Pixelworks (NASDAQ:PXLW) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Pixelworks (NASDAQ:PXLW) from a hold rating to a sell rating in a research report sent to investors on Friday.

A number of other research analysts have also recently issued reports on the company. Needham & Company LLC cut their price objective on Pixelworks from $2.50 to $2.00 and set a buy rating for the company in a report on Thursday, August 8th. Craig Hallum cut their price objective on Pixelworks from $4.00 to $3.00 and set a buy rating for the company in a report on Wednesday, May 15th. Finally, Roth Mkm cut their price objective on Pixelworks from $3.00 to $2.00 and set a buy rating for the company in a report on Wednesday, May 15th.

Pixelworks Stock Down 3.0 %

Shares of PXLW stock opened at $0.81 on Friday. The stock has a market cap of $47.08 million, a P/E ratio of -2.09 and a beta of 1.63. Pixelworks has a one year low of $0.80 and a one year high of $3.08. The stock has a fifty day moving average price of $0.97 and a 200 day moving average price of $1.71. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.78 and a quick ratio of 4.51.

Pixelworks (NASDAQ:PXLW) last issued its earnings results on Tuesday, May 14th. The semiconductor company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.01. The firm had revenue of $16.05 million during the quarter, compared to analysts’ expectations of $16.00 million. Pixelworks had a negative return on equity of 55.94% and a negative net margin of 33.22%. Analysts predict that Pixelworks will post -0.51 earnings per share for the current year.

Insider Activity

In other news, CEO Todd Debonis sold 24,842 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $1.15, for a total value of $28,568.30. Following the completion of the sale, the chief executive officer now directly owns 1,765,223 shares in the company, valued at $2,030,006.45. The sale was disclosed in a filing with the SEC, which is accessible through this link. 4.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Pixelworks

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Traynor Capital Management Inc. acquired a new stake in Pixelworks in the first quarter worth about $39,000. SG Americas Securities LLC acquired a new stake in Pixelworks in the first quarter worth about $50,000. Susquehanna Fundamental Investments LLC acquired a new stake in Pixelworks in the first quarter worth about $84,000. Essex Investment Management Co. LLC acquired a new stake in Pixelworks in the fourth quarter worth about $255,000. Finally, Renaissance Technologies LLC increased its position in Pixelworks by 5.9% in 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 period. 21.37% of the stock is currently owned by institutional investors and hedge funds.

About Pixelworks

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.