Pixelworks, Inc. (NASDAQ:PXLW) Short Interest Up 30.9% in February

Pixelworks, Inc. (NASDAQ:PXLW) saw a significant increase in short interest in the month of February. As of February 28th, there was short interest totalling 669,650 shares, an increase of 30.9% from the February 15th total of 511,444 shares. Based on an average trading volume of 747,174 shares, the days-to-cover ratio is presently 0.9 days. Currently, 2.9% of the shares of the company are sold short.

In other news, Director Daniel Heneghan purchased 20,000 shares of Pixelworks stock in a transaction dated Friday, February 23rd. The stock was bought at an average price of $4.33 per share, with a total value of $86,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.50% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in Pixelworks by 16.1% in the second quarter. Vanguard Group Inc. now owns 1,183,883 shares of the semiconductor company’s stock worth $5,435,000 after purchasing an additional 163,923 shares during the period. Acadian Asset Management LLC lifted its holdings in Pixelworks by 76.3% in the fourth quarter. Acadian Asset Management LLC now owns 228,702 shares of the semiconductor company’s stock worth $1,449,000 after purchasing an additional 99,014 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in Pixelworks by 74.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 87,000 shares of the semiconductor company’s stock worth $410,000 after purchasing an additional 37,100 shares during the period. Cadence Capital Management LLC acquired a new stake in Pixelworks in the fourth quarter worth about $1,615,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Pixelworks in the third quarter worth about $305,000. 39.69% of the stock is owned by institutional investors and hedge funds.

Several equities analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Pixelworks from a “sell” rating to a “hold” rating in a report on Wednesday, January 10th. Roth Capital reissued a “buy” rating and set a $8.00 price target on shares of Pixelworks in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $6.81.

Shares of Pixelworks (PXLW) opened at $4.48 on Tuesday. The firm has a market cap of $152.65, a PE ratio of -40.72 and a beta of 0.69. Pixelworks has a 1-year low of $4.05 and a 1-year high of $7.05. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.99 and a quick ratio of 1.83.

Pixelworks (NASDAQ:PXLW) last posted its quarterly earnings data on Thursday, February 15th. The semiconductor company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.01. The business had revenue of $18.40 million during the quarter, compared to the consensus estimate of $18.08 million. Pixelworks had a negative net margin of 5.18% and a positive return on equity of 11.87%. The company’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.04 earnings per share. analysts forecast that Pixelworks will post -0.06 EPS for the current fiscal year.

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Pixelworks Company Profile

Pixelworks, Inc designs, develops and markets video and pixel processing semiconductors, intellectual property cores, software and custom application specific integrated circuit (ASIC) solutions for digital video applications. The Company is engaged in the design and development of integrated circuits (ICs) for use in electronic display devices.

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