Roth MKM raised the firm’s price target on Impinj (PI) to $125 from $115 and keeps a Buy rating on the shares. The analyst cites the company having reached a settlement agreement and cross-licensing arrangement with NXP Semiconductors (NXPI) that will pay Impinj a $45M one-time payment, provide an annual royalty payment of $15M, and reduce litigation expenses which peaked at $15.7M in 2023. The arrangement also strongly reinforces Impinj’s IP leadership position in RAIN RFID, the firm tells investors in a research note.
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