Short Interest in Pixelworks, Inc. (NASDAQ:PXLW) Drops By 44.7%

Pixelworks, Inc. (NASDAQ:PXLW) was the recipient of a significant decline in short interest in the month of December. As of December 15th, there was short interest totalling 218,500 shares, a decline of 44.7% from the November 30th total of 395,300 shares. Based on an average daily volume of 294,500 shares, the days-to-cover ratio is presently 0.7 days.

Wall Street Analyst Weigh In

Separately, Needham & Company LLC lowered their target price on Pixelworks from $2.00 to $1.50 and set a “buy” rating on the stock in a research note on Wednesday, November 13th.

Pixelworks Stock Down 2.4 %

PXLW opened at $0.70 on Friday. The company has a fifty day moving average of $0.75 and a two-hundred day moving average of $0.81. The stock has a market capitalization of $41.36 million, a price-to-earnings ratio of -1.49 and a beta of 1.65. Pixelworks has a fifty-two week low of $0.61 and a fifty-two week high of $3.08. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.57 and a current ratio of 4.02.

Insider Buying and Selling

In related news, CEO Todd Debonis sold 41,884 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were 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 in the company, valued at $1,257,482. The trade was a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Pixelworks

Several institutional investors and hedge funds have recently modified their holdings of PXLW. Marathon Capital Management acquired a new stake in Pixelworks in the second quarter valued at approximately $25,000. GSA Capital Partners LLP acquired a new position in Pixelworks during the third quarter worth $91,000. Renaissance Technologies LLC grew its position in shares of Pixelworks by 5.9% in the second quarter. Renaissance Technologies LLC now owns 495,700 shares of the semiconductor company’s stock valued at $487,000 after purchasing an additional 27,800 shares during the period. Finally, Acadian Asset Management LLC increased its stake in shares of Pixelworks by 78.3% during the second quarter. Acadian Asset Management LLC now owns 1,308,930 shares of the semiconductor company’s stock worth $1,286,000 after purchasing an additional 574,643 shares in the last quarter. Hedge funds and other institutional investors own 21.37% of the company’s stock.

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.