Short Interest in Pixelworks, Inc. (NASDAQ:PXLW) Drops By 39.1%

Pixelworks, Inc. (NASDAQ:PXLW) was the recipient of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 212,500 shares, a drop of 39.1% from the February 13th total of 349,100 shares. Based on an average daily volume of 349,700 shares, the short-interest ratio is presently 0.6 days. Currently, 0.4% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC restated a “buy” rating and set a $1.50 target price on shares of Pixelworks in a research note on Thursday, February 13th.

Pixelworks Stock Up 1.4 %

PXLW stock traded up $0.01 during midday trading on Friday, reaching $0.65. 180,586 shares of the company were exchanged, compared to its average volume of 352,152. The company has a market cap of $38.07 million, a price-to-earnings ratio of -1.32 and a beta of 1.81. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.57 and a current ratio of 4.02. Pixelworks has a 1-year low of $0.60 and a 1-year high of $3.05. The stock’s 50-day simple moving average is $0.78 and its 200 day simple moving average is $0.75.

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

Insider Buying and Selling

In related news, CFO Haley F. Aman sold 48,854 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $0.85, for a total transaction of $41,525.90. Following the completion of the transaction, the chief financial officer now directly owns 352,607 shares in the company, valued at $299,715.95. This trade represents a 12.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.70% of the stock is owned by company insiders.

Institutional Trading of Pixelworks

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. 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 valued at $3,109,000 after purchasing an additional 965,889 shares during the period. Renaissance Technologies LLC raised its position in Pixelworks by 44.4% during the 4th quarter. Renaissance Technologies LLC now owns 734,348 shares of the semiconductor company’s stock worth $536,000 after buying an additional 225,948 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Pixelworks in the 3rd quarter worth $91,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Pixelworks in the fourth quarter valued at about $31,000. 21.37% of the stock is owned by hedge funds and other institutional investors.

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.