Pixelworks, Inc. (NASDAQ:PXLW – Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.76 and traded as high as $0.81. Pixelworks shares last traded at $0.78, with a volume of 245,921 shares trading hands.
Analysts Set New Price Targets
Separately, Needham & Company LLC reaffirmed a “buy” rating and issued a $1.50 price objective on shares of Pixelworks in a research report on Thursday, February 13th.
Read Our Latest Stock Analysis on Pixelworks
Pixelworks Stock Performance
Pixelworks (NASDAQ:PXLW – Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The semiconductor company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.02. Pixelworks had a negative return on equity of 111.21% and a negative net margin of 66.47%. As a group, equities research analysts predict that Pixelworks, Inc. will post -0.27 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CFO Haley F. Aman sold 48,854 shares of Pixelworks stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $0.85, for a total transaction of $41,525.90. Following the completion of the sale, the chief financial officer now directly owns 352,607 shares of the company’s stock, valued at approximately $299,715.95. This trade represents a 12.17 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.70% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Pixelworks
A number of hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP bought a new position in shares of Pixelworks in the 3rd quarter valued at $91,000. Raymond James Financial Inc. bought a new position in shares of Pixelworks in the 4th quarter valued at $31,000. Renaissance Technologies LLC increased its stake in shares of Pixelworks by 44.4% in the 4th quarter. Renaissance Technologies LLC now owns 734,348 shares of the semiconductor company’s stock valued at $536,000 after purchasing an additional 225,948 shares during the last quarter. Finally, Baird Financial Group Inc. increased its stake in shares of Pixelworks by 29.3% in the 4th quarter. Baird Financial Group Inc. now owns 4,262,075 shares of the semiconductor company’s stock valued at $3,109,000 after purchasing an additional 965,889 shares during the last quarter. 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.
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