Pixelworks (NASDAQ:PXLW) Price Target Lowered to $1.50 at Needham & Company LLC

Pixelworks (NASDAQ:PXLW) had its target price lowered by research analysts at Needham & Company LLC from $2.00 to $1.50 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s target price indicates a potential upside of 121.86% from the company’s previous close.

Separately, StockNews.com downgraded Pixelworks from a “hold” rating to a “sell” rating in a research report on Friday, August 9th.

Pixelworks Stock Performance

Pixelworks stock opened at $0.68 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.21 and a quick ratio of 3.79. The firm has a market capitalization of $39.59 million, a P/E ratio of -1.50 and a beta of 1.61. Pixelworks has a 1-year low of $0.61 and a 1-year high of $3.08. The company’s 50-day moving average is $0.72 and its 200 day moving average is $0.95.

Institutional Investors Weigh In On Pixelworks

Several hedge funds have recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in Pixelworks during the first quarter valued at approximately $50,000. Marathon Capital Management purchased a new position in shares of Pixelworks in the 2nd quarter valued at $25,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Pixelworks in the 1st quarter worth $84,000. GSA Capital Partners LLP purchased a new stake in shares of Pixelworks during the 3rd quarter worth $91,000. Finally, Renaissance Technologies LLC boosted its position in Pixelworks by 5.9% during the second quarter. Renaissance Technologies LLC now owns 495,700 shares of the semiconductor company’s stock valued at $487,000 after purchasing an additional 27,800 shares in the last quarter. 21.37% of the stock is currently owned by hedge funds and other institutional investors.

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.