Pixelworks, Inc. (NASDAQ:PXLW) Short Interest Down 47.7% in March

Pixelworks, Inc. (NASDAQ:PXLW) was the target of a large decrease in short interest in the month of March. As of March 31st, there was short interest totalling 251,400 shares, a decrease of 47.7% from the March 15th total of 481,000 shares. Based on an average daily trading volume, of 311,700 shares, the days-to-cover ratio is currently 0.8 days. Currently, 0.4% of the company’s stock are short sold.

Pixelworks Price Performance

Shares of NASDAQ PXLW traded down $0.03 during midday trading on Wednesday, reaching $0.56. 30,358 shares of the stock traded hands, compared to its average volume of 358,462. Pixelworks has a one year low of $0.48 and a one year high of $2.03. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.02 and a quick ratio of 3.57. The company’s 50 day moving average is $0.69 and its 200 day moving average is $0.74. The stock has a market capitalization of $34.34 million, a PE ratio of -1.15 and a beta of 1.74.

Pixelworks (NASDAQ:PXLW) last issued its quarterly earnings results on Wednesday, February 12th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.02. Pixelworks had a negative return on equity of 111.21% and a negative net margin of 66.47%. On average, equities research analysts anticipate that Pixelworks will post -0.27 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Haley F. Aman sold 48,854 shares of Pixelworks stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $0.85, for a total value of $41,525.90. Following the completion of the sale, the chief financial officer now owns 352,607 shares of the company’s stock, valued at approximately $299,715.95. This trade represents a 12.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.70% of the stock is owned by company insiders.

Institutional Trading of Pixelworks

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James Financial Inc. acquired a new stake in Pixelworks during the fourth quarter valued at $31,000. Parallel Advisors LLC purchased a new stake in shares of Pixelworks in the 1st quarter valued at approximately $28,000. Baird Financial Group Inc. increased its stake in Pixelworks by 29.3% during the fourth quarter. Baird Financial Group Inc. now owns 4,262,075 shares of the semiconductor company’s stock worth $3,109,000 after acquiring an additional 965,889 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in Pixelworks by 44.4% in the fourth quarter. Renaissance Technologies LLC now owns 734,348 shares of the semiconductor company’s stock valued at $536,000 after buying an additional 225,948 shares during the last quarter. Institutional investors and hedge funds own 21.37% of the company’s stock.

Analyst Ratings Changes

Separately, Needham & Company LLC reissued a “buy” rating and issued a $1.50 price target on shares of Pixelworks in a report on Thursday, February 13th.

About Pixelworks

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.