Pixelworks (NASDAQ:PXLW) Shares Cross Above 200 Day Moving Average – What’s Next?

Shares of Pixelworks, Inc. (NASDAQ:PXLW) crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $6.14 and traded as high as $7.43. Pixelworks shares last traded at $7.29, with a volume of 17,846,308 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Pixelworks in a report on Tuesday, September 8th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock presently has a consensus rating of “Sell”.

Pixelworks Price Performance

The firm has a market cap of $35.21 million, a P/E ratio of -3.57 and a beta of 1.52. The company’s 50 day moving average is $6.21 and its two-hundred day moving average is $6.14.

Pixelworks (NASDAQ:PXLW) last issued its quarterly earnings results on Thursday, November 12th. The semiconductor company reported ($0.46) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.20). The company had revenue of $0.38 million during the quarter, compared to analysts’ expectations of $0.30 million. Research analysts predict that Pixelworks, Inc. will post -1.58 EPS for the current year.

Insiders Place Their Bets

In other Pixelworks news, CFO Haley F. Aman sold 8,157 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $6.74, for a total transaction of $54,978.18. Following the sale, the chief financial officer directly owned 94,134 shares of the company’s stock, valued at approximately $634,463.16. This represents a 7.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Todd Debonis sold 7,917 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $6.74, for a total value of $53,360.58. Following the sale, the chief executive officer directly owned 256,392 shares of the company’s stock, valued at $1,728,082.08. This represents a 3.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 4.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Pixelworks

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PXLW. Squarepoint Ops LLC increased its holdings in shares of Pixelworks by 49.0% in the second quarter. Squarepoint Ops LLC now owns 18,552 shares of the semiconductor company’s stock valued at $116,000 after purchasing an additional 6,101 shares in the last quarter. Emerald Mutual Fund Advisers Trust increased its holdings in Pixelworks by 26.9% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 37,237 shares of the semiconductor company’s stock valued at $201,000 after purchasing an additional 7,904 shares during the last quarter. Finally, BlackRock Inc. acquired a new stake in shares of Pixelworks in the 2nd quarter valued at approximately $465,000. Institutional investors and hedge funds own 21.37% of the company’s stock.

About Pixelworks

Pixelworks, Inc. is a semiconductor and software company that develops visual-processing technologies for consumer electronics. Its solutions are designed to improve image quality, color accuracy, contrast, motion performance and power efficiency in devices such as smartphones, tablets, monitors, televisions, projectors and other digital displays. The company’s product portfolio has included dedicated visual-processing chips, mobile display processors and software-based technologies. Pixelworks’ offerings include the Iris family of mobile processors and its TrueCut Motion platform, which is intended to enhance motion presentation and provide a consistent viewing experience across compatible displays and content.