Pixelworks (NASDAQ:PXLW) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

Pixelworks, Inc. (NASDAQ:PXLW)’s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $7.77 and traded as high as $8.61. Pixelworks shares last traded at $8.26, with a volume of 185,134 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PXLW shares. Roth Mkm lowered their price target on shares of Pixelworks from $24.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, May 14th. Roth Capital set a $10.00 price target on shares of Pixelworks and gave the company a “buy” rating in a report on Wednesday, August 13th. Wall Street Zen raised shares of Pixelworks from a “sell” rating to a “hold” rating in a report on Saturday, August 16th. Finally, Needham & Company LLC lowered their price target on shares of Pixelworks from $18.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, August 13th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $11.67.

Pixelworks Trading Down 4.2%

The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.35 and a current ratio of 2.80. The company has a market capitalization of $44.11 million, a price-to-earnings ratio of -1.48 and a beta of 1.68. The business’s 50-day simple moving average is $8.96 and its 200-day simple moving average is $7.77.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Baird Financial Group Inc. raised its position in shares of Pixelworks by 7.3% in the 1st quarter. Baird Financial Group Inc. now owns 4,571,669 shares of the semiconductor company’s stock valued at $2,866,000 after acquiring an additional 309,594 shares during the period. Parallel Advisors LLC acquired a new stake in shares of Pixelworks in the 1st quarter valued at approximately $28,000. Finally, Raymond James Financial Inc. acquired a new stake in Pixelworks during the 4th quarter worth approximately $31,000. 21.37% of the stock is currently owned by institutional investors and hedge funds.

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.