Pixelworks’ (PXLW) “Buy” Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Pixelworks (NASDAQ:PXLW) in a research note issued to investors on Wednesday,Benzinga reports. Needham & Company LLC currently has a $1.50 target price on the semiconductor company’s stock.

Separately, StockNews.com started coverage on Pixelworks in a report on Thursday, April 17th. They issued a “sell” rating on the stock.

Pixelworks Stock Performance

Shares of PXLW opened at $0.56 on Wednesday. The stock has a 50-day simple moving average of $0.59 and a 200-day simple moving average of $0.71. 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 1 year low of $0.48 and a 1 year high of $1.34. The stock has a market capitalization of $34.16 million, a PE ratio of -1.14 and a beta of 1.39.

Pixelworks (NASDAQ:PXLW) last announced its quarterly earnings data on Tuesday, May 13th. The semiconductor company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.01). The firm had revenue of $7.09 million during the quarter, compared to analysts’ expectations of $7.43 million. Pixelworks had a negative net margin of 66.47% and a negative return on equity of 111.21%. On average, analysts predict that Pixelworks will post -0.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Haley F. Aman sold 48,854 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $0.85, for a total transaction of $41,525.90. Following the transaction, the chief financial officer now owns 352,607 shares in the company, valued at $299,715.95. This trade represents a 12.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Pixelworks

A number of hedge funds have recently modified their holdings of the business. Parallel Advisors LLC purchased a new position in shares of Pixelworks during the first quarter worth about $28,000. Baird Financial Group Inc. increased its position in Pixelworks by 29.3% during the 4th quarter. Baird Financial Group Inc. now owns 4,262,075 shares of the semiconductor company’s stock worth $3,109,000 after purchasing an additional 965,889 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Pixelworks during the 4th quarter worth approximately $31,000. Finally, Renaissance Technologies LLC lifted 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 valued at $536,000 after buying an additional 225,948 shares during the period. 21.37% of the stock is currently owned by hedge funds and other institutional investors.

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.