Needham & Company LLC Reiterates “Buy” Rating for Pixelworks (NASDAQ:PXLW)

Pixelworks (NASDAQ:PXLW)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a research report issued on Thursday,Benzinga reports. They presently have a $1.50 target price on the semiconductor company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 68.24% from the stock’s previous close.

Pixelworks Price Performance

NASDAQ PXLW opened at $0.89 on Thursday. The company has a quick ratio of 3.57, a current ratio of 4.02 and a debt-to-equity ratio of 0.03. Pixelworks has a 12-month low of $0.61 and a 12-month high of $3.08. The company has a market capitalization of $52.55 million, a PE ratio of -1.90 and a beta of 1.65. The firm’s 50 day moving average is $0.79 and its 200-day moving average is $0.77.

Pixelworks (NASDAQ:PXLW) last posted its quarterly earnings data on Wednesday, February 12th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. Pixelworks had a negative net margin of 50.01% and a negative return on equity of 93.16%. Equities research analysts anticipate that Pixelworks will post -0.49 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Todd Debonis sold 41,884 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $0.74, for a total transaction of $30,994.16. Following the transaction, the chief executive officer now directly owns 1,699,300 shares in the company, valued at approximately $1,257,482. The trade was a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Pixelworks

A number of institutional investors have recently added to or reduced their stakes in PXLW. Raymond James Financial Inc. acquired a new position in Pixelworks during the fourth quarter worth $31,000. GSA Capital Partners LLP bought a new position in Pixelworks during the third quarter worth $91,000. Finally, Renaissance Technologies LLC boosted its position in Pixelworks by 44.4% during the fourth quarter. Renaissance Technologies LLC now owns 734,348 shares of the semiconductor company’s stock worth $536,000 after purchasing an additional 225,948 shares during the period. 21.37% of the stock is currently owned by institutional investors and hedge funds.

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.