Pixelworks, Inc. (NASDAQ:PXLW) Short Interest Up 126.4% in March

Pixelworks, Inc. (NASDAQ:PXLW) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 481,000 shares, an increase of 126.4% from the February 28th total of 212,500 shares. Currently, 0.9% of the company’s stock are short sold. Based on an average daily volume of 345,800 shares, the days-to-cover ratio is presently 1.4 days.

Insider Buying and Selling at Pixelworks

In other Pixelworks news, CFO Haley F. Aman sold 48,854 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $0.85, for a total value of $41,525.90. Following the transaction, the chief financial officer now directly owns 352,607 shares in the company, valued at approximately $299,715.95. This trade represents a 12.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.70% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new position in shares of Pixelworks during the 4th quarter valued at about $31,000. Baird Financial Group Inc. lifted its position 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 worth $3,109,000 after buying an additional 965,889 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Pixelworks by 44.4% during 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 last quarter. 21.37% of the stock is owned by hedge funds and other institutional investors.

Pixelworks Price Performance

Shares of PXLW traded down $0.05 during mid-day trading on Friday, reaching $0.64. The stock had a trading volume of 178,801 shares, compared to its average volume of 371,628. The business has a fifty day moving average of $0.78 and a 200 day moving average of $0.76. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.57 and a current ratio of 4.02. The firm has a market cap of $38.96 million, a price-to-earnings ratio of -1.31 and a beta of 1.81. Pixelworks has a 12 month low of $0.60 and a 12 month high of $2.70.

Pixelworks (NASDAQ:PXLW) last issued its earnings results on Wednesday, February 12th. The semiconductor company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.02. Pixelworks had a negative net margin of 66.47% and a negative return on equity of 111.21%. Equities analysts predict that Pixelworks will post -0.27 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reiterated a “buy” rating and set a $1.50 target price on shares of Pixelworks in a research report on Thursday, February 13th.

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.