Short Interest in Pixelworks, Inc. (NASDAQ:PXLW) Expands By 28.6%

Pixelworks, Inc. (NASDAQ:PXLW) saw a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 557,700 shares, an increase of 28.6% from the June 15th total of 433,800 shares. Based on an average daily volume of 547,500 shares, the short-interest ratio is presently 1.0 days.

Insiders Place Their Bets

In other Pixelworks news, CEO Todd Debonis sold 24,842 shares of Pixelworks stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $1.15, for a total transaction of $28,568.30. Following the completion of the sale, the chief executive officer now directly owns 1,765,223 shares in the company, valued at approximately $2,030,006.45. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.70% of the stock is owned by insiders.

Institutional Trading of Pixelworks

Several hedge funds have recently made changes to their positions in PXLW. Traynor Capital Management Inc. acquired a new stake in shares of Pixelworks during the first quarter worth about $39,000. SG Americas Securities LLC acquired a new stake in Pixelworks in the first quarter valued at approximately $50,000. Susquehanna Fundamental Investments LLC acquired a new stake in Pixelworks in the first quarter valued at approximately $84,000. Essex Investment Management Co. LLC acquired a new stake in Pixelworks in the fourth quarter valued at approximately $255,000. Finally, ClariVest Asset Management LLC acquired a new stake in Pixelworks in the first quarter valued at approximately $530,000. Institutional investors and hedge funds own 21.37% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on PXLW shares. StockNews.com upgraded shares of Pixelworks from a “sell” rating to a “hold” rating in a research note on Tuesday, May 21st. Craig Hallum decreased their target price on shares of Pixelworks from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Needham & Company LLC reduced their price objective on shares of Pixelworks from $3.50 to $2.50 and set a “buy” rating for the company in a research report on Wednesday, May 15th. Finally, Roth Mkm reduced their price objective on shares of Pixelworks from $3.00 to $2.00 and set a “buy” rating for the company in a research report on Wednesday, May 15th.

Pixelworks Price Performance

PXLW stock remained flat at $1.05 during mid-day trading on Monday. 242,429 shares of the company’s stock traded hands, compared to its average volume of 1,168,821. The company has a quick ratio of 4.51, a current ratio of 4.78 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $60.41 million, a price-to-earnings ratio of -2.68 and a beta of 1.63. The firm’s 50-day simple moving average is $1.13 and its two-hundred day simple moving average is $1.76. Pixelworks has a one year low of $0.87 and a one year high of $3.08.

Pixelworks (NASDAQ:PXLW) last announced its earnings results on Tuesday, May 14th. The semiconductor company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.01. The company had revenue of $16.05 million during the quarter, compared to analyst estimates of $16.00 million. Pixelworks had a negative net margin of 33.22% and a negative return on equity of 55.94%. Research analysts predict that Pixelworks will post -0.51 EPS for the current year.

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.