Pixelworks (NASDAQ:PXLW) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Shares of Pixelworks, Inc. (NASDAQ:PXLW) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $0.80 and traded as high as $0.81. Pixelworks shares last traded at $0.81, with a volume of 603,758 shares traded.

Analysts Set New Price Targets

Separately, Needham & Company LLC lowered their price objective on shares of Pixelworks from $2.00 to $1.50 and set a “buy” rating on the stock in a research note on Wednesday, November 13th.

Pixelworks Stock Performance

The firm’s 50-day simple moving average is $0.75 and its two-hundred day simple moving average is $0.80. 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 stock has a market capitalization of $47.65 million, a PE ratio of -1.72 and a beta of 1.63.

Insider Activity

In other news, CEO Todd Debonis sold 41,884 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $0.74, for a total value of $30,994.16. Following the transaction, the chief executive officer now directly owns 1,699,300 shares of the company’s stock, valued at approximately $1,257,482. This represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Pixelworks

Large investors have recently made changes to their positions in the company. GSA Capital Partners LLP acquired a new stake in Pixelworks in the third quarter valued at approximately $91,000. Marathon Capital Management bought a new stake in Pixelworks in the second quarter worth $25,000. Renaissance Technologies LLC increased 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 worth $487,000 after buying an additional 27,800 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in Pixelworks by 78.3% during the second quarter. Acadian Asset Management LLC now owns 1,308,930 shares of the semiconductor company’s stock valued at $1,286,000 after buying an additional 574,643 shares in the last quarter. 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.