Pixelworks, Inc. (NASDAQ:PXLW) Short Interest Up 126.4% in March

Pixelworks, Inc. (NASDAQ:PXLW) was the recipient of a large growth in short interest during the month of March. As of March 15th, there was short interest totalling 481,000 shares, a growth of 126.4% from the February 28th total of 212,500 shares. Currently, 0.9% of the shares of the company are short sold. Based on an average daily volume of 345,800 shares, the days-to-cover ratio is presently 1.4 days.

Pixelworks Stock Performance

PXLW opened at $0.64 on Friday. The firm has a market cap of $38.96 million, a P/E ratio of -1.31 and a beta of 1.81. Pixelworks has a 1-year low of $0.60 and a 1-year high of $2.70. The company has a 50 day simple moving average of $0.78 and a two-hundred day simple moving average of $0.76. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.02 and a quick ratio of 3.57.

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

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, CFO Haley F. Aman sold 48,854 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $0.85, for a total transaction 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 $299,715.95. The trade was a 12.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 4.70% of the company’s stock.

Institutional Trading of Pixelworks

Institutional investors have recently made changes to their positions in the business. Raymond James Financial Inc. bought a new position in Pixelworks in the 4th quarter worth approximately $31,000. Renaissance Technologies LLC raised 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 holdings in shares of Pixelworks by 29.3% in the fourth quarter. Baird Financial Group Inc. now owns 4,262,075 shares of the semiconductor company’s stock worth $3,109,000 after buying an additional 965,889 shares in the last quarter. Hedge funds and other institutional investors own 21.37% of the company’s stock.

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.