Pixelworks, Inc. (NASDAQ:PXLW) Sees Significant Decrease in Short Interest

Pixelworks, Inc. (NASDAQ:PXLW) saw a large drop in short interest in March. As of March 31st, there was short interest totalling 251,400 shares, a drop of 47.7% from the March 15th total of 481,000 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average trading volume of 311,700 shares, the days-to-cover ratio is presently 0.8 days.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PXLW shares. StockNews.com began coverage on Pixelworks in a report on Thursday. They issued a “sell” rating on the stock. Needham & Company LLC reissued a “buy” rating and issued a $1.50 price target on shares of Pixelworks in a research report on Thursday, February 13th.

Insider Activity at Pixelworks

In other news, CFO Haley F. Aman sold 48,854 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $0.85, for a total value of $41,525.90. Following the sale, the chief financial officer now owns 352,607 shares of the company’s stock, valued at approximately $299,715.95. This represents a 12.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.70% of the stock is owned by corporate insiders.

Institutional Trading of Pixelworks

A number of large investors have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new stake in Pixelworks during the fourth quarter valued at $31,000. Parallel Advisors LLC bought a new stake in Pixelworks during the first quarter valued at approximately $28,000. Baird Financial Group Inc. grew its stake in Pixelworks by 29.3% in the 4th quarter. Baird Financial Group Inc. now owns 4,262,075 shares of the semiconductor company’s stock worth $3,109,000 after buying an additional 965,889 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Pixelworks by 44.4% during the 4th quarter. Renaissance Technologies LLC now owns 734,348 shares of the semiconductor company’s stock valued at $536,000 after buying an additional 225,948 shares in the last quarter. 21.37% of the stock is currently owned by institutional investors and hedge funds.

Pixelworks Stock Performance

PXLW stock traded down $0.01 during mid-day trading on Thursday, reaching $0.54. 50,260 shares of the stock traded hands, compared to its average volume of 357,388. The firm has a market capitalization of $33.12 million, a PE ratio of -1.11 and a beta of 1.74. The company has a quick ratio of 3.57, a current ratio of 4.02 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average of $0.69 and a two-hundred day moving average of $0.74. Pixelworks has a 52 week low of $0.48 and a 52 week high of $2.03.

Pixelworks (NASDAQ:PXLW) last announced its earnings results on Wednesday, February 12th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. Pixelworks had a negative net margin of 66.47% and a negative return on equity of 111.21%. As a group, equities analysts predict 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.