Needham & Company LLC Cuts Pixelworks (NASDAQ:PXLW) Price Target to $1.50

Pixelworks (NASDAQ:PXLW) had its price objective cut by Needham & Company LLC from $2.00 to $1.50 in a report issued on Wednesday morning,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Separately, StockNews.com downgraded shares of Pixelworks from a “hold” rating to a “sell” rating in a report on Friday, August 9th.

Pixelworks Price Performance

PXLW stock traded down $0.02 during mid-day trading on Wednesday, hitting $0.83. The company had a trading volume of 355,946 shares, compared to its average volume of 817,568. The company has a market capitalization of $49.16 million, a price-to-earnings ratio of -1.81 and a beta of 1.61. Pixelworks has a 12-month low of $0.61 and a 12-month high of $3.08. The company has a quick ratio of 3.79, a current ratio of 4.02 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $0.73 and a 200 day moving average price of $0.94.

Hedge Funds Weigh In On Pixelworks

Hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new stake in Pixelworks during the first quarter valued at approximately $50,000. Marathon Capital Management purchased a new stake in Pixelworks during the second quarter valued at approximately $25,000. Susquehanna Fundamental Investments LLC purchased a new stake in Pixelworks during the first quarter valued at approximately $84,000. GSA Capital Partners LLP purchased a new stake in Pixelworks during the third quarter valued at approximately $91,000. Finally, Renaissance Technologies LLC lifted its position in Pixelworks by 5.9% during the second quarter. Renaissance Technologies LLC now owns 495,700 shares of the semiconductor company’s stock valued at $487,000 after acquiring an additional 27,800 shares during the last quarter. 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.