Pixelworks, Inc. (NASDAQ:PXLW) was the recipient of a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 669,650 shares, an increase of 30.9% from the February 15th total of 511,444 shares. Approximately 2.9% of the shares of the stock are short sold. Based on an average daily trading volume, of 747,174 shares, the days-to-cover ratio is currently 0.9 days.
In related news, Director Daniel Heneghan bought 20,000 shares of the stock in a transaction on Friday, February 23rd. The shares were purchased at an average price of $4.33 per share, for a total transaction of $86,600.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 4.50% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Teachers Advisors LLC raised its holdings in Pixelworks by 24.4% during the fourth quarter. Teachers Advisors LLC now owns 62,058 shares of the semiconductor company’s stock worth $393,000 after purchasing an additional 12,187 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Pixelworks by 15.3% during the third quarter. Bank of New York Mellon Corp now owns 97,753 shares of the semiconductor company’s stock worth $461,000 after purchasing an additional 12,962 shares in the last quarter. Strs Ohio bought a new position in shares of Pixelworks in the fourth quarter valued at $105,000. AXA increased its holdings in shares of Pixelworks by 99.3% in the fourth quarter. AXA now owns 33,938 shares of the semiconductor company’s stock valued at $215,000 after buying an additional 16,909 shares in the last quarter. Finally, Macquarie Group Ltd. bought a new position in shares of Pixelworks in the third quarter valued at $108,000. 39.69% of the stock is currently owned by institutional investors.
Several equities research analysts have recently issued reports on PXLW shares. Roth Capital restated a “buy” rating and set a $8.00 price objective on shares of Pixelworks in a report on Tuesday, January 2nd. Zacks Investment Research lowered Pixelworks from a “hold” rating to a “sell” rating in a research report on Wednesday, March 7th. One investment analyst has rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. Pixelworks presently has a consensus rating of “Buy” and an average target price of $6.81.
Shares of Pixelworks (NASDAQ PXLW) opened at $4.48 on Tuesday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.83 and a current ratio of 1.99. The firm has a market capitalization of $152.65, a PE ratio of 33.00 and a beta of 0.69. Pixelworks has a 52 week low of $4.05 and a 52 week high of $7.05.
Pixelworks (NASDAQ:PXLW) last posted its quarterly earnings results on Thursday, February 15th. The semiconductor company reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01. Pixelworks had a positive return on equity of 11.87% and a negative net margin of 5.18%. The business had revenue of $18.40 million during the quarter, compared to the consensus estimate of $18.08 million. During the same period last year, the firm earned $0.04 earnings per share. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. sell-side analysts predict that Pixelworks will post -0.06 EPS for the current fiscal year.
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Pixelworks Company Profile
Pixelworks, Inc designs, develops and markets video and pixel processing semiconductors, intellectual property cores, software and custom application specific integrated circuit (ASIC) solutions for digital video applications. The Company is engaged in the design and development of integrated circuits (ICs) for use in electronic display devices.
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