Pixelworks, Inc. (NASDAQ:PXLW) Short Interest Up 126.4% in March

Pixelworks, Inc. (NASDAQ:PXLW) saw a large growth in short interest in March. As of March 15th, there was short interest totalling 481,000 shares, a growth of 126.4% from the February 28th total of 212,500 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average daily trading volume, of 345,800 shares, the days-to-cover ratio is currently 1.4 days.

Insider Buying and Selling

In other Pixelworks news, CFO Haley F. Aman sold 48,854 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $0.85, for a total transaction of $41,525.90. Following the completion of the sale, the chief financial officer now directly owns 352,607 shares in the company, valued at $299,715.95. The trade was a 12.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 4.70% of the stock is owned by corporate insiders.

Institutional Trading of Pixelworks

Several institutional investors have recently made changes to their positions in PXLW. Baird Financial Group Inc. boosted its stake in Pixelworks by 29.3% in the 4th quarter. Baird Financial Group Inc. now owns 4,262,075 shares of the semiconductor company’s stock worth $3,109,000 after purchasing an additional 965,889 shares during the period. Renaissance Technologies LLC grew its stake in Pixelworks by 44.4% during the fourth quarter. Renaissance Technologies LLC now owns 734,348 shares of the semiconductor company’s stock valued at $536,000 after acquiring an additional 225,948 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Pixelworks in the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 21.37% of the company’s stock.

Analysts Set New Price Targets

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $1.50 target price on shares of Pixelworks in a report on Thursday, February 13th.

Pixelworks Stock Performance

Shares of PXLW stock traded down $0.05 during trading hours on Friday, reaching $0.64. 20,392 shares of the company traded hands, compared to its average volume of 371,838. The firm has a 50-day moving average price of $0.78 and a 200 day moving average price of $0.75. The company has a market cap of $39.03 million, a P/E ratio of -1.31 and a beta of 1.81. Pixelworks has a 12-month low of $0.60 and a 12-month high of $2.71. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.02 and a quick ratio of 3.57.

Pixelworks (NASDAQ:PXLW) last announced its quarterly earnings data on Wednesday, February 12th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. Pixelworks had a negative net margin of 66.47% and a negative return on equity of 111.21%. As a group, sell-side analysts predict that Pixelworks will post -0.27 earnings per share for the current fiscal 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.