Pixelworks, Inc. (NASDAQ:PXLW) Short Interest Update

Key Points

• Pixelworks, Inc. experienced a significant 51.0% drop in short interest in July, with current short interest totaling 39,800 shares.
• Several hedge funds have recently increased their holdings in Pixelworks, with institutional investors now owning 21.37% of the stock.
• Analysts have set varied price targets for Pixelworks, with Roth Capital establishing a price target of $10.00 while other firms have made downward adjustments.

Pixelworks, Inc. (NASDAQ:PXLW - Get Free Report) was the target of a significant decrease in short interest in July. As of July 31st, there was short interest totaling 39,800 shares, adecreaseof51.0% from the July 15th total of 81,200 shares. Currently,0.8% of the company's stock are sold short. Based on an average daily volume of 72,200 shares, the short-interest ratio is currently 0.6 days. Based on an average daily volume of 72,200 shares, the short-interest ratio is currently 0.6 days. Currently,0.8% of the company's stock are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PXLW. Raymond James Financial Inc. acquired a new stake in Pixelworks in the 4th quarter valued at approximately $31,000. Parallel Advisors LLC acquired a new position in shares of Pixelworks in the first quarter worth $28,000. Renaissance Technologies LLC grew its stake in shares of Pixelworks by 44.4% in the fourth quarter. Renaissance Technologies LLC now owns 734,348 shares of the semiconductor company's stock worth $536,000 after acquiring an additional 225,948 shares in the last quarter. Finally, Baird Financial Group Inc. grew its stake in shares of Pixelworks by 7.3% in the first quarter. Baird Financial Group Inc. now owns 4,571,669 shares of the semiconductor company's stock worth $2,866,000 after acquiring an additional 309,594 shares in the last quarter. 21.37% of the stock is currently owned by hedge funds and other institutional investors.

Pixelworks Price Performance

Pixelworks stock traded up $0.2550 during midday trading on Friday, reaching $8.0650. The company had a trading volume of 54,011 shares, compared to its average volume of 44,882. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.80 and a quick ratio of 2.35. The firm's fifty day simple moving average is $8.69 and its 200-day simple moving average is $7.88. Pixelworks has a 12-month low of $4.67 and a 12-month high of $15.03. The company has a market capitalization of $43.07 million, a P/E ratio of -1.44 and a beta of 1.52.

Analyst Upgrades and Downgrades

PXLW has been the topic of several analyst reports. Needham & Company LLC cut their price target on Pixelworks from $18.00 to $13.00 and set a "buy" rating on the stock in a research report on Wednesday, August 13th. Roth Capital set a $10.00 price target on Pixelworks and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Wall Street Zen raised shares of Pixelworks from a "sell" rating to a "hold" rating in a research note on Saturday, August 16th. Finally, Roth Mkm lowered their target price on shares of Pixelworks from $24.00 to $12.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Pixelworks presently has a consensus rating of "Buy" and a consensus price target of $11.67.

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.