Pixelworks (NASDAQ:PXLW) Shares Pass Above 200-Day Moving Average - Here's Why

Key Points

• Pixelworks Inc. shares recently surged above their 200-day moving average of $8.27, trading as high as $15.36 before settling at $15.23.
• Research analysts have mixed opinions on Pixelworks, with Wall Street Zen upgrading the stock to a "hold" rating while Weiss Ratings maintains a "sell" rating.
• Institutional ownership in Pixelworks is significant, with hedge fund Baird Financial Group Inc. increasing its stake by 7.3%, owning about 21.37% of the company's shares.

Pixelworks, Inc. (NASDAQ:PXLW - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.27 and traded as high as $15.36. Pixelworks shares last traded at $15.23, with a volume of 356,871 shares trading hands.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wall Street Zen upgraded Pixelworks from a "sell" rating to a "hold" rating in a research note on Saturday, September 13th. Weiss Ratings restated a "sell (d-)" rating on shares of Pixelworks in a research note on Wednesday, October 8th. Roth Capital set a $10.00 price target on Pixelworks and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Finally, Needham & Company LLC decreased their price target on Pixelworks from $18.00 to $13.00 and set a "buy" rating for the company in a research note on Wednesday, August 13th. Three equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $11.67.

Pixelworks Stock Up 18.6%

The company has a quick ratio of 2.35, a current ratio of 2.80 and a debt-to-equity ratio of 0.50. The company has a market cap of $85.74 million, a P/E ratio of -2.72 and a beta of 1.71. The company has a fifty day moving average of $10.21 and a 200 day moving average of $8.27.

Institutional Trading of Pixelworks

A hedge fund recently raised its stake in Pixelworks stock. Baird Financial Group Inc. increased its position in Pixelworks, Inc. (NASDAQ:PXLW - Free Report) by 7.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,571,669 shares of the semiconductor company's stock after acquiring an additional 309,594 shares during the period. Baird Financial Group Inc. owned about 7.50% of Pixelworks worth $2,866,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 21.37% of the company's stock.

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.

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