Positioning no disclosures inside 60 days, left as found
Options no verdict drawn today, left as found
Ethical does not pass the values gate
Price184.04 USD
Fair value99.84
Ethical score70.0/100
Our investment reviews on this name
2026-09-09Read Accumulation166.22+10.7% to today ✓
2026-07-02Read Markup132.77+38.6% to today ✓
Our analytic regime reads on this name, dated and marked against the screened price. Small sample per name, and separate from the daily-framework accuracy on the Track Record page.
Impinj, Inc. holds its Accumulation at $184.04. Consolidating, no directional conviction, held for 19 days.
As held on the ledger · 2026-09-21
Phase
Accumulation
Quantitative state
Consolidating, no directional conviction, held for 19 days
Price at the screen
$184.04
Valuation
N/A trailing · 65.65 forward price to earnings
Values screen
FAIL· score 70.0
Beta
1.92
The Workings
Five Screens, Shown in Full
Does not pass. Debt ratio
Test
Figure
Limit
What it means
Status
Business activity
Permissible
Core business clean
Its core business isn't built on prohibited lines: no gambling, alcohol, tobacco, weapons, or interest-based lending.
Pass
Debt load
55.80%
Below 33%
Interest-bearing debt is 55.8% of its assets, above the one-third ceiling the screen allows.
Fail
Interest-bearing cash
23.32%
Below 33%
Cash held in interest-bearing accounts and securities is 23.3% of assets, under the one-third limit.
Pass
Receivables
21.83%
Below 49%
Money owed to the company is 21.8% of assets, under the 49% limit.
Pass
Revenue purity
0.00%
Below 5%
Only 0.0% of revenue comes from non-compliant sources, under the 5% line.
Pass
Five checks adapted from AAOIFI screening standards: business activity plus four balance-sheet ratios. All five must pass for ethical clearance. Every figure is arithmetic on public accounts, not judgement.
Fair value range in USD, drawn from the 2026-09-21 screen. The gold marker is the market price at the same screen. The price runs 45.7% above the base estimate.
Third-party analyst targets: 9 covering, consensus Buy. The average target sits −4% from the screen price.
Reading the gap · Both our model and the Street see limited upside at this price.
Price History & Projections
Where it has been, where the models see it going. History from market close data; projection points are our fair-value estimates and third-party analyst targets, dated to the 2026-09-21 screen.
Fair value and rating are our own model estimates; the Street's range reflects third-party analyst estimates. Analysis, not advice.
The Business, in Plain Words
Item trackers priced far beyond their reach
Every warehouse or retail floor that wants to know where every pallet or shirt sits right now relies on radio chips that beam data into the cloud. Impinj supplies the platform that makes that possible across continents. The business sits in a cyclical corner of semiconductors where demand swings hard with capital spending and inventory cycles.
We pass because the shares trade at 49 times forward earnings despite flat revenue and an 8 percent loss margin. The negative 15 percent return on equity shows capital is still being destroyed, not compounded. A cyclical name with zero growth does not justify that multiple, and the 31 percent premium to our fair value leaves no margin for the downturns that always come.
Analysts see higher numbers ahead, yet history shows peak earnings in this industry often coincide with the lowest multiples that later prove expensive. The ethical screen clears, but the numbers do not. Analysis, not advice.
The risks · The things to watch: it already moves more than the market on an average day.
Plain-English interpretation of our own screen data. Analysis, not advice.
Where & How to Trade
PI trades on Nasdaq. As a listed security it is accessible through almost any international broker offering its home market. New to this, or investing from abroad? Our guide to accessing global markets covers brokers, currencies and the practical steps.
The framework has shifted from markup to accumulation since the last review. Smart money appears to be quietly building positions. This typically precedes a markup phase. Price has moved down 3.3% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 6%. Our forward projection puts the odds of a 10% gain over the next month near 30%. The street (8 analysts) rates it none, with a mean price target of $175.
2026-08-08Markup$171.91+29.5%Entry 4
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved up 29.5% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 6%. Our forward projection puts the odds of a 10% gain over the next month near 30%. The street (8 analysts) rates it none, with a mean price target of $175.
2026-07-18Markup$132.77+0.0%Entry 3
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen. The risk-adjusted return profile shows modest positive risk-adjusted returns. Our composite framework grades it B. Technically it is sitting below its long-term trend line with momentum reading neutral. Over the past year the shares are up 6%. Our forward projection puts the odds of a 10% gain over the next month near 30%. The street (8 analysts) rates it none, with a mean price target of $175.
2026-07-03Markup$132.77+0.0%Entry 2
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
2026-07-02Markup$132.77Entry 1
The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: PASS with passing ethical screen (70). The risk-adjusted return profile shows modest positive risk-adjusted returns.
Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.
