Pixelworks, Inc. (NASDAQ:PXLW) Sees Large Decline in Short Interest

Pixelworks, Inc. (NASDAQ:PXLW) saw a significant decline in short interest in August. As of August 31st, there was short interest totaling 79,774 shares, a decline of 32.6% from the August 15th total of 118,304 shares. Approximately 1.4% of the shares of the stock are short sold. Based on an average daily volume of 36,979 shares, the days-to-cover ratio is presently 2.2 days.

Pixelworks Price Performance

Pixelworks stock traded up $0.24 during mid-day trading on Thursday, hitting $6.92. 18,926 shares of the company were exchanged, compared to its average volume of 61,183. Pixelworks has a 12-month low of $4.84 and a 12-month high of $15.42. The company has a market capitalization of $41.90 million, a P/E ratio of -4.25 and a beta of 1.52. The business’s 50 day simple moving average is $6.49 and its two-hundred day simple moving average is $6.18.

Pixelworks (NASDAQ:PXLW) last issued its quarterly earnings data on Tuesday, August 11th. The semiconductor company reported ($0.44) earnings per share (EPS) for the quarter. The firm had revenue of $0.06 million during the quarter. Equities research analysts predict that Pixelworks will post -1.58 earnings per share for the current year.

Insiders Place Their Bets

In other Pixelworks news, CFO Haley F. Aman sold 8,157 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $6.74, for a total value of $54,978.18. Following the sale, the chief financial officer owned 94,134 shares of the company’s stock, valued at approximately $634,463.16. This represents a 7.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Todd Debonis sold 7,917 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $6.74, for a total value of $53,360.58. Following the completion of the transaction, the chief executive officer owned 256,392 shares of the company’s stock, valued at approximately $1,728,082.08. This represents a 3.00% decrease in their position. The SEC filing for this sale provides additional information. 4.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Potomac Capital Management Inc. purchased a new position in Pixelworks in the 4th quarter valued at about $1,272,000. BlackRock Inc. purchased a new stake in shares of Pixelworks during the second quarter worth about $465,000. Nano Cap New Millennium Growth Fund L P acquired a new position in shares of Pixelworks in the fourth quarter valued at approximately $280,000. Emerald Mutual Fund Advisers Trust raised its position in shares of Pixelworks by 26.9% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 37,237 shares of the semiconductor company’s stock valued at $201,000 after buying an additional 7,904 shares during the last quarter. Finally, Squarepoint Ops LLC lifted its stake in shares of Pixelworks by 49.0% during the second quarter. Squarepoint Ops LLC now owns 18,552 shares of the semiconductor company’s stock valued at $116,000 after buying an additional 6,101 shares during the period. 21.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Pixelworks in a research report on Tuesday, September 8th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $16.00.

About Pixelworks

Pixelworks, Inc (NASDAQ: PXLW) is a semiconductor and software company that develops visual processing technologies for consumer electronics. Its solutions are designed to improve image quality, motion clarity, color accuracy and power efficiency in mobile devices, displays and entertainment systems.

The company’s product portfolio has included Iris visual processors for smartphones and other mobile devices, as well as display-processing technologies for televisions, monitors and projectors.