Pixelworks’ (PXLW) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Pixelworks (NASDAQ:PXLW) in a report issued on Thursday,Benzinga reports. Needham & Company LLC currently has a $1.50 price target on the semiconductor company’s stock.

Pixelworks Stock Performance

Shares of Pixelworks stock opened at $0.89 on Thursday. The company’s 50 day moving average price is $0.79 and its two-hundred day moving average price is $0.76. The firm has a market capitalization of $52.55 million, a P/E ratio of -1.90 and a beta of 1.65. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.02 and a quick ratio of 3.57. Pixelworks has a fifty-two week low of $0.61 and a fifty-two week high of $3.08.

Pixelworks (NASDAQ:PXLW) last issued 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 return on equity of 93.16% and a negative net margin of 50.01%. On average, equities analysts forecast that Pixelworks will post -0.49 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Todd Debonis sold 41,884 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $0.74, for a total transaction of $30,994.16. Following the completion of the transaction, the chief executive officer now directly owns 1,699,300 shares of the company’s stock, valued at $1,257,482. This trade represents a 2.41 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Pixelworks

A number of hedge funds have recently made changes to their positions in PXLW. Renaissance Technologies LLC increased 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 valued at $536,000 after purchasing an additional 225,948 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of Pixelworks during the third quarter worth $91,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Pixelworks during the fourth quarter worth $31,000. 21.37% of the stock is currently owned by 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.