Impinj price target lowered to $115 from $135 at Roth MKM

Roth MKM analyst Scott Searle lowered the firm’s price target on Impinj to $115 from $135 but keeps a Buy rating on the shares. The company’s "record" Q1 revenue was also coupled with lower gross margins, higher operating spending, and a pause in Q2 guidance, the analyst tells investors in a research note. Roth MKM adds however that wafer supply chain issues are normalizing and demand remains strong, which should translate to a rapid Endpoint recovery in the second half of the year.