Needham & Company LLC Reiterates Buy Rating for Pixelworks (NASDAQ:PXLW)

Pixelworks (NASDAQ:PXLW)‘s stock had its “buy” rating restated by investment analysts at Needham & Company LLC in a note issued to investors on Wednesday,Benzinga reports. They currently have a $1.50 price target on the semiconductor company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 154.71% from the stock’s previous close.

Separately, StockNews.com started coverage on Pixelworks in a research note on Thursday, April 17th. They issued a “sell” rating on the stock.

Pixelworks Stock Performance

NASDAQ:PXLW opened at $0.59 on Wednesday. Pixelworks has a twelve month low of $0.48 and a twelve month high of $1.89. The stock has a market cap of $35.91 million, a P/E ratio of -1.20 and a beta of 1.39. The firm’s fifty day simple moving average is $0.59 and its 200 day simple moving average is $0.71. The company has a quick ratio of 3.57, a current ratio of 4.02 and a debt-to-equity ratio of 0.03.

Pixelworks (NASDAQ:PXLW) last released its earnings results on Tuesday, May 13th. The semiconductor company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.11) by ($0.01). Pixelworks had a negative net margin of 66.47% and a negative return on equity of 111.21%. As a group, research analysts predict that Pixelworks will post -0.27 EPS for the current year.

Insider Buying and Selling at Pixelworks

In other news, CFO Haley F. Aman sold 48,854 shares of the company’s 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 sale, the chief financial officer now directly owns 352,607 shares of the company’s stock, valued at $299,715.95. This represents a 12.17% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.70% of the company’s stock.

Institutional Trading of Pixelworks

Several hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in Pixelworks during the 4th quarter valued at $31,000. Parallel Advisors LLC bought a new position in Pixelworks in the first quarter worth about $28,000. Renaissance Technologies LLC boosted its stake in Pixelworks by 44.4% in the fourth quarter. Renaissance Technologies LLC now owns 734,348 shares of the semiconductor company’s stock valued at $536,000 after acquiring an additional 225,948 shares in the last quarter. Finally, Baird Financial Group Inc. grew its stake in Pixelworks by 29.3% during the 4th quarter. Baird Financial Group Inc. now owns 4,262,075 shares of the semiconductor company’s stock worth $3,109,000 after buying an additional 965,889 shares during the last quarter. 21.37% of the stock is currently owned by hedge funds and other 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.