Pixelworks (NASDAQ:PXLW) Raised to Hold at Wall Street Zen

Key Points

• Pixelworks has been upgraded from a "sell" to a "hold" rating by Wall Street Zen, indicating a shift in analysts' outlook on the stock.
• Target prices from various research analysts for Pixelworks have been adjusted, with estimates ranging from $10.00 to $13.00 amidst mixed ratings.
• The company has seen significant institutional activity, including purchases from several hedge funds, indicating renewed interest in Pixelworks stock.

Wall Street Zen upgraded shares of Pixelworks (NASDAQ:PXLW - Free Report) from a sell rating to a hold rating in a report published on Saturday morning.

Several other brokerages also recently issued reports on PXLW. Roth Capital set a $10.00 price objective on shares of Pixelworks and gave the stock a "buy" rating in a research note on Wednesday, August 13th. Needham & Company LLC lowered their price objective on shares of Pixelworks from $18.00 to $13.00 and set a "buy" rating on the stock in a research note on Wednesday, August 13th. Finally, Roth Mkm lowered their price objective 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 analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $11.67.

Pixelworks Stock Performance

PXLW stock traded down $0.05 during midday trading on Friday, hitting $8.10. 64,716 shares of the company traded hands, compared to its average volume of 120,912. Pixelworks has a twelve month low of $4.67 and a twelve month high of $15.03. 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 business has a 50 day simple moving average of $8.64 and a 200-day simple moving average of $7.89. The stock has a market capitalization of $43.21 million, a price-to-earnings ratio of -1.45 and a beta of 1.52.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC bought a new position in Pixelworks in the first quarter worth $28,000. Raymond James Financial Inc. bought a new position in Pixelworks in the fourth quarter worth $31,000. Renaissance Technologies LLC lifted its position in 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 purchasing an additional 225,948 shares during the period. Finally, Baird Financial Group Inc. lifted its position in 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 purchasing an additional 309,594 shares during the period. 21.37% of the stock is 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.