Pixelworks, Inc. (NASDAQ:PXLW) Sees Large Growth in Short Interest

Pixelworks, Inc. (NASDAQ:PXLW) was the target of a large growth in short interest in the month of November. As of November 29th, there was short interest totalling 612,400 shares, a growth of 22.8% from the November 14th total of 498,600 shares. Approximately 1.9% of the shares of the company are sold short. Based on an average daily volume of 261,500 shares, the days-to-cover ratio is currently 2.3 days.

Shares of NASDAQ:PXLW traded down $0.01 during trading on Friday, reaching $2.99. 173,696 shares of the company traded hands, compared to its average volume of 241,492. The company’s 50 day moving average is $3.30 and its two-hundred day moving average is $3.29. The firm has a market capitalization of $114.96 million, a PE ratio of -42.71 and a beta of 2.05. The company has a quick ratio of 2.86, a current ratio of 3.14 and a debt-to-equity ratio of 0.07. Pixelworks has a 52 week low of $2.60 and a 52 week high of $5.01.

Pixelworks (NASDAQ:PXLW) last released its earnings results on Thursday, October 31st. The semiconductor company reported ($0.01) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.01). The firm had revenue of $18.06 million during the quarter, compared to the consensus estimate of $18.00 million. Pixelworks had a negative return on equity of 15.25% and a negative net margin of 8.77%. As a group, research analysts anticipate that Pixelworks will post -0.25 EPS for the current year.

Several analysts recently issued reports on PXLW shares. Zacks Investment Research downgraded Pixelworks from a “buy” rating to a “hold” rating in a research note on Friday, October 25th. ValuEngine downgraded Pixelworks from a “buy” rating to a “hold” rating in a research report on Monday, November 4th. Finally, Lake Street Capital downgraded Pixelworks from a “buy” rating to a “hold” rating and set a $3.50 target price for the company. in a research report on Friday, November 1st. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $4.58.

Large investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP bought a new stake in shares of Pixelworks during the 2nd quarter valued at $82,000. Russell Investments Group Ltd. lifted its position in shares of Pixelworks by 975.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 43,000 shares of the semiconductor company’s stock valued at $159,000 after acquiring an additional 39,000 shares during the period. Menta Capital LLC lifted its position in shares of Pixelworks by 61.2% during the 2nd quarter. Menta Capital LLC now owns 56,471 shares of the semiconductor company’s stock valued at $167,000 after acquiring an additional 21,435 shares during the period. Acadian Asset Management LLC lifted its position in shares of Pixelworks by 808.2% during the 2nd quarter. Acadian Asset Management LLC now owns 59,507 shares of the semiconductor company’s stock valued at $176,000 after acquiring an additional 52,955 shares during the period. Finally, Algert Global LLC lifted its position in shares of Pixelworks by 75.2% during the 2nd quarter. Algert Global LLC now owns 62,653 shares of the semiconductor company’s stock valued at $185,000 after acquiring an additional 26,901 shares during the period. Hedge funds and other institutional investors own 25.13% of the company’s stock.

About Pixelworks

Pixelworks, Inc designs, develops, and markets video processing semiconductors, intellectual property cores, software, and custom application specific integrated circuits (ICs) solutions for video applications. Its products enable customers to deliver the energy efficient video quality on their devices.

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