Pixelworks (NASDAQ:PXLW) Price Target Lowered to $2.50 at Needham & Company LLC

Pixelworks (NASDAQ:PXLW) had its price target trimmed by Needham & Company LLC from $3.50 to $2.50 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a buy rating on the semiconductor company’s stock.

Separately, StockNews.com cut Pixelworks from a hold rating to a sell rating in a research report on Monday.

Pixelworks Price Performance

Shares of PXLW stock traded up $0.03 during midday trading on Wednesday, reaching $1.24. 1,058,341 shares of the company traded hands, compared to its average volume of 1,459,437. The firm’s 50 day simple moving average is $2.20 and its two-hundred day simple moving average is $1.81. The firm has a market cap of $71.67 million, a PE ratio of -2.57 and a beta of 1.82. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.26 and a quick ratio of 4.94. Pixelworks has a 1-year low of $1.01 and a 1-year high of $3.08.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Acadian Asset Management LLC increased its position in Pixelworks by 5.2% during the third quarter. Acadian Asset Management LLC now owns 262,109 shares of the semiconductor company’s stock worth $294,000 after buying an additional 12,955 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Pixelworks by 22.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 80,096 shares of the semiconductor company’s stock worth $91,000 after purchasing an additional 14,610 shares in the last quarter. Traynor Capital Management Inc. purchased a new position in Pixelworks in the 1st quarter valued at about $39,000. SG Americas Securities LLC purchased a new stake in shares of Pixelworks during the first quarter worth about $50,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Pixelworks in the first quarter valued at approximately $84,000. 21.37% of the stock is currently owned by institutional investors and hedge funds.

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.