Pixelworks, Inc. (NASDAQ:PXLW) Short Interest Down 26.9% in April

Pixelworks, Inc. (NASDAQ:PXLWGet Rating) was the target of a large drop in short interest in the month of April. As of April 15th, there was short interest totalling 877,300 shares, a drop of 26.9% from the March 31st total of 1,200,000 shares. Based on an average trading volume of 484,400 shares, the short-interest ratio is currently 1.8 days.

A number of equities research analysts have recently issued reports on PXLW shares. Colliers Securities raised shares of Pixelworks from a “neutral” rating to a “buy” rating and set a $5.00 target price on the stock in a report on Tuesday, January 18th. Zacks Investment Research cut shares of Pixelworks from a “buy” rating to a “hold” rating in a report on Wednesday, March 23rd. Finally, StockNews.com started coverage on shares of Pixelworks in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $6.69.

NASDAQ:PXLW traded up $0.06 on Monday, hitting $2.17. The stock had a trading volume of 5,285 shares, compared to its average volume of 563,585. The business’s fifty day moving average is $2.76 and its 200 day moving average is $3.74. The company has a market cap of $117.17 million, a PE ratio of -5.55 and a beta of 2.20. The company has a quick ratio of 4.44, a current ratio of 4.53 and a debt-to-equity ratio of 0.01. Pixelworks has a 52 week low of $2.08 and a 52 week high of $7.90.

Pixelworks (NASDAQ:PXLWGet Rating) last issued its quarterly earnings results on Thursday, February 10th. The semiconductor company reported ($0.03) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.02. Pixelworks had a negative return on equity of 29.02% and a negative net margin of 35.97%. The company had revenue of $16.59 million during the quarter, compared to the consensus estimate of $16.50 million. During the same period last year, the business posted ($0.11) earnings per share. Equities analysts predict that Pixelworks will post -0.2 earnings per share for the current fiscal year.

In related news, CEO Todd Debonis sold 58,780 shares of the stock in a transaction that occurred on Friday, February 18th. The shares were sold at an average price of $3.23, for a total value of $189,859.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 3.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the business. Marshall Wace LLP purchased a new position in shares of Pixelworks in the third quarter valued at $4,569,000. Barclays PLC increased its position in shares of Pixelworks by 14,470.3% in the third quarter. Barclays PLC now owns 733,759 shares of the semiconductor company’s stock worth $3,507,000 after purchasing an additional 728,723 shares during the last quarter. EAM Investors LLC bought a new position in shares of Pixelworks in the third quarter worth approximately $2,696,000. Millennium Management LLC increased its position in shares of Pixelworks by 40.8% in the fourth quarter. Millennium Management LLC now owns 1,683,696 shares of the semiconductor company’s stock worth $7,408,000 after purchasing an additional 487,932 shares during the last quarter. Finally, EAM Global Investors LLC bought a new position in shares of Pixelworks in the third quarter worth approximately $1,985,000. 38.57% of the stock is owned by institutional investors and hedge funds.

About Pixelworks (Get Rating)

Pixelworks, Inc develops and markets semiconductor and software solutions. The company provides video display processor products comprises image processor ICs, such as embedded microprocessors, digital signal processing technology, and software that control the operations and signal processing within high-end display systems; video co-processor ICs that work with an image processor to post-process video signals to enhance the performance or feature set of the overall video solution; and transcoder ICs, such as embedded microprocessors, digital signal processing technology, and software that control the operations and signal processing for converting bitrates, resolutions, and codecs.

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