Pixelworks, Inc. (NASDAQ:PXLW) Short Interest Up 24.8% in May

Pixelworks, Inc. (NASDAQ:PXLW) was the recipient of a large increase in short interest during the month of May. As of May 15th, there was short interest totalling 365,200 shares, an increase of 24.8% from the April 30th total of 292,700 shares. Based on an average daily trading volume, of 219,700 shares, the days-to-cover ratio is presently 1.7 days. Currently, 0.7% of the company’s shares are sold short.

Analyst Ratings Changes

PXLW has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $1.50 price target on shares of Pixelworks in a research note on Wednesday, May 14th. Wall Street Zen started coverage on shares of Pixelworks in a research note on Thursday, April 17th. They set a “sell” rating on the stock. Finally, Roth Mkm decreased their price target on shares of Pixelworks from $2.00 to $1.00 and set a “buy” rating for the company in a research note on Wednesday, May 14th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Raymond James Financial Inc. purchased a new stake in shares of Pixelworks in the fourth quarter worth $31,000. Parallel Advisors LLC bought a new stake in shares of Pixelworks in the 1st quarter worth $28,000. Renaissance Technologies LLC boosted its position in shares of Pixelworks by 44.4% during 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. Finally, Baird Financial Group Inc. lifted its stake in Pixelworks by 7.3% during the 1st quarter. Baird Financial Group Inc. now owns 4,571,669 shares of the semiconductor company’s stock valued at $2,866,000 after acquiring an additional 309,594 shares during the period. 21.37% of the stock is currently owned by institutional investors.

Pixelworks Stock Down 1.8%

PXLW stock traded down $0.01 during midday trading on Tuesday, hitting $0.46. The stock had a trading volume of 112,031 shares, compared to its average volume of 288,137. The business has a 50-day moving average of $0.54 and a two-hundred day moving average of $0.69. 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 firm has a market cap of $29.09 million, a price-to-earnings ratio of -0.94 and a beta of 1.39. Pixelworks has a 52-week low of $0.46 and a 52-week high of $1.18.

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.