Pixelworks, Inc. (NASDAQ:PXLW) Short Interest Up 111.8% in June
Pixelworks, Inc. (NASDAQ:PXLW) was the recipient of a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 1,909,347 shares, an increase of 111.8% from the June 15th total of 901,372 shares. Based on an average daily volume of 524,327 shares, the days-to-cover ratio is presently 3.6 days. Approximately 7.9% of the shares of the company are sold short.
A number of research firms have commented on PXLW. Zacks Investment Research cut shares of Pixelworks from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th. TheStreet raised shares of Pixelworks from a “d” rating to a “c” rating in a research report on Friday, April 28th. Finally, Lake Street Capital lifted their target price on Pixelworks from $4.00 to $5.50 and gave the stock a “buy” rating in a report on Friday, April 28th.
Shares of Pixelworks (PXLW) opened at 4.98 on Friday. Pixelworks has a 12-month low of $1.77 and a 12-month high of $6.22. The stock’s 50 day moving average price is $5.04 and its 200-day moving average price is $4.18. The firm has a market cap of $147.20 million, a P/E ratio of 415.00 and a beta of 0.73.
Pixelworks (NASDAQ:PXLW) last posted its quarterly earnings results on Thursday, April 27th. The semiconductor company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.02. The company had revenue of $22.70 million during the quarter, compared to the consensus estimate of $22.49 million. Pixelworks had a return on equity of 3.30% and a net margin of 0.55%. The firm’s quarterly revenue was up 102.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.14) EPS. On average, analysts predict that Pixelworks will post $0.20 earnings per share for the current fiscal year.
In other Pixelworks news, Director David J. Tupman sold 6,000 shares of Pixelworks stock in a transaction on Wednesday, May 10th. The shares were sold at an average price of $5.49, for a total transaction of $32,940.00. Following the completion of the transaction, the director now directly owns 44,139 shares of the company’s stock, valued at $242,323.11. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 4.50% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC increased its position in Pixelworks by 96.4% in the first quarter. Renaissance Technologies LLC now owns 668,400 shares of the semiconductor company’s stock valued at $3,115,000 after buying an additional 328,100 shares during the last quarter. Orca Investment Management LLC increased its position in shares of Pixelworks by 43.8% in the second quarter. Orca Investment Management LLC now owns 384,277 shares of the semiconductor company’s stock valued at $1,764,000 after buying an additional 117,132 shares in the last quarter. Worth Venture Partners LLC bought a new position in shares of Pixelworks during the first quarter valued at approximately $836,000. ClariVest Asset Management LLC bought a new position in shares of Pixelworks during the first quarter valued at approximately $652,000. Finally, Spark Investment Management LLC bought a new position in shares of Pixelworks during the first quarter valued at approximately $587,000. Institutional investors own 27.59% of the company’s stock.
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Pixelworks, Inc designs, develops and markets video and pixel processing semiconductors, intellectual property cores, software and custom application specific integrated circuit (ASIC) solutions for digital video applications. The Company is engaged in the design and development of integrated circuits (ICs) for use in electronic display devices.
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