Impinj price target raised to $138 from $130 at Needham

Needham analyst James Ricchiuti raised the firm’s price target on Impinj to $138 from $130 and keeps a Buy rating on the shares. The company’s Q4 results follow a positive pre-announcement and were even "better than advertised", the analyst tells investors in a research note. The firm notes that while Impinj has secured additional wafer supply from its foundry partner, demand continues to outstrip supply. Needham adds that the stock represents a "unique growth story in the current macro environment", stating that RAIN RFID market remains under-penetrated, and this is setting the stage for stronger growth once supply catches up with demand.