Needham & Company LLC Has Lowered Expectations for Pixelworks (NASDAQ:PXLW) Stock Price

Pixelworks (NASDAQ:PXLW) had its target price lowered by Needham & Company LLC from $2.00 to $1.50 in a research report released on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

Separately, StockNews.com lowered shares of Pixelworks from a “hold” rating to a “sell” rating in a research report on Friday, August 9th.

Pixelworks Stock Performance

Shares of NASDAQ:PXLW traded down $0.02 during midday trading on Wednesday, reaching $0.83. The company’s stock had a trading volume of 355,946 shares, compared to its average volume of 817,568. The firm has a market capitalization of $49.16 million, a PE ratio of -1.81 and a beta of 1.61. Pixelworks has a twelve month low of $0.61 and a twelve month high of $3.08. The stock has a fifty day moving average of $0.73 and a 200 day moving average of $0.94. The company has a quick ratio of 3.79, a current ratio of 4.02 and a debt-to-equity ratio of 0.03.

Institutional Trading of Pixelworks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PXLW. Marathon Capital Management purchased a new position in Pixelworks during the second quarter valued at $25,000. SG Americas Securities LLC purchased a new position in Pixelworks during the first quarter valued at $50,000. Susquehanna Fundamental Investments LLC purchased a new position in Pixelworks during the first quarter valued at $84,000. GSA Capital Partners LLP purchased a new position in shares of Pixelworks in the third quarter worth about $91,000. Finally, Renaissance Technologies LLC lifted its stake in shares of Pixelworks by 5.9% in the second quarter. Renaissance Technologies LLC now owns 495,700 shares of the semiconductor company’s stock worth $487,000 after buying an additional 27,800 shares in the last quarter. Institutional investors and hedge funds own 21.37% of the company’s stock.

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.