Pixelworks’ (PXLW) Buy Rating Reiterated at Needham & Company LLC

Pixelworks (NASDAQ:PXLW)‘s stock had its “buy” rating reaffirmed by equities researchers at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They currently have a $1.50 price objective on the semiconductor company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 82.93% from the company’s previous close.

Pixelworks Stock Performance

Shares of NASDAQ PXLW opened at $0.82 on Thursday. Pixelworks has a 12 month low of $0.61 and a 12 month high of $3.08. The company has a market cap of $48.33 million, a P/E ratio of -1.74 and a beta of 1.65. The business’s 50 day moving average is $0.79 and its two-hundred day moving average is $0.76. The company has a quick ratio of 3.57, a current ratio of 4.02 and a debt-to-equity ratio of 0.03.

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 50.01% and a negative return on equity of 93.16%. On average, equities analysts expect that Pixelworks will post -0.49 EPS for the current year.

Insider Activity

In other news, CEO Todd Debonis sold 41,884 shares of Pixelworks stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $0.74, for a total transaction of $30,994.16. Following the sale, the chief executive officer now owns 1,699,300 shares of the company’s stock, valued at approximately $1,257,482. This trade represents a 2.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Pixelworks stock. Raymond James Financial Inc. acquired a new stake in Pixelworks, Inc. (NASDAQ:PXLW) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 42,166 shares of the semiconductor company’s stock, valued at approximately $31,000. Raymond James Financial Inc. owned approximately 0.07% of Pixelworks as of its most recent filing with the SEC. Hedge funds and other institutional investors own 21.37% of the company’s stock.

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.