Short Interest in Pixelworks, Inc. (NASDAQ:PXLW) Decreases By 45.8%

Pixelworks, Inc. (NASDAQ:PXLW) was the target of a significant decline in short interest in December. As of December 31st, there was short interest totalling 118,400 shares, a decline of 45.8% from the December 15th total of 218,500 shares. Based on an average daily trading volume, of 339,900 shares, the days-to-cover ratio is presently 0.3 days.

Pixelworks Stock Performance

Shares of PXLW traded down $0.01 on Tuesday, reaching $0.72. 135,519 shares of the stock traded hands, compared to its average volume of 415,752. The firm has a market cap of $42.44 million, a price-to-earnings ratio of -1.53 and a beta of 1.63. Pixelworks has a 12 month low of $0.61 and a 12 month high of $3.08. The stock’s 50-day moving average price is $0.75 and its 200-day moving average price is $0.79. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.02 and a quick ratio of 3.57.

Insider Activity

In related news, CEO Todd Debonis sold 41,884 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $0.74, for a total value of $30,994.16. Following the completion of the sale, the chief executive officer now directly owns 1,699,300 shares in the company, valued at approximately $1,257,482. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Pixelworks

Several large investors have recently modified their holdings of the stock. Acadian Asset Management LLC raised its stake in 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 acquiring an additional 574,643 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Pixelworks in the 3rd quarter worth about $91,000. Renaissance Technologies LLC increased its position in shares of Pixelworks by 5.9% during the 2nd quarter. Renaissance Technologies LLC now owns 495,700 shares of the semiconductor company’s stock worth $487,000 after purchasing an additional 27,800 shares in the last quarter. Finally, Marathon Capital Management acquired a new position in Pixelworks in the second quarter valued at about $25,000. 21.37% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

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.