Pixelworks, Inc. (NASDAQ:PXLW) Sees Significant Decline in Short Interest

Pixelworks, Inc. (NASDAQ:PXLW) was the recipient of a significant decline in short interest during the month of July. As of July 31st, there was short interest totalling 477,600 shares, a decline of 6.6% from the June 30th total of 511,300 shares. Approximately 1.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 218,100 shares, the days-to-cover ratio is presently 2.2 days.

In other Pixelworks news, insider Todd Debonis purchased 10,000 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were purchased at an average price of $2.97 per share, for a total transaction of $29,700.00. Following the completion of the transaction, the insider now owns 868,139 shares in the company, valued at approximately $2,578,372.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last 90 days, insiders acquired 18,000 shares of company stock worth $51,900. 4.60% of the stock is currently owned by company insiders.

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in Pixelworks by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 1,534,922 shares of the semiconductor company’s stock worth $4,528,000 after purchasing an additional 11,000 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Pixelworks by 124.7% during the 2nd quarter. Renaissance Technologies LLC now owns 852,124 shares of the semiconductor company’s stock valued at $2,514,000 after buying an additional 472,900 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Pixelworks by 18.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 748,229 shares of the semiconductor company’s stock valued at $2,170,000 after buying an additional 114,148 shares during the period. BlackRock Inc. boosted its stake in shares of Pixelworks by 1.9% during the 2nd quarter. BlackRock Inc. now owns 741,909 shares of the semiconductor company’s stock valued at $2,188,000 after buying an additional 13,751 shares during the period. Finally, S Squared Technology LLC boosted its stake in shares of Pixelworks by 8.2% during the 1st quarter. S Squared Technology LLC now owns 529,997 shares of the semiconductor company’s stock valued at $2,078,000 after buying an additional 40,000 shares during the period. 36.74% of the stock is owned by hedge funds and other institutional investors.

A number of research firms recently commented on PXLW. TheStreet lowered shares of Pixelworks from a “c” rating to a “d+” rating in a research note on Friday, August 2nd. Dougherty & Co reaffirmed a “buy” rating and issued a $5.50 price objective (down previously from $6.50) on shares of Pixelworks in a research note on Friday, May 3rd. Zacks Investment Research raised shares of Pixelworks from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a research note on Thursday, August 8th. Finally, ValuEngine lowered shares of Pixelworks from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $6.00.

Pixelworks stock traded down $0.03 during midday trading on Friday, reaching $3.37. The stock had a trading volume of 844,125 shares, compared to its average volume of 248,781. The firm’s fifty day simple moving average is $3.14 and its two-hundred day simple moving average is $3.57. Pixelworks has a twelve month low of $2.60 and a twelve month high of $5.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.01 and a quick ratio of 1.93. The firm has a market cap of $137.31 million, a price-to-earnings ratio of -48.14 and a beta of 1.96.

Pixelworks Company Profile

Pixelworks, Inc designs, develops, and markets video processing semiconductors, intellectual property cores, software, and custom application specific integrated circuits (ICs) solutions for video applications. Its products enable customers to deliver the energy efficient video quality on their devices.

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