Pixelworks (NASDAQ:PXLW) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday. The brokerage currently has a $6.25 price objective on the semiconductor company’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 17.92% from the company’s previous close.

According to Zacks, “Pixelworks Inc. design, develop and market semiconductors and software that enable the visual display of broadband content through a wide variety of electronic devices. Broadband content includes video, computer graphics and visual Web information delivered at high speeds via cable and telecommunications lines to the homes and offices. The semiconductors integrate a microprocessor, memory and image processing circuits that function like a computer on a single chip, or system-on-a-chip. “

Separately, Dougherty & Co raised their target price on Pixelworks from $6.50 to $7.50 and gave the stock a “buy” rating in a research note on Wednesday, November 8th.

Shares of Pixelworks (NASDAQ:PXLW) traded down $0.09 on Thursday, hitting $5.30. The stock had a trading volume of 231,601 shares, compared to its average volume of 374,426. Pixelworks has a 52 week low of $2.44 and a 52 week high of $6.22. The company has a quick ratio of 1.72, a current ratio of 1.98 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $181.54, a P/E ratio of 29.94, a price-to-earnings-growth ratio of 2.99 and a beta of 0.60.

Pixelworks (NASDAQ:PXLW) last issued its quarterly earnings data on Tuesday, November 7th. The semiconductor company reported $0.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.05. Pixelworks had a positive return on equity of 20.65% and a negative net margin of 0.36%. The company had revenue of $18.76 million during the quarter, compared to the consensus estimate of $18.53 million. During the same period last year, the company earned ($0.02) earnings per share. The firm’s revenue was up 37.3% compared to the same quarter last year. research analysts predict that Pixelworks will post 0.09 EPS for the current fiscal year.

In related news, CFO Steven L. Moore sold 74,999 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $5.88, for a total transaction of $440,994.12. Following the completion of the sale, the chief financial officer now owns 496,570 shares of the company’s stock, valued at $2,919,831.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PXLW. Bank of New York Mellon Corp grew its stake in Pixelworks by 3.4% during the first quarter. Bank of New York Mellon Corp now owns 25,674 shares of the semiconductor company’s stock worth $120,000 after purchasing an additional 855 shares during the period. Renaissance Technologies LLC grew its stake in Pixelworks by 96.4% during the first quarter. Renaissance Technologies LLC now owns 668,400 shares of the semiconductor company’s stock worth $3,115,000 after purchasing an additional 328,100 shares during the period. Schwab Charles Investment Management Inc. acquired a new stake in Pixelworks during the second quarter worth approximately $230,000. Rhumbline Advisers acquired a new stake in Pixelworks during the second quarter worth approximately $126,000. Finally, Thompson Davis & CO. Inc. grew its stake in Pixelworks by 2.2% during the second quarter. Thompson Davis & CO. Inc. now owns 30,912 shares of the semiconductor company’s stock worth $142,000 after purchasing an additional 679 shares during the period. 37.64% of the stock is owned by institutional investors and hedge funds.

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About Pixelworks

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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