Pixelworks, Inc. (NASDAQ:PXLW – Get Free Report) was the recipient of a significant drop in short interest in the month of August. As of August 31st, there was short interest totaling 79,774 shares, a drop of 32.6% from the August 15th total of 118,304 shares. Based on an average daily volume of 36,979 shares, the days-to-cover ratio is currently 2.2 days. Approximately 1.4% of the shares of the company are short sold.
Insider Buying and Selling at Pixelworks
In other Pixelworks news, CEO Todd Debonis sold 7,917 shares of the company’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $6.74, for a total transaction of $53,360.58. Following the completion of the transaction, the chief executive officer owned 256,392 shares in the company, valued at approximately $1,728,082.08. This represents a 3.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Haley F. Aman sold 8,157 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $6.74, for a total transaction of $54,978.18. Following the transaction, the chief financial officer owned 94,134 shares of the company’s stock, valued at approximately $634,463.16. The trade was a 7.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.70% of the stock is owned by company insiders.
Institutional Trading of Pixelworks
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Potomac Capital Management Inc. purchased a new stake in Pixelworks during the fourth quarter worth about $1,272,000. BlackRock Inc. acquired a new stake in shares of Pixelworks during the 2nd quarter valued at approximately $465,000. Nano Cap New Millennium Growth Fund L P acquired a new stake in shares of Pixelworks during the 4th quarter valued at approximately $280,000. Emerald Mutual Fund Advisers Trust boosted its stake in shares of Pixelworks by 26.9% during the 1st quarter. Emerald Mutual Fund Advisers Trust now owns 37,237 shares of the semiconductor company’s stock worth $201,000 after acquiring an additional 7,904 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its stake in shares of Pixelworks by 49.0% during the 2nd quarter. Squarepoint Ops LLC now owns 18,552 shares of the semiconductor company’s stock worth $116,000 after acquiring an additional 6,101 shares in the last quarter. Institutional investors and hedge funds own 21.37% of the company’s stock.
Pixelworks Stock Up 3.7%
Pixelworks (NASDAQ:PXLW – Get Free Report) last released its quarterly earnings data on Tuesday, August 11th. The semiconductor company reported ($0.44) earnings per share (EPS) for the quarter. The business had revenue of $0.06 million during the quarter. Research analysts predict that Pixelworks will post -1.58 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Pixelworks in a research note on Tuesday, September 8th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $16.00.
Read Our Latest Stock Report on PXLW
Pixelworks Company Profile
Pixelworks, Inc (NASDAQ: PXLW) is a semiconductor and software company that develops visual processing technologies for consumer electronics. Its solutions are designed to improve image quality, motion clarity, color accuracy and power efficiency in mobile devices, displays and entertainment systems.
The company’s product portfolio has included Iris visual processors for smartphones and other mobile devices, as well as display-processing technologies for televisions, monitors and projectors.
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