Pixelworks, Inc. (NASDAQ:PXLW) Sees Significant Drop in Short Interest

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 recipient of a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 39,800 shares, adropof51.0% from the July 15th total of 81,200 shares. Based on an average daily trading volume, of 72,200 shares, the short-interest ratio is currently 0.6 days. Approximately0.8% of the shares of the company are sold short. Approximately0.8% of the shares of the company are sold short. Based on an average daily trading volume, of 72,200 shares, the short-interest ratio is currently 0.6 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of PXLW. Baird Financial Group Inc. grew its holdings in Pixelworks by 29.3% during the fourth quarter. Baird Financial Group Inc. now owns 4,262,075 shares of the semiconductor company's stock worth $3,109,000 after acquiring an additional 965,889 shares during the period. Renaissance Technologies LLC boosted its position in Pixelworks by 44.4% during the 4th 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 during the period. Parallel Advisors LLC acquired a new stake in Pixelworks during the 1st quarter worth about $28,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Pixelworks during the 4th quarter valued at about $31,000. 21.37% of the stock is owned by institutional investors and hedge funds.

Pixelworks Price Performance

NASDAQ:PXLW opened at $9.54 on Friday. The business's 50-day moving average price is $8.47 and its 200 day moving average price is $7.92. The firm has a market cap of $50.94 million, a P/E ratio of -1.71 and a beta of 1.52. Pixelworks has a 52-week low of $4.67 and a 52-week high of $15.03. The company has a quick ratio of 2.90, a current ratio of 2.80 and a debt-to-equity ratio of 0.50.

Analyst Upgrades and Downgrades

PXLW has been the topic of a number of research analyst reports. Roth Capital set a $10.00 price target on Pixelworks and gave the company a "buy" rating in a report on Wednesday. Roth Mkm lowered their price target on Pixelworks from $24.00 to $12.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Needham & Company LLC lowered their price target on Pixelworks from $18.00 to $13.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Wall Street Zen raised Pixelworks from a "sell" rating to a "hold" rating in a report on Saturday.

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.

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