Pixelworks (NASDAQ:PXLW) Rating Increased 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 issued on Saturday.

Other equities analysts have also issued reports about the company. Roth Mkm reduced their price target on Pixelworks from $24.00 to $12.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Roth Capital set a $10.00 target price on Pixelworks and gave the company a "buy" rating in a research report on Wednesday. Finally, Needham & Company LLC cut their target price on Pixelworks from $18.00 to $13.00 and set a "buy" rating on the stock in a research report on Wednesday.

Pixelworks Trading Down 0.8%

PXLW traded down $0.08 during midday trading on Friday, hitting $9.54. The company's stock had a trading volume of 32,570 shares, compared to its average volume of 117,767. The company has a current ratio of 2.80, a quick ratio of 2.35 and a debt-to-equity ratio of 0.50. Pixelworks has a 52-week low of $4.67 and a 52-week high of $15.03. The firm has a market cap of $50.94 million, a P/E ratio of -1.71 and a beta of 1.52. The firm has a 50-day moving average price of $8.47 and a two-hundred day moving average price of $7.90.

Institutional Investors Weigh In On Pixelworks

A number of institutional investors have recently made changes to their positions in PXLW. Parallel Advisors LLC bought a new position in shares of Pixelworks in the first quarter worth $28,000. Renaissance Technologies LLC grew its stake in shares of 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 in the last quarter. Raymond James Financial Inc. bought a new position in shares of Pixelworks in the fourth quarter worth $31,000. Finally, Baird Financial Group Inc. grew its stake in shares of Pixelworks by 29.3% in the fourth quarter. Baird Financial Group Inc. now owns 4,262,075 shares of the semiconductor company's stock worth $3,109,000 after purchasing an additional 965,889 shares in the last quarter. 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.