Pixelworks (NASDAQ:PXLW) Rating Lowered to Sell at StockNews.com

Pixelworks (NASDAQ:PXLW) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a report released on Thursday.

Separately, Needham & Company LLC reissued a “buy” rating and set a $3.00 target price on shares of Pixelworks in a research note on Thursday, October 5th.

Pixelworks Stock Performance

NASDAQ PXLW opened at $1.16 on Thursday. The stock has a market cap of $65.22 million, a PE ratio of -2.90 and a beta of 1.84. The company has a current ratio of 6.45, a quick ratio of 5.94 and a debt-to-equity ratio of 0.04. Pixelworks has a twelve month low of $1.06 and a twelve month high of $2.32. The stock has a fifty day simple moving average of $1.22 and a 200-day simple moving average of $1.49.

Pixelworks (NASDAQ:PXLW) last released its quarterly earnings results on Tuesday, August 8th. The semiconductor company reported ($0.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.01. The business had revenue of $13.61 million during the quarter, compared to analysts’ expectations of $13.50 million. Pixelworks had a negative return on equity of 47.84% and a negative net margin of 37.69%. Equities analysts anticipate that Pixelworks will post -0.49 earnings per share for the current year.

Hedge Funds Weigh In On Pixelworks

Several hedge funds have recently bought and sold shares of PXLW. Quadrature Capital Ltd raised its position in Pixelworks by 79.1% in the 2nd quarter. Quadrature Capital Ltd now owns 33,238 shares of the semiconductor company’s stock valued at $57,000 after purchasing an additional 14,679 shares in the last quarter. Penn Capital Management Company LLC raised its position in Pixelworks by 20.5% in the 2nd quarter. Penn Capital Management Company LLC now owns 1,219,848 shares of the semiconductor company’s stock valued at $2,110,000 after purchasing an additional 207,753 shares in the last quarter. Renaissance Technologies LLC raised its position in Pixelworks by 9.5% in the 2nd quarter. Renaissance Technologies LLC now owns 574,900 shares of the semiconductor company’s stock valued at $995,000 after purchasing an additional 50,000 shares in the last quarter. Baird Financial Group Inc. raised its position in Pixelworks by 2.2% in the 2nd quarter. Baird Financial Group Inc. now owns 2,631,592 shares of the semiconductor company’s stock valued at $4,553,000 after purchasing an additional 56,504 shares in the last quarter. Finally, BlackRock Inc. raised its position in Pixelworks by 2.8% in the 2nd quarter. BlackRock Inc. now owns 843,256 shares of the semiconductor company’s stock valued at $1,459,000 after purchasing an additional 22,990 shares in the last quarter. Institutional investors and hedge funds own 23.61% of the company’s stock.

Pixelworks Company Profile

Pixelworks, Inc, together with its subsidiaries, develops and markets semiconductor and software solutions for mobile, home entertainment, over-the-air, cinema, and business and education markets. The company provides image processor integrated circuits, including embedded microprocessors, digital signal processing technology, and software that control the operations and signal processing within high-end display systems; visual processor integrated circuits, for mobile devices; and transcoder integrated circuits which comprise embedded microprocessors, digital signal processing technology, and software that control the operations and signal processing for converting bitrates, resolutions, and codecs.