Pixelworks, Inc. (NASDAQ:PXLW) Short Interest Up 29.9% in April

Pixelworks, Inc. (NASDAQ:PXLW) was the recipient of a significant growth in short interest in April. As of April 15th, there was short interest totalling 326,600 shares, a growth of 29.9% from the March 31st total of 251,400 shares. Based on an average daily trading volume, of 269,400 shares, the short-interest ratio is presently 1.2 days. Currently, 0.6% of the company’s stock are sold short.

Insider Buying and Selling at Pixelworks

In related news, CFO Haley F. Aman sold 48,854 shares of the stock in a transaction 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 directly owns 352,607 shares of the company’s stock, valued at approximately $299,715.95. This represents a 12.17 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 4.70% of the company’s stock.

Institutional Trading of Pixelworks

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC bought a new stake in shares of Pixelworks during the first quarter valued at about $28,000. Raymond James Financial Inc. bought a new position in Pixelworks in the 4th quarter valued at $31,000. Renaissance Technologies LLC grew its position in shares of 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 purchasing an additional 225,948 shares in the last quarter. Finally, Baird Financial Group Inc. increased its holdings in shares of Pixelworks by 29.3% in the fourth quarter. Baird Financial Group Inc. now owns 4,262,075 shares of the semiconductor company’s stock worth $3,109,000 after purchasing an additional 965,889 shares during the period. 21.37% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PXLW shares. StockNews.com began coverage on shares of Pixelworks in a research report on Thursday, April 17th. They issued a “sell” rating for the company. Needham & Company LLC reiterated a “buy” rating and set a $1.50 price target on shares of Pixelworks in a report on Thursday, February 13th.

Pixelworks Price Performance

Shares of NASDAQ PXLW opened at $0.53 on Friday. The firm has a market cap of $32.61 million, a price-to-earnings ratio of -1.09 and a beta of 1.74. The stock has a fifty day simple moving average of $0.61 and a two-hundred day simple moving average of $0.72. The company has a current ratio of 4.02, a quick ratio of 3.57 and a debt-to-equity ratio of 0.03. Pixelworks has a 1-year low of $0.48 and a 1-year high of $2.03.

Pixelworks (NASDAQ:PXLW) last announced its quarterly earnings data on Wednesday, February 12th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. Pixelworks had a negative return on equity of 111.21% and a negative net margin of 66.47%. Analysts anticipate that Pixelworks will post -0.27 earnings per share for the current year.

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.