Impinj, Inc. (NASDAQ: PI) experienced a notable uptick of 2.13% in its stock value, culminating in the latest trading session closing at $82.62. This surge was propelled by significant insider activity, specifically, a noteworthy acquisition by Sylebra Capital Ltd, a 10% owner. On Monday, Sylebra Capital Ltd disclosed its acquisition of 88,028 shares of Impinj (PI), amounting to a substantial investment of $7,026,815. The acquisition was executed at an average share price of $79.79, contributing to the 10% owner firm’s augmented stake, which now stands at 4,118,587 PI shares.
In recent developments, Impinj introduced the Impinj R720 RAIN RFID reader, showcasing enhanced processing power and memory compared to its predecessor. This advancement expedites edge processing, mitigating network load and latency. The Impinj R720 caters to the escalating demand within enterprises for reliable, real-time data concerning their manufactured, transported, and sold items.
Equipped with robust edge processing capabilities, the reader supports application software and algorithms, facilitating the collection and management of enterprise data at its source. Backed by Impinj’s industry-leading readability, the Impinj R720 extends the functionalities of the RAIN RFID platform.
It adeptly identifies, engages, and safeguards connected items, packages, and pallets, ensuring the accurate and efficient transmission of data to enterprise systems. The reader enables autonomous data reading at critical transition points in shipping and warehousing environments, overcoming challenges posed by item movement, dense packing, or obstruction.
The Impinj R720 is designed to comply with the GS1 UHF Gen2v2 protocol, building upon the proven capabilities of its predecessor, the Impinj R700 reader. Noteworthy features include industry-leading receive sensitivity and advanced capabilities that extend the range and speed of reading connected items. Leveraging the advanced Qualcomm QCS404 quad-core processor, the reader provides three times more processing power, coupled with twice the on-reader memory.
This empowers embedded applications to translate RAIN data into actionable business intelligence while upholding enterprise-grade security and reliability. Positioned as an evolution of the established Impinj platform, the R720 reader complements Impinj’s comprehensive RAIN RFID ecosystem.
The ecosystem encompasses top-tier tag chips, reader chips, readers, software, testing solutions, services, and a global partner network. Impinj, as a pioneer in RAIN RFID, remains at the forefront of IoT connectivity, having shipped over 85 billion tag chips to date.
