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

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 report report published on Saturday.

A number of other brokerages have also recently commented on PXLW. Roth Mkm decreased their price target on Pixelworks from $24.00 to $12.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $18.00 price target on shares of Pixelworks in a research note on Wednesday, May 14th.

Pixelworks Trading Down 10.1%

Pixelworks stock traded down $1.37 during trading hours on Friday, reaching $12.22. The company had a trading volume of 261,734 shares, compared to its average volume of 77,543. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.46 and a quick ratio of 2.90. The company has a 50-day moving average price of $7.21 and a 200 day moving average price of $7.87. The firm has a market cap of $65.01 million, a price-to-earnings ratio of -1.92 and a beta of 1.45. Pixelworks has a 12-month low of $4.67 and a 12-month high of $15.03.

Hedge Funds Weigh In On Pixelworks

Hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC purchased a new position in shares of Pixelworks during the first quarter valued at approximately $28,000. Raymond James Financial Inc. purchased a new position in shares of Pixelworks during the fourth quarter valued at approximately $31,000. Renaissance Technologies LLC increased its stake in shares of Pixelworks by 44.4% during the fourth quarter. Renaissance Technologies LLC now owns 734,348 shares of the semiconductor company's stock valued at $536,000 after buying an additional 225,948 shares during the period. Finally, Baird Financial Group Inc. increased its stake in shares of Pixelworks by 7.3% during the first quarter. Baird Financial Group Inc. now owns 4,571,669 shares of the semiconductor company's stock valued at $2,866,000 after buying an additional 309,594 shares during the period. 21.37% of the stock is owned by hedge funds and other 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.