Pixelworks, Inc. (NASDAQ:PXLW) CEO Sells $18,510.03 in Stock

Pixelworks, Inc. (NASDAQ:PXLW) CEO Todd Debonis sold 24,039 shares of the firm’s stock in a transaction on Tuesday, August 20th. The shares were sold at an average price of $0.77, for a total value of $18,510.03. Following the completion of the sale, the chief executive officer now directly owns 1,741,184 shares of the company’s stock, valued at approximately $1,340,711.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Pixelworks Price Performance

NASDAQ:PXLW traded up $0.01 during mid-day trading on Wednesday, hitting $0.78. 244,592 shares of the company’s stock traded hands, compared to its average volume of 1,015,008. The company has a debt-to-equity ratio of 0.03, a quick ratio of 4.51 and a current ratio of 4.21. The company has a market cap of $44.90 million, a PE ratio of -1.99 and a beta of 1.63. The firm’s 50 day simple moving average is $0.94 and its 200 day simple moving average is $1.66. Pixelworks, Inc. has a 1 year low of $0.75 and a 1 year high of $3.08.

Institutional Trading of Pixelworks

Several large investors have recently modified their holdings of PXLW. Acadian Asset Management LLC boosted its stake in shares of Pixelworks by 78.3% during the second quarter. Acadian Asset Management LLC now owns 1,308,930 shares of the semiconductor company’s stock valued at $1,286,000 after acquiring an additional 574,643 shares during the last quarter. ClariVest Asset Management LLC purchased a new stake in shares of Pixelworks during the first quarter worth about $530,000. Essex Investment Management Co. LLC purchased a new stake in shares of Pixelworks during the fourth quarter worth about $255,000. Susquehanna Fundamental Investments LLC purchased a new position in shares of Pixelworks during the first quarter valued at approximately $84,000. Finally, Renaissance Technologies LLC lifted its stake in shares of 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 buying an additional 27,800 shares during the period. 21.37% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PXLW has been the subject of several recent analyst reports. Roth Mkm reduced their price objective on shares of Pixelworks from $3.00 to $2.00 and set a “buy” rating for the company in a research note on Wednesday, May 15th. Needham & Company LLC decreased their price target on Pixelworks from $2.50 to $2.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. StockNews.com cut Pixelworks from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, Craig Hallum reduced 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.

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.