Pixelworks (NASDAQ:PXLW) Stock Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• Pixelworks, Inc. (NASDAQ:PXLW) shares have exceeded their 200-day moving average, trading as high as $11.11 and closing at $10.65.
• Wall Street analysts show mixed sentiment, with Needham & Company maintaining a “buy” rating and a $18.00 target price, while Roth MKM lowered its price target from $24.00 to $12.00.
• Institutional investors hold about 21.37% of Pixelworks stock, with significant purchases made by hedge funds such as Renaissance Technologies and Baird Financial Group.

Pixelworks, Inc. (NASDAQ:PXLW - Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.95 and traded as high as $11.11. Pixelworks shares last traded at $10.65, with a volume of 25,450 shares traded.

Wall Street Analysts Forecast Growth

PXLW has been the subject of a number of analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $18.00 price target on shares of Pixelworks in a research report on Wednesday, May 14th. Roth Mkm lowered their price objective on Pixelworks from $24.00 to $12.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Finally, Wall Street Zen upgraded Pixelworks to a "sell" rating in a research report on Saturday, July 26th.

Pixelworks Stock Up 1.7%

The firm's 50-day moving average price is $8.05 and its 200 day moving average price is $7.97. The company has a current ratio of 3.46, a quick ratio of 2.90 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $48.77 million, a price-to-earnings ratio of -1.44 and a beta of 1.52.

Hedge Funds Weigh In On Pixelworks

Hedge funds and other institutional investors have recently modified their holdings of the business. Parallel Advisors LLC bought a new stake in shares of Pixelworks during the 1st quarter worth $28,000. Raymond James Financial Inc. bought a new position in shares of Pixelworks in the fourth quarter worth about $31,000. Renaissance Technologies LLC boosted its stake in shares of Pixelworks by 44.4% in the 4th quarter. Renaissance Technologies LLC now owns 734,348 shares of the semiconductor company's stock valued at $536,000 after purchasing an additional 225,948 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its stake in shares of Pixelworks by 29.3% in the 4th quarter. Baird Financial Group Inc. now owns 4,262,075 shares of the semiconductor company's stock valued at $3,109,000 after purchasing an additional 965,889 shares in the last quarter. 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.