雅虎香港財經 Is Impinj (PI) a Great Stock for the Long-Term?
Alger Capital, an investment management company, released its “Alger Weatherbie Specialized Growth Fund” third quarter investor letter. A copy of the same can be downloaded here. During the quarter, Class A shares of the fund underperformed the Russell 2500 Growth Index. The Information technology and Industrials sectors contributed to the fund’s relative performance in the quarter, while Health Care and Energy sectors detracted from performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.
Alger Capital 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 13, 2022, Impinj, Inc. (NASDAQ:PI) stock closed at $118.05 per share. One-month return of Impinj, Inc. (NASDAQ:PI) was 2.96%, and its shares gained 44.12% of their value over the last 52 weeks. Impinj, Inc. (NASDAQ:PI) has a market capitalization of $3.059 billion.
Alger Capital made the following comment about Impinj, Inc. (NASDAQ:PI) in its Q3 2022 investor letter:
"Impinj, Inc. (NASDAQ:PI) engages in the development and sale of RAIN, a radio frequency identification solution. Its platform allows inventory management, patient safety, asset tracking and item authentication for the retail, healthcare, supply chain and logistics. Hospitality, food and beverage, and industrial manufacturing industries.
Shares outperformed during the quarter as the company's second-quarter earnings report was broadly positive. While demand remains more than 50% higher than supply, the growth bottleneck of semiconductor chip supply constraints showed early signs of easing during the quarter, generating better-than-expected revenue growth. Furthermore, the outperformance on revenues is now beginning to pull through to profitability. Impinj’s management anticipates further margin expansion in the future."
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 the top stock picks of Daniel Patrick Gibson’s Sylebra Capital Management. 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.
