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

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

Analysts Set New Price Targets

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

Pixelworks Price Performance

Shares of PXLW traded up $0.01 during trading hours on Friday, hitting $0.65. 180,586 shares of the company were exchanged, compared to its average volume of 352,152. The company has a market capitalization of $38.07 million, a PE ratio of -1.32 and a beta of 1.81. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.02 and a quick ratio of 3.57. The firm has a fifty day simple moving average of $0.78 and a 200-day simple moving average of $0.75. Pixelworks has a one year low of $0.60 and a one year high of $3.05.

Pixelworks (NASDAQ:PXLW) last released its earnings results on Wednesday, February 12th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. Pixelworks had a negative return on equity of 111.21% and a negative net margin of 66.47%. As a group, sell-side analysts predict that Pixelworks will post -0.27 earnings per share for the current year.

Insider Buying and Selling at Pixelworks

In related 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 value of $41,525.90. Following the transaction, the chief financial officer now 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 legal filing with the SEC, which can be accessed through this link. 4.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Pixelworks

Hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. acquired a new stake in shares of Pixelworks in the fourth quarter valued at about $31,000. GSA Capital Partners LLP acquired a new position in shares of Pixelworks in the 3rd quarter worth approximately $91,000. Renaissance Technologies LLC boosted its holdings in shares of 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 acquiring an additional 225,948 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its holdings in shares of 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 acquiring an additional 965,889 shares in the last quarter. 21.37% of the stock is owned by institutional investors and hedge funds.

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.