Pixelworks, Inc. (NASDAQ:PXLW) Sees Significant Drop in Short Interest

Pixelworks, Inc. (NASDAQ:PXLW) was the recipient of a large drop in short interest during the month of September. As of September 30th, there was short interest totalling 298,800 shares, a drop of 36.7% from the September 15th total of 471,800 shares. Based on an average daily trading volume, of 274,100 shares, the days-to-cover ratio is presently 1.1 days.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PXLW shares. Needham & Company LLC reduced their price objective on Pixelworks from $2.50 to $2.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. StockNews.com downgraded shares of Pixelworks from a “hold” rating to a “sell” rating in a research report on Friday, August 9th.

Institutional Trading of Pixelworks

Several hedge funds have recently modified their holdings of the business. Acadian Asset Management LLC lifted its stake in shares of Pixelworks by 219.0% in the first quarter. Acadian Asset Management LLC now owns 734,287 shares of the semiconductor company’s stock valued at $1,893,000 after purchasing an additional 504,071 shares during the period. Traynor Capital Management Inc. purchased a new position in Pixelworks in the first quarter valued at about $39,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Pixelworks during the 1st quarter valued at approximately $84,000. SG Americas Securities LLC purchased a new stake in shares of Pixelworks during the 1st quarter worth approximately $50,000. Finally, ClariVest Asset Management LLC purchased a new stake in shares of Pixelworks during the 1st quarter worth approximately $530,000. 21.37% of the stock is owned by institutional investors and hedge funds.

Pixelworks Stock Performance

Pixelworks stock traded up $0.11 during mid-day trading on Monday, reaching $0.91. 426,803 shares of the company were exchanged, compared to its average volume of 881,107. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.79 and a current ratio of 4.21. The firm’s 50-day simple moving average is $0.72 and its two-hundred day simple moving average is $1.13. Pixelworks has a twelve month low of $0.61 and a twelve month high of $3.08. The firm has a market cap of $52.71 million, a PE ratio of -2.35 and a beta of 1.61.

Pixelworks (NASDAQ:PXLW) last released its earnings results on Wednesday, August 7th. The semiconductor company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.03. The company had revenue of $8.54 million during the quarter, compared to analysts’ expectations of $8.50 million. Pixelworks had a negative net margin of 42.77% and a negative return on equity of 72.81%. Equities analysts predict that Pixelworks will post -0.51 earnings per share for the current fiscal year.

Pixelworks Company 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.