Pixelworks, Inc. (NASDAQ:PXLW) Sees Significant Drop in Short Interest

Pixelworks, Inc. (NASDAQ:PXLW) was the target of a significant decrease in short interest in December. As of December 31st, there was short interest totaling 222,158 shares, a decrease of 35.5% from the December 15th total of 344,688 shares. Based on an average daily trading volume, of 116,642 shares, the days-to-cover ratio is presently 1.9 days. Approximately 3.7% of the shares of the stock are short sold. Approximately 3.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 116,642 shares, the days-to-cover ratio is presently 1.9 days.

Pixelworks Trading Down 0.9%

Shares of NASDAQ:PXLW traded down $0.06 during midday trading on Friday, reaching $6.85. 110,356 shares of the company’s stock were exchanged, compared to its average volume of 94,329. The stock has a market cap of $43.09 million, a price-to-earnings ratio of -1.45 and a beta of 1.61. Pixelworks has a fifty-two week low of $4.67 and a fifty-two week high of $15.42. The firm’s 50 day simple moving average is $6.49 and its two-hundred day simple moving average is $8.39. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.59 and a quick ratio of 2.27.

Pixelworks (NASDAQ:PXLW) last posted its earnings results on Wednesday, November 12th. The semiconductor company reported ($0.69) EPS for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.17. Pixelworks had a negative net margin of 73.07% and a negative return on equity of 490.11%. The company had revenue of $8.77 million for the quarter, compared to analysts’ expectations of $9.00 million. As a group, sell-side analysts forecast that Pixelworks will post -0.27 EPS for the current fiscal year.

Institutional Trading of Pixelworks

Several institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Pixelworks by 2.5% during the third quarter. Vanguard Group Inc. now owns 277,394 shares of the semiconductor company’s stock worth $3,040,000 after purchasing an additional 6,796 shares in the last quarter. Magnus Financial Group LLC acquired a new stake in shares of Pixelworks in the fourth quarter valued at $80,000. Finally, Susquehanna International Group LLP purchased a new stake in shares of Pixelworks in the 3rd quarter valued at $155,000. Institutional investors and hedge funds own 21.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PXLW. Roth Capital decreased their price target on shares of Pixelworks from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, November 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of Pixelworks in a research note on Wednesday, October 8th. Finally, UBS Group restated a “buy” rating on shares of Pixelworks in a report on Wednesday, October 15th. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $14.25.

About Pixelworks

Pixelworks, Inc (NASDAQ:PXLW) is a provider of video processing semiconductors and software solutions designed to enhance display performance across a range of consumer and commercial applications. The company’s core offerings include high-performance video processing SoCs, pixel processing silicon, and accompanying firmware that deliver advanced image enhancement, color calibration, and high-dynamic-range (HDR) support. These solutions are tailored to improve picture quality, reduce latency, and optimize power consumption in digital displays.

Pixelworks’ product portfolio addresses diverse end markets such as digital projectors, flat-panel televisions, set-top boxes, mobile devices, automotive infotainment displays, and digital signage.