Pixelworks, Inc. (NASDAQ:PXLW) Sees Large Drop in Short Interest

Pixelworks, Inc. (NASDAQ:PXLW) saw a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 130,209 shares, a decline of 41.1% from the May 14th total of 220,916 shares. Approximately 2.1% of the shares of the stock are sold short. Based on an average daily volume of 171,344 shares, the short-interest ratio is presently 0.8 days.

Pixelworks Price Performance

PXLW traded down $0.13 on Monday, reaching $6.91. 95,746 shares of the company traded hands, compared to its average volume of 133,890. The stock’s 50 day moving average price is $6.12 and its 200-day moving average price is $6.20. Pixelworks has a 52-week low of $4.84 and a 52-week high of $15.42. The company has a market cap of $43.95 million, a price-to-earnings ratio of -2.95 and a beta of 1.71.

Insider Activity at Pixelworks

In other news, CEO Todd Debonis sold 12,274 shares of Pixelworks stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $5.98, for a total value of $73,398.52. Following the transaction, the chief executive officer directly owned 214,309 shares of the company’s stock, valued at $1,281,567.82. This trade represents a 5.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Haley F. Aman sold 12,371 shares of Pixelworks stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $5.98, for a total transaction of $73,978.58. Following the completion of the transaction, the chief financial officer directly owned 68,291 shares in the company, valued at approximately $408,380.18. This trade represents a 15.34% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 4.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PXLW. Vanguard Group Inc. grew its position in Pixelworks by 2.5% during the third quarter. Vanguard Group Inc. now owns 277,394 shares of the semiconductor company’s stock valued at $3,040,000 after purchasing an additional 6,796 shares in the last quarter. Susquehanna International Group LLP purchased a new position in Pixelworks during the third quarter valued at approximately $155,000. Magnus Financial Group LLC purchased a new position in Pixelworks during the fourth quarter valued at approximately $80,000. F m Investments LLC purchased a new position in Pixelworks during the fourth quarter valued at approximately $187,000. Finally, Nano Cap New Millennium Growth Fund L P acquired a new stake in Pixelworks in the fourth quarter valued at approximately $280,000. 21.37% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings raised shares of Pixelworks from a “sell (d-)” rating to a “sell (d)” rating in a research report on Thursday. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $15.00.

Pixelworks Company Profile

Pixelworks, Inc (NASDAQ:PXLW) is a provider of video processing semiconductors and software solutions designed to enhance display performance across a range of consumer and commercial applications. The company’s core offerings include high-performance video processing SoCs, pixel processing silicon, and accompanying firmware that deliver advanced image enhancement, color calibration, and high-dynamic-range (HDR) support. These solutions are tailored to improve picture quality, reduce latency, and optimize power consumption in digital displays.

Pixelworks’ product portfolio addresses diverse end markets such as digital projectors, flat-panel televisions, set-top boxes, mobile devices, automotive infotainment displays, and digital signage.