Pixelworks (NASDAQ:PXLW) Stock Rating Upgraded by Wall Street Zen

Key Points

• Pixelworks has been upgraded to a "sell" rating by Wall Street Zen in a recent research report.
• Other analysts have varied opinions, with Needham & Company maintaining a "buy" rating and a price target of $18.00, while Roth Mkm reduced their price target from $24.00 to $12.00.
• The stock is currently trading at $12.22, showing a significant range with a fifty-two week low of $4.67 and a high of $15.03.

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

Several other equities analysts have also weighed in on PXLW. Roth Mkm cut their price objective on shares of Pixelworks from $24.00 to $12.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Needham & Company LLC reissued a "buy" rating and issued a $18.00 price target on shares of Pixelworks in a research report on Wednesday, May 14th.

Pixelworks Stock Down 12.2%

PXLW traded down $1.49 during midday trading on Friday, hitting $10.75. 64,011 shares of the company's stock traded hands, compared to its average volume of 42,268. The company has a market cap of $57.19 million, a PE ratio of -1.69 and a beta of 1.45. The stock's fifty day simple moving average is $7.33 and its 200-day simple moving average is $7.88. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.46 and a quick ratio of 2.90. Pixelworks has a one year low of $4.67 and a one year high of $15.03.

Hedge Funds Weigh In On Pixelworks

Institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in shares of Pixelworks in the fourth quarter valued at approximately $31,000. Parallel Advisors LLC acquired a new stake 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 acquiring an additional 225,948 shares during the last quarter. 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 acquiring an additional 965,889 shares during the last quarter. Institutional investors 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.