Short Interest in Pixelworks, Inc. (NASDAQ:PXLW) Declines By 77.8%

Pixelworks, Inc. (NASDAQ:PXLW) saw a significant decrease in short interest during the month of May. As of May 31st, there was short interest totalling 81,000 shares, a decrease of 77.8% from the May 15th total of 365,200 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average daily volume of 20,400 shares, the days-to-cover ratio is currently 4.0 days.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PXLW. Wall Street Zen began coverage on Pixelworks in a research report on Thursday, April 17th. They set a “sell” rating on the stock. Roth Mkm reduced their price target on Pixelworks from $24.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, May 14th. Finally, Needham & Company LLC reissued a “buy” rating and set a $18.00 price target on shares of Pixelworks in a research report on Wednesday, May 14th.

Pixelworks Stock Down 8.2%

NASDAQ PXLW opened at $5.07 on Thursday. The business has a fifty day moving average price of $6.27 and a two-hundred day moving average price of $8.13. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.02 and a quick ratio of 3.57. Pixelworks has a fifty-two week low of $5.05 and a fifty-two week high of $14.16. The stock has a market capitalization of $26.59 million, a PE ratio of -10.35 and a beta of 1.40.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new position in shares of Pixelworks in the fourth quarter valued at approximately $31,000. Parallel Advisors LLC acquired a new position in shares of Pixelworks in the first quarter valued at approximately $28,000. Renaissance Technologies LLC increased 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 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 29.3% in 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 buying an additional 965,889 shares during the period. 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.