Needham & Company LLC Reaffirms “Buy” Rating for Pixelworks (NASDAQ:PXLW)

Pixelworks (NASDAQ:PXLW)‘s stock had its “buy” rating reissued by research analysts at Needham & Company LLC in a report released on Thursday,Benzinga reports. They currently have a $1.50 price objective on the semiconductor company’s stock. Needham & Company LLC’s price objective indicates a potential upside of 82.93% from the company’s current price.

Pixelworks Price Performance

Shares of PXLW opened at $0.82 on Thursday. 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 market cap of $48.33 million, a PE ratio of -1.74 and a beta of 1.65. The firm’s 50 day moving average price is $0.79 and its 200 day moving average price is $0.76. Pixelworks has a twelve month low of $0.61 and a twelve month high of $3.08.

Pixelworks (NASDAQ:PXLW) last released its quarterly earnings results on Wednesday, February 12th. The semiconductor company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. Pixelworks had a negative net margin of 50.01% and a negative return on equity of 93.16%. As a group, research analysts expect that Pixelworks will post -0.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other Pixelworks news, CEO Todd Debonis sold 41,884 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $0.74, for a total transaction of $30,994.16. Following the transaction, the chief executive officer now owns 1,699,300 shares in the company, valued at $1,257,482. This trade represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 4.70% of the company’s stock.

Institutional Trading of Pixelworks

A hedge fund recently bought a new stake in Pixelworks stock. Raymond James Financial Inc. bought a new position in Pixelworks, Inc. (NASDAQ:PXLW) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 42,166 shares of the semiconductor company’s stock, valued at approximately $31,000. Raymond James Financial Inc. owned 0.07% of Pixelworks at the end of the most recent reporting period. 21.37% of the stock is currently owned by institutional investors.

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.