Short Interest in Pixelworks, Inc. (NASDAQ:PXLW) Declines By 77.8%

Pixelworks, Inc. (NASDAQ:PXLW) was the target of a large drop in short interest during the month of May. As of May 31st, there was short interest totalling 81,000 shares, a drop of 77.8% from the May 15th total of 365,200 shares. Based on an average daily volume of 20,400 shares, the short-interest ratio is presently 4.0 days. Currently, 0.1% of the company’s shares are short sold.

Pixelworks Stock Performance

Shares of Pixelworks stock opened at $5.07 on Thursday. 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 business has a 50-day moving average price of $6.27 and a two-hundred day moving average price of $8.13. Pixelworks has a 1-year low of $5.05 and a 1-year high of $14.16. The company has a market cap of $26.59 million, a P/E ratio of -10.35 and a beta of 1.40.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $18.00 target price on shares of Pixelworks in a research report on Wednesday, May 14th. Roth Mkm lowered their target price on Pixelworks from $24.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday, May 14th. Finally, Wall Street Zen assumed coverage on Pixelworks in a research report on Thursday, April 17th. They set a “sell” rating for the company.

Institutional Trading of Pixelworks

A number of large investors have recently bought and sold shares of the business. Baird Financial Group Inc. grew its holdings in Pixelworks by 7.3% during the 1st quarter. Baird Financial Group Inc. now owns 4,571,669 shares of the semiconductor company’s stock worth $2,866,000 after acquiring an additional 309,594 shares during the period. Renaissance Technologies LLC grew 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 worth $536,000 after acquiring an additional 225,948 shares during the period. Parallel Advisors LLC acquired a new stake in Pixelworks during the 1st quarter worth about $28,000. Finally, Raymond James Financial Inc. acquired a new stake in Pixelworks during the 4th quarter worth about $31,000. 21.37% of the stock is currently owned by institutional investors and hedge funds.

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.