Pixelworks (NASDAQ:PXLW) Given New $1.50 Price Target at Needham & Company LLC

Pixelworks (NASDAQ:PXLW) had its price target cut by Needham & Company LLC from $2.00 to $1.50 in a research report released on Wednesday,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Separately, StockNews.com lowered shares of Pixelworks from a “hold” rating to a “sell” rating in a research note on Friday, August 9th.

Pixelworks Price Performance

Shares of NASDAQ PXLW opened at $0.80 on Wednesday. Pixelworks has a twelve month low of $0.61 and a twelve month high of $3.08. The firm has a market cap of $46.84 million, a P/E ratio of -1.70 and a beta of 1.61. The company has a 50 day moving average of $0.72 and a 200 day moving average of $0.94. The company has a quick ratio of 3.79, a current ratio of 4.21 and a debt-to-equity ratio of 0.03.

Institutional Investors Weigh In On Pixelworks

A number of hedge funds have recently added to or reduced their stakes in PXLW. Acadian Asset Management LLC increased its stake in shares of Pixelworks by 78.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,308,930 shares of the semiconductor company’s stock worth $1,286,000 after purchasing an additional 574,643 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Pixelworks in the 3rd quarter worth $91,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Pixelworks in the 1st quarter worth $84,000. Renaissance Technologies LLC increased its stake in shares of Pixelworks by 5.9% in the 2nd quarter. Renaissance Technologies LLC now owns 495,700 shares of the semiconductor company’s stock worth $487,000 after purchasing an additional 27,800 shares in the last quarter. Finally, Marathon Capital Management purchased a new stake in shares of Pixelworks in the 2nd quarter worth $25,000. 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.