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

Pixelworks, Inc. (NASDAQ:PXLW - Get Free Report) was the target of a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 433,800 shares, a decrease of 25.2% from the May 31st total of 579,800 shares. Based on an average trading volume of 564,200 shares, the days-to-cover ratio is currently 0.8 days.

Analyst Upgrades and Downgrades

Several research firms recently commented on PXLW. Craig Hallum dropped their target price on Pixelworks from $4.00 to $3.00 and set a "buy" rating on the stock in a report on Wednesday, May 15th. Needham & Company LLC dropped their target price on Pixelworks from $3.50 to $2.50 and set a "buy" rating on the stock in a report on Wednesday, May 15th. StockNews.com raised Pixelworks from a "sell" rating to a "hold" rating in a report on Tuesday, May 21st. Finally, Roth Mkm decreased their price objective on shares of Pixelworks from $3.00 to $2.00 and set a "buy" rating for the company in a research note on Wednesday, May 15th.

Insider Transactions at Pixelworks

In other news, CEO Todd Debonis sold 24,842 shares of the company's stock in a transaction on Friday, May 17th. The stock was sold at an average price of $1.15, for a total transaction of $28,568.30. Following the sale, the chief executive officer now owns 1,765,223 shares of the company's stock, valued at $2,030,006.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.70% of the company's stock.

Hedge Funds Weigh In On Pixelworks

A number of hedge funds and other institutional investors have recently made changes to their positions in PXLW. Acadian Asset Management LLC grew its holdings in shares of Pixelworks by 219.0% during the first quarter. Acadian Asset Management LLC now owns 734,287 shares of the semiconductor company's stock worth $1,893,000 after buying an additional 504,071 shares during the last quarter. ClariVest Asset Management LLC purchased a new stake in Pixelworks in the 1st quarter valued at approximately $530,000. Essex Investment Management Co. LLC purchased a new stake in Pixelworks in the 4th quarter valued at approximately $255,000. Susquehanna Fundamental Investments LLC purchased a new stake in Pixelworks in the 1st quarter valued at approximately $84,000. Finally, SG Americas Securities LLC purchased a new stake in Pixelworks in the 1st quarter valued at approximately $50,000. Hedge funds and other institutional investors own 21.37% of the company's stock.

Pixelworks Stock Performance

NASDAQ PXLW traded up $0.02 during trading hours on Friday, hitting $0.98. The company had a trading volume of 329,597 shares, compared to its average volume of 325,654. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.51 and a current ratio of 4.78. Pixelworks has a 1-year low of $0.87 and a 1-year high of $3.08. The company has a market cap of $56.84 million, a PE ratio of -2.52 and a beta of 1.61. The business has a 50 day moving average of $1.28 and a 200-day moving average of $1.78.

Pixelworks (NASDAQ:PXLW - Get Free Report) last released its quarterly earnings data on Tuesday, May 14th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.01. Pixelworks had a negative net margin of 33.22% and a negative return on equity of 55.94%. The company had revenue of $16.05 million during the quarter, compared to the consensus estimate of $16.00 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.