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

Pixelworks, Inc. (NASDAQ:PXLW) was the recipient of a large decrease in short interest in August. As of August 31st, there was short interest totalling 257,700 shares, a decrease of 27.0% from the August 15th total of 353,100 shares. Based on an average daily trading volume, of 265,400 shares, the days-to-cover ratio is currently 1.0 days.

Pixelworks Price Performance

Shares of PXLW traded up $0.06 during trading hours on Friday, hitting $0.70. 285,450 shares of the company were exchanged, compared to its average volume of 946,003. The firm’s fifty day moving average is $0.84 and its 200 day moving average is $1.43. The company has a market cap of $40.69 million, a price-to-earnings ratio of -1.78 and a beta of 1.62. The company has a quick ratio of 3.79, a current ratio of 4.21 and a debt-to-equity ratio of 0.03. Pixelworks has a fifty-two week low of $0.61 and a fifty-two week high of $3.08.

Pixelworks (NASDAQ:PXLW) last released its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.03. The business had revenue of $8.54 million for the quarter, compared to analyst estimates of $8.50 million. Pixelworks had a negative return on equity of 72.81% and a negative net margin of 42.77%. On average, equities analysts anticipate that Pixelworks will post -0.51 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PXLW shares. StockNews.com lowered Pixelworks from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Needham & Company LLC reduced their target price on Pixelworks from $2.50 to $2.00 and set a “buy” rating on the stock in a report on Thursday, August 8th.

Institutional Trading of Pixelworks

Large investors have recently bought and sold shares of the business. Marathon Capital Management bought a new position in Pixelworks in the second quarter valued at about $25,000. Traynor Capital Management Inc. bought a new position in Pixelworks in the 1st quarter valued at approximately $39,000. SG Americas Securities LLC bought a new position in Pixelworks in the 1st quarter valued at approximately $50,000. Susquehanna Fundamental Investments LLC acquired a new stake in Pixelworks during the 1st quarter worth approximately $84,000. Finally, Renaissance Technologies LLC grew its holdings in Pixelworks by 5.9% during the 2nd quarter. Renaissance Technologies LLC now owns 495,700 shares of the semiconductor company’s stock worth $487,000 after acquiring an additional 27,800 shares during the last quarter. 21.37% of the stock is 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.