Why Impinj Stock Rose 10.8% Today

Shares of Impinj (NASDAQ: PI) closed Tuesday's trading session 10.8% higher, propelled by updated revenue guidance for the fourth quarter.

The maker of radio-frequency identification (RFID) tracking chips and data readers now expects fourth-quarter revenues to exceed $52 million. That's a 10.6% boost over the midpoint of management's existing guidance for this period. As a result, the year-over-year sales-growth target increased from 29% to 43%.

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Source Fool.com