Short Interest in Pixelworks, Inc. (NASDAQ:PXLW) Increases By 126.4%

Pixelworks, Inc. (NASDAQ:PXLW) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 481,000 shares, an increase of 126.4% from the February 28th total of 212,500 shares. Currently, 0.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 345,800 shares, the days-to-cover ratio is currently 1.4 days.

Pixelworks Stock Down 7.2 %

Shares of NASDAQ:PXLW opened at $0.64 on Friday. The company has a current ratio of 4.02, a quick ratio of 3.57 and a debt-to-equity ratio of 0.03. The stock has a fifty day simple moving average of $0.78 and a two-hundred day simple moving average of $0.76. Pixelworks has a 12-month low of $0.60 and a 12-month high of $2.70. The stock has a market capitalization of $38.96 million, a price-to-earnings ratio of -1.31 and a beta of 1.81.

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

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC restated a “buy” rating and issued a $1.50 price objective on shares of Pixelworks in a report on Thursday, February 13th.

Insiders Place Their Bets

In other news, CFO Haley F. Aman sold 48,854 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $0.85, for a total value of $41,525.90. Following the transaction, the chief financial officer now owns 352,607 shares in the company, valued at approximately $299,715.95. This trade represents a 12.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Pixelworks

A number of hedge funds have recently added to or reduced their stakes in PXLW. Baird Financial Group Inc. boosted its holdings in shares of Pixelworks by 29.3% during the 4th quarter. Baird Financial Group Inc. now owns 4,262,075 shares of the semiconductor company’s stock valued at $3,109,000 after acquiring an additional 965,889 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Pixelworks by 44.4% in the fourth 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 during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Pixelworks in the fourth quarter worth approximately $31,000. 21.37% of the stock is currently owned by hedge funds and other institutional investors.

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.