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

Pixelworks, Inc. (NASDAQ:PXLW) saw a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 365,200 shares, a growth of 24.8% from the April 30th total of 292,700 shares. Based on an average daily trading volume, of 219,700 shares, the short-interest ratio is currently 1.7 days. Approximately 0.7% of the company’s shares are sold short.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Roth Mkm lowered their target price on Pixelworks from $2.00 to $1.00 and set a “buy” rating for the company in a research note on Wednesday, May 14th. Wall Street Zen assumed coverage on Pixelworks in a research note on Thursday, April 17th. They set a “sell” rating for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $1.50 target price on shares of Pixelworks in a report on Wednesday, May 14th.

Pixelworks Stock Performance

Shares of Pixelworks stock opened at $0.51 on Thursday. The firm has a market cap of $32.25 million, a price-to-earnings ratio of -1.05 and a beta of 1.39. The stock’s 50-day moving average is $0.54 and its 200-day moving average is $0.69. Pixelworks has a one year low of $0.46 and a one year high of $1.18. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.02 and a quick ratio of 3.57.

Institutional Trading of Pixelworks

Institutional investors have recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in shares of Pixelworks in the fourth quarter valued at about $31,000. Parallel Advisors LLC bought a new stake in shares of Pixelworks in the first quarter valued at about $28,000. Renaissance Technologies LLC raised its holdings in Pixelworks by 44.4% during 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 in the last quarter. Finally, Baird Financial Group Inc. boosted its position in Pixelworks by 29.3% during the fourth quarter. Baird Financial Group Inc. now owns 4,262,075 shares of the semiconductor company’s stock valued at $3,109,000 after purchasing an additional 965,889 shares during 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.