Short Interest in Pixelworks, Inc. (NASDAQ:PXLW) Expands By 83.1%

Pixelworks, Inc. (NASDAQ:PXLW) was the target of a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 471,800 shares, a growth of 83.1% from the August 31st total of 257,700 shares. Based on an average daily volume of 279,100 shares, the days-to-cover ratio is presently 1.7 days.

Pixelworks Price Performance

Pixelworks stock traded up $0.01 during midday trading on Thursday, reaching $0.68. The company’s stock had a trading volume of 552,044 shares, compared to its average volume of 920,336. The stock has a market cap of $39.51 million, a PE ratio of -1.75 and a beta of 1.62. The company has a current ratio of 4.21, a quick ratio of 3.79 and a debt-to-equity ratio of 0.03. Pixelworks has a 52 week low of $0.61 and a 52 week high of $3.08. The business has a 50-day moving average price of $0.79 and a 200-day moving average price of $1.32.

Pixelworks (NASDAQ:PXLW) last announced its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.17) by $0.03. The company had revenue of $8.54 million for the quarter, compared to analyst estimates of $8.50 million. Pixelworks had a negative net margin of 42.77% and a negative return on equity of 72.81%. On average, sell-side analysts predict that Pixelworks will post -0.51 EPS for the current year.

Analyst Ratings Changes

Several research firms have commented on PXLW. StockNews.com lowered shares of Pixelworks from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Needham & Company LLC decreased their price objective on shares of Pixelworks from $2.50 to $2.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Acadian Asset Management LLC grew its position in Pixelworks by 78.3% during the 2nd quarter. Acadian Asset Management LLC now owns 1,308,930 shares of the semiconductor company’s stock worth $1,286,000 after acquiring an additional 574,643 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Pixelworks by 5.9% during the second quarter. Renaissance Technologies LLC now owns 495,700 shares of the semiconductor company’s stock worth $487,000 after purchasing an additional 27,800 shares during the last quarter. ClariVest Asset Management LLC acquired a new position in shares of Pixelworks in the first quarter valued at approximately $530,000. Susquehanna Fundamental Investments LLC bought a new position in Pixelworks in the 1st quarter valued at approximately $84,000. Finally, Marathon Capital Management acquired a new stake in Pixelworks during the 2nd quarter worth approximately $25,000. 21.37% of the stock is currently owned by 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.