Short Interest in Pixelworks, Inc. (NASDAQ:PXLW) Expands By 55.7%

Pixelworks, Inc. (NASDAQ:PXLW) saw a significant growth in short interest in October. As of October 15th, there was short interest totalling 465,300 shares, a growth of 55.7% from the September 30th total of 298,800 shares. Based on an average daily volume of 288,700 shares, the short-interest ratio is presently 1.6 days.

Institutional Trading of Pixelworks

Hedge funds and other institutional investors have recently made changes to their positions in the company. Marathon Capital Management acquired a new position in Pixelworks during the second quarter worth approximately $25,000. SG Americas Securities LLC purchased a new stake in Pixelworks in the 1st quarter valued at $50,000. Susquehanna Fundamental Investments LLC purchased a new position in Pixelworks during the 1st quarter worth $84,000. Renaissance Technologies LLC increased its stake in Pixelworks by 5.9% in 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 during the period. Finally, ClariVest Asset Management LLC purchased a new stake in shares of Pixelworks in the first quarter valued at about $530,000. Institutional investors and hedge funds own 21.37% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Needham & Company LLC cut their target price on shares of Pixelworks from $2.50 to $2.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. StockNews.com downgraded Pixelworks from a “hold” rating to a “sell” rating in a report on Friday, August 9th.

Pixelworks Stock Down 2.2 %

PXLW stock traded down $0.02 during trading on Friday, hitting $0.75. 114,329 shares of the company’s stock were exchanged, compared to its average volume of 856,955. The business has a 50-day moving average price of $0.72 and a two-hundred day moving average price of $1.03. The company has a current ratio of 4.21, a quick ratio of 3.79 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $43.68 million, a price-to-earnings ratio of -1.66 and a beta of 1.61. Pixelworks has a 52-week low of $0.61 and a 52-week high of $3.08.

Pixelworks (NASDAQ:PXLW) last issued its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.03. Pixelworks had a negative net margin of 42.77% and a negative return on equity of 72.81%. The business had revenue of $8.54 million during the quarter, compared to the consensus estimate of $8.50 million. As a group, equities research analysts expect that Pixelworks will post -0.51 EPS for the current 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.