Short Interest in Pixelworks, Inc. (NASDAQ:PXLW) Decreases By 36.7%

Pixelworks, Inc. (NASDAQ:PXLW) was the target of a significant decrease in short interest in September. As of September 30th, there was short interest totalling 298,800 shares, a decrease of 36.7% from the September 15th total of 471,800 shares. Based on an average daily trading volume, of 274,100 shares, the days-to-cover ratio is currently 1.1 days.

Analysts Set New Price Targets

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

Pixelworks Price Performance

NASDAQ PXLW traded up $0.06 during trading hours on Monday, reaching $0.87. The company’s stock had a trading volume of 350,656 shares, compared to its average volume of 880,722. The company has a quick ratio of 3.79, a current ratio of 4.21 and a debt-to-equity ratio of 0.03. Pixelworks has a 1 year low of $0.61 and a 1 year high of $3.08. The firm’s 50-day moving average price is $0.72 and its 200-day moving average price is $1.13. The company has a market capitalization of $50.34 million, a price-to-earnings ratio of -2.07 and a beta of 1.61.

Pixelworks (NASDAQ:PXLW) last released its earnings results on Wednesday, August 7th. The semiconductor company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.03. The firm had revenue of $8.54 million for the quarter, compared to the consensus estimate of $8.50 million. Pixelworks had a negative net margin of 42.77% and a negative return on equity of 72.81%. On average, equities research analysts predict that Pixelworks will post -0.51 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Marathon Capital Management bought a new position in Pixelworks during the second quarter valued at approximately $25,000. Traynor Capital Management Inc. purchased a new position in shares of Pixelworks in the first quarter valued at $39,000. SG Americas Securities LLC bought a new stake in Pixelworks in the first quarter worth $50,000. Susquehanna Fundamental Investments LLC bought a new stake in Pixelworks in the first quarter worth $84,000. Finally, Renaissance Technologies LLC lifted its position in Pixelworks by 5.9% during 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 last quarter. Hedge funds and other 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.