Pixelworks, Inc. (NASDAQ:PXLW) Sees Large Growth in Short Interest

Pixelworks, Inc. (NASDAQ:PXLW) saw a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 465,300 shares, an increase of 55.7% from the September 30th total of 298,800 shares. Based on an average daily volume of 288,700 shares, the days-to-cover ratio is currently 1.6 days.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Needham & Company LLC decreased their price objective on Pixelworks from $2.50 to $2.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. StockNews.com downgraded shares of Pixelworks from a “hold” rating to a “sell” rating in a research note on Friday, August 9th.

Pixelworks Stock Down 3.8 %

Pixelworks stock traded down $0.03 during midday trading on Tuesday, reaching $0.75. The company’s stock had a trading volume of 128,826 shares, compared to its average volume of 850,147. The company has a market cap of $43.91 million, a P/E ratio of -1.67 and a beta of 1.61. The company has a quick ratio of 3.79, a current ratio of 4.21 and a debt-to-equity ratio of 0.03. The business has a 50-day simple moving average of $0.72 and a 200-day simple moving average of $1.02. Pixelworks has a fifty-two week low of $0.61 and a fifty-two week high of $3.08.

Pixelworks (NASDAQ:PXLW) last announced its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.03. The firm had revenue of $8.54 million for the quarter, compared to analyst estimates of $8.50 million. Pixelworks had a negative net margin of 42.77% and a negative return on equity of 72.81%. On average, research analysts expect that Pixelworks will post -0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Marathon Capital Management acquired a new stake in shares of Pixelworks during the second quarter worth about $25,000. SG Americas Securities LLC purchased a new position in shares of Pixelworks in the 1st quarter valued at approximately $50,000. Susquehanna Fundamental Investments LLC acquired a new position in shares of Pixelworks in the first quarter valued at approximately $84,000. Renaissance Technologies LLC raised its stake in shares of Pixelworks by 5.9% during the second quarter. Renaissance Technologies LLC now owns 495,700 shares of the semiconductor company’s stock worth $487,000 after purchasing an additional 27,800 shares during the last quarter. Finally, ClariVest Asset Management LLC acquired a new stake in shares of Pixelworks during the first quarter worth $530,000. Institutional investors and hedge funds own 21.37% of the company’s stock.

Pixelworks Company Profile

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.