Pixelworks (NASDAQ:PXLW) Given “Buy” Rating at Needham & Company LLC

Pixelworks (NASDAQ:PXLW)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a research note issued to investors on Wednesday,Benzinga reports. They presently have a $1.50 price objective on the semiconductor company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 154.71% from the company’s current price.

Separately, StockNews.com began coverage on shares of Pixelworks in a report on Thursday, April 17th. They issued a “sell” rating on the stock.

Pixelworks Price Performance

Shares of NASDAQ:PXLW opened at $0.59 on Wednesday. The firm has a market cap of $35.91 million, a PE ratio of -1.20 and a beta of 1.39. Pixelworks has a 52 week low of $0.48 and a 52 week high of $1.89. The firm’s fifty day moving average is $0.59 and its 200-day moving average is $0.71. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.57 and a current ratio of 4.02.

Pixelworks (NASDAQ:PXLW) last released its earnings results on Tuesday, May 13th. The semiconductor company reported ($0.12) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.01). Pixelworks had a negative return on equity of 111.21% and a negative net margin of 66.47%. Sell-side analysts predict that Pixelworks will post -0.27 earnings per share for the current year.

Insider Activity

In other Pixelworks news, CFO Haley F. Aman sold 48,854 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $0.85, for a total value of $41,525.90. Following the completion of the sale, the chief financial officer now owns 352,607 shares of the company’s stock, valued at $299,715.95. This represents a 12.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On Pixelworks

A number of hedge funds have recently made changes to their positions in PXLW. Raymond James Financial Inc. purchased a new position in Pixelworks in the 4th quarter worth $31,000. Parallel Advisors LLC purchased a new position in shares of Pixelworks in the first quarter worth about $28,000. Renaissance Technologies LLC boosted its holdings in Pixelworks by 44.4% during the 4th 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 during the period. Finally, Baird Financial Group Inc. grew its position in Pixelworks by 29.3% during the 4th quarter. Baird Financial Group Inc. now owns 4,262,075 shares of the semiconductor company’s stock worth $3,109,000 after acquiring an additional 965,889 shares during the last quarter. 21.37% of the stock is currently owned by institutional investors.

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.