Pixelworks, Inc. (NASDAQ:PXLW) Sees Large Decline in Short Interest

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

Insider Activity

In other Pixelworks 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 transaction of $41,525.90. Following the completion of the sale, the chief financial officer now owns 352,607 shares of the company’s stock, 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 document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On Pixelworks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new position in Pixelworks during the fourth quarter worth $31,000. GSA Capital Partners LLP acquired a new position in Pixelworks during the 3rd quarter worth approximately $91,000. Renaissance Technologies LLC raised its stake in Pixelworks by 44.4% in the fourth quarter. Renaissance Technologies LLC now owns 734,348 shares of the semiconductor company’s stock valued at $536,000 after buying an additional 225,948 shares in the last quarter. Finally, Baird Financial Group Inc. raised its position in shares of Pixelworks by 29.3% during 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. Hedge funds and other institutional investors own 21.37% of the company’s stock.

Pixelworks Stock Performance

PXLW stock traded up $0.00 during midday trading on Monday, reaching $0.65. The stock had a trading volume of 53,207 shares, compared to its average volume of 345,829. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.57 and a current ratio of 4.02. The firm has a fifty day simple moving average of $0.78 and a two-hundred day simple moving average of $0.75. The stock has a market cap of $38.19 million, a PE ratio of -1.32 and a beta of 1.81. Pixelworks has a 52-week low of $0.60 and a 52-week high of $3.05.

Pixelworks (NASDAQ:PXLW) last issued its quarterly earnings data on Wednesday, February 12th. The semiconductor company reported ($0.09) EPS for the quarter, beating 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, equities research analysts anticipate that Pixelworks will post -0.27 EPS for the current year.

Analyst Ratings Changes

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

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.