Pixelworks, Inc. (NASDAQ:PXLW) Short Interest Update

Pixelworks, Inc. (NASDAQ:PXLW) was the target of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 262,300 shares, a drop of 43.6% from the October 15th total of 465,300 shares. Based on an average trading volume of 281,100 shares, the days-to-cover ratio is presently 0.9 days.

Analysts Set New Price Targets

Several research analysts recently commented on PXLW shares. Needham & Company LLC cut their price objective on shares of Pixelworks from $2.00 to $1.50 and set a “buy” rating for the company in a report on Wednesday. StockNews.com cut Pixelworks from a “hold” rating to a “sell” rating in a research report on Friday, August 9th.

Hedge Funds Weigh In On Pixelworks

Large investors have recently bought and sold shares of the business. GSA Capital Partners LLP acquired a new stake in Pixelworks during the third quarter worth about $91,000. Marathon Capital Management purchased a new position in Pixelworks in the second quarter worth approximately $25,000. Renaissance Technologies LLC raised its position in 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. Acadian Asset Management LLC lifted its stake in shares of Pixelworks by 78.3% in the 2nd quarter. Acadian Asset Management LLC now owns 1,308,930 shares of the semiconductor company’s stock valued at $1,286,000 after purchasing an additional 574,643 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in Pixelworks in the 1st quarter valued at about $84,000. Institutional investors and hedge funds own 21.37% of the company’s stock.

Pixelworks Stock Performance

Shares of NASDAQ PXLW traded up $0.12 during midday trading on Wednesday, reaching $0.80. The company had a trading volume of 919,558 shares, compared to its average volume of 821,422. The company has a current ratio of 4.21, a quick ratio of 3.79 and a debt-to-equity ratio of 0.03. Pixelworks has a 1 year low of $0.61 and a 1 year high of $3.08. The business’s 50-day simple moving average is $0.72 and its 200 day simple moving average is $0.94. The stock has a market cap of $46.84 million, a P/E ratio of -1.74 and a beta of 1.61.

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.