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

Key Points

• Pixelworks, Inc. stock (NASDAQ:PXLW) has recently crossed above its 200-day moving average of $7.88, reaching a high of $10.99.
• Multiple analysts have given the stock a consensus "Buy" rating, with a price target averaging $11.67.
• Institutional ownership of Pixelworks has increased, with Baird Financial Group raising its stake by 7.3% during the first quarter.

Shares of Pixelworks, Inc. (NASDAQ:PXLW - Get Free Report) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.88 and traded as high as $10.99. Pixelworks shares last traded at $10.68, with a volume of 161,444 shares traded.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Roth Capital set a $10.00 price objective on shares of Pixelworks and gave the stock a "buy" rating in a research report on Wednesday, August 13th. Needham & Company LLC lowered their target price on shares of Pixelworks from $18.00 to $13.00 and set a "buy" rating on the stock in a report on Wednesday, August 13th. Finally, Wall Street Zen raised shares of Pixelworks from a "sell" rating to a "hold" rating in a report on Saturday, September 13th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Pixelworks currently has a consensus rating of "Buy" and a consensus price target of $11.67.

Pixelworks Trading Down 0.7%

The business's 50 day simple moving average is $9.88 and its two-hundred day simple moving average is $7.88. The stock has a market cap of $57.03 million, a P/E ratio of -1.91 and a beta of 1.69. The company has a quick ratio of 2.35, a current ratio of 2.80 and a debt-to-equity ratio of 0.50.

Institutional Trading of Pixelworks

An institutional investor recently raised its position in Pixelworks stock. Baird Financial Group Inc. grew its stake in shares of Pixelworks, Inc. (NASDAQ:PXLW - Free Report) by 7.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,571,669 shares of the semiconductor company's stock after buying an additional 309,594 shares during the quarter. Baird Financial Group Inc. owned approximately 7.50% of Pixelworks worth $2,866,000 as of its most recent SEC filing. 21.37% of the stock is currently owned by institutional investors.

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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