Pixelworks (NASDAQ:PXLW) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Pixelworks (NASDAQ:PXLW) in a research note released on Thursday morning,Benzinga reports. The firm currently has a $1.50 price target on the semiconductor company’s stock.

Pixelworks Trading Down 0.4 %

NASDAQ PXLW opened at $0.82 on Thursday. The company has a market cap of $48.33 million, a price-to-earnings ratio of -1.74 and a beta of 1.65. Pixelworks has a twelve month low of $0.61 and a twelve month high of $3.08. The company has a quick ratio of 3.57, a current ratio of 4.02 and a debt-to-equity ratio of 0.03. The business’s fifty day moving average is $0.79 and its 200 day moving average is $0.76.

Pixelworks (NASDAQ:PXLW) last announced its quarterly earnings results on Wednesday, February 12th. The semiconductor company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.02. Pixelworks had a negative return on equity of 93.16% and a negative net margin of 50.01%. As a group, sell-side analysts expect that Pixelworks will post -0.49 EPS for the current fiscal year.

Insider Buying and Selling at Pixelworks

In other news, CEO Todd Debonis sold 41,884 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $0.74, for a total value 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 4.70% of the company’s stock.

Institutional Trading of Pixelworks

Several institutional investors have recently added to or reduced their stakes in PXLW. Renaissance Technologies LLC raised its holdings in Pixelworks by 44.4% during the 4th quarter. Renaissance Technologies LLC now owns 734,348 shares of the semiconductor company’s stock worth $536,000 after purchasing an additional 225,948 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in shares of Pixelworks during the third quarter worth $91,000. Finally, Raymond James Financial Inc. bought a new position in Pixelworks during the fourth quarter worth $31,000. 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.