Pixelworks, Inc. (NASDAQ:PXLW) Sees Significant Decrease in Short Interest

Pixelworks, Inc. (NASDAQ:PXLW) was the recipient of a large decline in short interest in August. As of August 31st, there was short interest totalling 257,700 shares, a decline of 27.0% from the August 15th total of 353,100 shares. Based on an average trading volume of 265,400 shares, the short-interest ratio is presently 1.0 days.

Pixelworks Stock Up 9.7 %

Shares of Pixelworks stock traded up $0.06 on Friday, reaching $0.70. 285,450 shares of the company were exchanged, compared to its average volume of 946,003. Pixelworks has a one year low of $0.61 and a one year high of $3.08. The company has a market capitalization of $40.69 million, a price-to-earnings ratio of -1.78 and a beta of 1.62. The company has a current ratio of 4.21, a quick ratio of 3.79 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average of $0.84 and a 200 day moving average of $1.43.

Pixelworks (NASDAQ:PXLW) last announced its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.03. Pixelworks had a negative return on equity of 72.81% and a negative net margin of 42.77%. The company had revenue of $8.54 million for the quarter, compared to analysts’ expectations of $8.50 million. On average, equities research analysts forecast that Pixelworks will post -0.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. StockNews.com cut Pixelworks from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Needham & Company LLC cut their target price on Pixelworks from $2.50 to $2.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th.

Institutional Investors Weigh In On Pixelworks

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC grew its holdings in 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 buying an additional 574,643 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Pixelworks by 5.9% in the 2nd quarter. Renaissance Technologies LLC now owns 495,700 shares of the semiconductor company’s stock valued at $487,000 after buying an additional 27,800 shares in the last quarter. ClariVest Asset Management LLC acquired a new position in Pixelworks in the 1st quarter valued at $530,000. Susquehanna Fundamental Investments LLC acquired a new position in Pixelworks in the 1st quarter valued at $84,000. Finally, Marathon Capital Management acquired a new position in Pixelworks in the 2nd quarter valued at $25,000. Institutional investors own 21.37% of the company’s stock.

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.