Short Interest in Pixelworks, Inc. (NASDAQ:PXLW) Declines By 44.7%

Pixelworks, Inc. (NASDAQ:PXLW) was the recipient of a significant decline in short interest in December. As of December 15th, there was short interest totalling 218,500 shares, a decline of 44.7% from the November 30th total of 395,300 shares. Based on an average daily volume of 294,500 shares, the days-to-cover ratio is currently 0.7 days.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reduced their price objective on Pixelworks from $2.00 to $1.50 and set a “buy” rating on the stock in a research report on Wednesday, November 13th.

Pixelworks Price Performance

Shares of PXLW stock opened at $0.70 on Friday. The firm’s 50-day moving average is $0.75 and its two-hundred day moving average is $0.81. Pixelworks has a 12 month low of $0.61 and a 12 month high of $3.08. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.02 and a quick ratio of 3.57. The company has a market capitalization of $41.36 million, a PE ratio of -1.49 and a beta of 1.65.

Insider Buying and Selling

In related news, CEO Todd Debonis sold 41,884 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $0.74, for a total transaction of $30,994.16. Following the completion of the sale, the chief executive officer now owns 1,699,300 shares of the company’s stock, valued at approximately $1,257,482. This represents a 2.41 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.70% of the stock is owned by company insiders.

Institutional Trading of Pixelworks

Several institutional investors have recently made changes to their positions in PXLW. Acadian Asset Management LLC increased its stake in Pixelworks by 78.3% during the second quarter. Acadian Asset Management LLC now owns 1,308,930 shares of the semiconductor company’s stock worth $1,286,000 after acquiring an additional 574,643 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of Pixelworks during the 3rd quarter worth $91,000. Renaissance Technologies LLC increased its position in shares of Pixelworks by 5.9% during the 2nd 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 last quarter. Finally, Marathon Capital Management purchased a new stake in Pixelworks in the 2nd quarter valued at about $25,000. Hedge funds and other institutional investors own 21.37% of the company’s stock.

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.