Needham & Company LLC Issues Pessimistic Forecast for Pixelworks (NASDAQ:PXLW) Stock Price

Pixelworks (NASDAQ:PXLW) had its target price decreased by Needham & Company LLC from $2.00 to $1.50 in a report published on Wednesday morning,Benzinga reports. Needham & Company LLC currently has a buy rating on the semiconductor company’s stock.

Separately, StockNews.com lowered Pixelworks from a “hold” rating to a “sell” rating in a research note on Friday, August 9th.

Pixelworks Price Performance

PXLW opened at $0.83 on Wednesday. The business’s 50-day moving average is $0.73 and its two-hundred day moving average is $0.93. Pixelworks has a 1 year low of $0.61 and a 1 year high of $3.08. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.02 and a quick ratio of 3.79. The firm has a market capitalization of $49.16 million, a PE ratio of -1.77 and a beta of 1.61.

Institutional Investors Weigh In On Pixelworks

A number of large investors have recently modified their holdings of PXLW. Acadian Asset Management LLC grew its stake in shares of Pixelworks by 78.3% during the second quarter. Acadian Asset Management LLC now owns 1,308,930 shares of the semiconductor company’s stock worth $1,286,000 after acquiring an additional 574,643 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Pixelworks during the third quarter worth about $91,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Pixelworks during the first quarter worth about $84,000. Renaissance Technologies LLC grew its stake in shares of Pixelworks by 5.9% during the second quarter. Renaissance Technologies LLC now owns 495,700 shares of the semiconductor company’s stock worth $487,000 after acquiring an additional 27,800 shares during the last quarter. Finally, Marathon Capital Management purchased a new stake in shares of Pixelworks during the second quarter worth about $25,000. Hedge funds and other institutional investors own 21.37% of the company’s stock.

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.