Pixelworks, Inc. (NASDAQ:PXLW) Short Interest Up 126.4% in March

Pixelworks, Inc. (NASDAQ:PXLW) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 481,000 shares, a growth of 126.4% from the February 28th total of 212,500 shares. Based on an average trading volume of 345,800 shares, the days-to-cover ratio is presently 1.4 days. Approximately 0.9% of the shares of the stock are sold short.

Analysts Set New Price Targets

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

Insider Activity

In other news, CFO Haley F. Aman sold 48,854 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $0.85, for a total value of $41,525.90. Following the completion of the sale, the chief financial officer now directly owns 352,607 shares of the company’s stock, valued at $299,715.95. This trade represents a 12.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On Pixelworks

Several large investors have recently added to or reduced their stakes in the stock. Baird Financial Group Inc. boosted its holdings in shares of Pixelworks by 29.3% in the fourth 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. Renaissance Technologies LLC grew its holdings in Pixelworks by 44.4% during 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, Raymond James Financial Inc. purchased a new position in Pixelworks during the fourth quarter valued at approximately $31,000. 21.37% of the stock is owned by hedge funds and other institutional investors.

Pixelworks Trading Down 7.0 %

Shares of PXLW stock traded down $0.05 on Friday, reaching $0.64. 20,392 shares of the company’s stock were exchanged, compared to its average volume of 371,838. The company’s fifty day simple moving average is $0.78 and its 200 day simple moving average is $0.75. Pixelworks has a 52 week low of $0.60 and a 52 week high of $2.71. The company has a current ratio of 4.02, a quick ratio of 3.57 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $39.03 million, a PE ratio of -1.31 and a beta of 1.81.

Pixelworks (NASDAQ:PXLW) last released its earnings results on Wednesday, February 12th. The semiconductor company reported ($0.09) earnings per share for the quarter, topping the consensus estimate 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, analysts forecast that Pixelworks will post -0.27 EPS for the current year.

About Pixelworks

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.