Pixelworks, Inc. (NASDAQ:PXLW) Short Interest Down 39.1% in February

Pixelworks, Inc. (NASDAQ:PXLW) was the target of a significant drop in short interest in February. As of February 28th, there was short interest totalling 212,500 shares, a drop of 39.1% from the February 13th total of 349,100 shares. Based on an average daily trading volume, of 349,700 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.4% of the shares of the stock are sold short.

Insider Activity at Pixelworks

In other news, CFO Haley F. Aman sold 48,854 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $0.85, for a total transaction of $41,525.90. Following the sale, the chief financial officer now directly owns 352,607 shares in the company, valued at approximately $299,715.95. The trade was a 12.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Pixelworks

A number of hedge funds have recently made changes to their positions in PXLW. GSA Capital Partners LLP purchased a new stake in Pixelworks in the third quarter worth $91,000. Raymond James Financial Inc. bought a new position in Pixelworks in the 4th quarter worth approximately $31,000. Baird Financial Group Inc. raised its stake in shares of Pixelworks by 29.3% during the 4th quarter. Baird Financial Group Inc. now owns 4,262,075 shares of the semiconductor company’s stock valued at $3,109,000 after purchasing an additional 965,889 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in Pixelworks by 44.4% in the 4th quarter. Renaissance Technologies LLC now owns 734,348 shares of the semiconductor company’s stock worth $536,000 after purchasing an additional 225,948 shares during the period. 21.37% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $1.50 target price on shares of Pixelworks in a research report on Thursday, February 13th.

Pixelworks Stock Up 0.3 %

Pixelworks stock traded up $0.00 during mid-day trading on Monday, reaching $0.65. The stock had a trading volume of 53,207 shares, compared to its average volume of 345,829. The stock’s 50-day simple moving average is $0.78 and its 200-day simple moving average is $0.75. Pixelworks has a fifty-two week low of $0.60 and a fifty-two week high of $3.05. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.57 and a current ratio of 4.02. The firm has a market capitalization of $38.19 million, a PE ratio of -1.32 and a beta of 1.81.

Pixelworks (NASDAQ:PXLW) last posted its earnings results on Wednesday, February 12th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.02. Pixelworks had a negative net margin of 66.47% and a negative return on equity of 111.21%. On average, sell-side analysts forecast that Pixelworks will post -0.27 EPS for the current fiscal year.

Pixelworks Company Profile

Pixelworks, Inc, together with its subsidiaries, develops and markets semiconductor and software solutions for mobile, home and enterprise, and cinema markets in the United States, Japan, China, Taiwan, Korea, and Europe. The company offers imageprocessor integrated circuits, such as embedded microprocessors, digital signal processing technology, and software that control the operations and signal processing within high-end display systems; visual processor integrated circuits that works with a mobile application processor; and transcoder integrated circuits which includes software that control the operations and signal processing for converting multiple bitrates, resolutions and codecs to provide bandwidth efficient video transmissions based on industry standard protocols.