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

Pixelworks, Inc. (NASDAQ:PXLW - Get Free Report) was the recipient of a significant growth in short interest during the month of January. As of January 15th, there was short interest totalling 253,500 shares, a growth of 114.1% from the December 31st total of 118,400 shares. Based on an average trading volume of 338,700 shares, the short-interest ratio is currently 0.7 days.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC reduced their price objective on Pixelworks from $2.00 to $1.50 and set a "buy" rating for the company in a research note on Wednesday, November 13th.

Pixelworks Stock Up 0.6 %

NASDAQ PXLW traded up $0.01 during trading on Tuesday, hitting $0.84. 226,403 shares of the company traded hands, compared to its average volume of 372,498. Pixelworks has a 12 month low of $0.61 and a 12 month high of $3.08. 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 company has a market capitalization of $49.39 million, a P/E ratio of -1.79 and a beta of 1.65. The business has a fifty day simple moving average of $0.78 and a 200 day simple moving average of $0.77.

Insiders Place Their Bets

In related news, CEO Todd Debonis sold 41,884 shares of the firm's stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $0.74, for a total transaction of $30,994.16. Following the completion of the transaction, the chief executive officer now owns 1,699,300 shares of the company's stock, valued at $1,257,482. This trade represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Pixelworks

A hedge fund recently bought a new stake in Pixelworks stock. GSA Capital Partners LLP purchased a new stake in shares of Pixelworks, Inc. (NASDAQ:PXLW - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 128,640 shares of the semiconductor company's stock, valued at approximately $91,000. GSA Capital Partners LLP owned 0.22% of Pixelworks as of its most recent SEC filing. Institutional investors own 21.37% of the company's stock.

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.