilityReturn on invested capital against the peer group, with a bonus for an improving trend. | 34 | -1.5%ROIC | 3.9% |
| Earnings qualityHow much of reported profit is cash: free cash flow to net income, and the accrual ratio (the share of earnings that is not cash). | 86 | ||
| Growth qualityTrailing revenue growth, forward growth from consensus, and the direction of analyst estimate revisions. | 33 | -1.4%Revenue growth, trailing | 11.4% |
| Capital disciplineReinvestment efficiency (capital spending per unit of revenue) and net buybacks. | 36 | 0.0%Net buybacks / market value | 2.4% |
| Balance sheetNet debt to EBITDA and interest coverage. | 70 | -26.46xNet debt / EBITDA | 0.45x |
| StabilityDownside volatility of the EBITDA margin over the last five years. | 43 | 5.3 ptsEBITDA margin downside volatility, 5y | 4.5 pts |
How does PI compare with similar companies?
The companies in semiconductors closest to Impinj in market value, each on the same model and the same date.
| Company | Last close | Model fair value | Gap | Model verdict |
|---|---|---|---|---|
| ACMR ACM Research, Inc. | $83.38 | $96.00 | +15.1% | Undervalued |
| CRUS Cirrus Logic, Inc. | $121.17 | $162.28 | +33.9% | Undervalued |
| KLIC Kulicke and Soffa Industries, Inc. | $100.77 | $108.40 | +7.6% | Fairly valued |
| VSH Vishay Intertechnology, Inc. | $38.18 | $43.44 | +13.8% | Fairly valued |
| DIOD Diodes Incorporated | $103.84 | $130.21 | +25.4% | Undervalued |
| ALGM Allegro MicroSystems, Inc. | $39.53 | $38.75 | -2.0% | Fairly valued |
| SLAB Silicon Laboratories Inc. | $222.76 | $205.56 | -7.7% | Fairly valued |
| SYNA Synaptics Incorporated | $121.10 | $119.32 | -1.5% | Fairly valued |
When does PI report earnings, and how has the stock reacted?
Impinj's next earnings report is scheduled for 28 Oct 2026. Companies can move their dates.
Options prices on 2 Oct 2026 imply a move of about 9.9% in either direction through the nearest expiry, about 13 days out. That is the size the market is pricing, not a direction.
How PI moved around its last 8 earnings reports
Each move runs from the last close before the report to the first close after it, so it covers companies that report before the open and after the close. The median size across these 8 reports, ignoring direction, was 18.4%.
| Report date | Two session move |
|---|---|
| 29 Jul 2026 | +10.9% |
| 29 Apr 2026 | +22.0% |
| 5 Feb 2026 | -23.8% |
| 29 Oct 2025 | -12.6% |
| 30 Jul 2025 | +25.9% |
| 23 Apr 2025 | +34.1% |
| 5 Feb 2025 | -14.8% |
| 23 Oct 2024 | -14.0% |
Impinj at a glance
Impinj, Inc., established in 2000 and headquartered in Seattle, Washington, provides a sophisticated cloud connectivity platform across the Americas, Asia Pacific, Europe, the Middle East, and Africa.
- Market value
- $5.4B
- Sector
- Technology
- Industry
- Semiconductors
- Revenue expected, next twelve months
- $448M
- Consensus revenue growth, next fiscal year
- +7.9%
- Analysts with estimates
- 5
- Beta to the US market
- 2.19
- First valued by Faircurve
- 11 Jul 2026
How the fair value is worked out: the model prices Impinj on the value of the whole business, debt included, against the operating profit analysts expect next year (forward EV/EBITDA), runs 2,000 simulations across its inputs and takes the midpoint. The full method is documented here.
What changed in the latest valuation?
On 26 Sep 2026 the model's fair value for PI was $153.11. As of 29 Sep 2026 it is $146.74, a change of -4.2%. The model revalues every stock it covers each week, and again after an earnings report.
Questions about Impinj's valuation
Is Impinj stock undervalued or overvalued?
On Faircurve's model, PI reads as Overvalued as of 29 Sep 2026. The model's fair value is $146.74 a share against a last close of $189.61, a gap of -22.6%.
What is PI's fair value?
$146.74 a share as of 29 Sep 2026, the midpoint of 2,000 simulations. The model's own 20th to 80th percentile range is $102.82 to $204.76.
What price range does the model give PI?
$123.11 to $178.92 over 63 trading days. Ranges built this way held the price 60% of the time across 4,327 past valuations, refreshed 26 Sep 2026.
When does Impinj report earnings next?
The next report is scheduled for 28 Oct 2026. Companies can move their dates.
How much has PI moved on past earnings reports?
Across its last 8 reports the median two session move was 18.4%, ignoring direction. The largest was +34.1% around the report of 23 Apr 2025.
How confident is the model in this valuation?
The model's evidence grade for PI is medium. The grade looks at how complete the inputs are, how many comparable companies there are and how closely they agree, and how wide the range of outcomes is. It is not a probability that the fair value is right, or that the price reaches it.