Needham & Company LLC Reiterates Buy Rating for Pixelworks (NASDAQ:PXLW)

Needham & Company LLC restated their buy rating on shares of Pixelworks (NASDAQ:PXLW) in a research report sent to investors on Thursday,Benzinga reports. They currently have a $1.50 price objective on the semiconductor company’s stock.

Pixelworks Price Performance

Pixelworks stock opened at $0.89 on Thursday. The stock’s 50 day moving average price is $0.79 and its two-hundred day moving average price is $0.76. The stock has a market capitalization of $52.55 million, a price-to-earnings ratio of -1.90 and a beta of 1.65. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.57 and a current ratio of 4.02. Pixelworks has a 52-week low of $0.61 and a 52-week high of $3.08.

Pixelworks (NASDAQ:PXLW) last issued its earnings results on Wednesday, February 12th. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.02. Pixelworks had a negative net margin of 50.01% and a negative return on equity of 93.16%. On average, equities analysts predict that Pixelworks will post -0.49 earnings per share for the current year.

Insider Buying and Selling

In other Pixelworks news, CEO Todd Debonis sold 41,884 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $0.74, for a total transaction of $30,994.16. Following the completion of the sale, the chief executive officer now owns 1,699,300 shares in the company, valued at approximately $1,257,482. The trade was a 2.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PXLW. Renaissance Technologies LLC raised its holdings in shares of Pixelworks by 44.4% in the 4th 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. GSA Capital Partners LLP bought a new stake in Pixelworks during the 3rd quarter worth approximately $91,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Pixelworks in the fourth quarter worth approximately $31,000. 21.37% of the stock is currently owned by institutional investors and hedge funds.

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.