Parallel Advisors LLC Invests $28,000 in Pixelworks, Inc. (NASDAQ:PXLW)

Parallel Advisors LLC acquired a new position in Pixelworks, Inc. (NASDAQ:PXLW) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 44,652 shares of the semiconductor company’s stock, valued at approximately $28,000. Parallel Advisors LLC owned about 0.07% of Pixelworks at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PXLW. Raymond James Financial Inc. bought a new position in Pixelworks in the fourth quarter worth approximately $31,000. Renaissance Technologies LLC increased its stake in shares of Pixelworks by 44.4% in the 4th quarter. Renaissance Technologies LLC now owns 734,348 shares of the semiconductor company’s stock worth $536,000 after purchasing an additional 225,948 shares in the last quarter. Finally, Baird Financial Group Inc. raised its holdings in Pixelworks by 29.3% in the 4th 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.

Pixelworks Stock Down 3.4%

PXLW opened at $5.84 on Tuesday. The stock has a market cap of $367.65 million, a price-to-earnings ratio of -11.92 and a beta of 1.40. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.57 and a current ratio of 4.02. The firm’s fifty day moving average is $0.63 and its 200 day moving average is $0.72. Pixelworks, Inc. has a fifty-two week low of $5.46 and a fifty-two week high of $14.16.

Analysts Set New Price Targets

PXLW has been the subject of several recent research reports. Roth Mkm cut their price target on Pixelworks from $2.00 to $1.00 and set a “buy” rating for the company in a report on Wednesday, May 14th. Wall Street Zen began coverage on Pixelworks in a research note on Thursday, April 17th. They set a “sell” rating for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $1.50 target price on shares of Pixelworks in a report on Wednesday, May 14th.

Pixelworks Profile

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.