Pixelworks (NASDAQ:PXLW) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

Pixelworks, Inc. (NASDAQ:PXLW) shares crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $0.76 and traded as high as $0.77. Pixelworks shares last traded at $0.74, with a volume of 106,907 shares trading hands.

Analyst Ratings Changes

Separately, Needham & Company LLC reiterated a “buy” rating and set a $1.50 price target on shares of Pixelworks in a research report on Thursday, February 13th.

Pixelworks Stock Performance

The company has a 50 day moving average of $0.78 and a two-hundred day moving average of $0.76. 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 $44.78 million, a PE ratio of -1.50 and a beta of 1.81.

Pixelworks (NASDAQ:PXLW) last announced its 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 net margin of 66.47% and a negative return on equity of 111.21%. As a group, equities research analysts predict that Pixelworks, Inc. will post -0.27 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Haley F. Aman sold 48,854 shares of Pixelworks stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $0.85, for a total transaction of $41,525.90. Following the completion of the transaction, the chief financial officer now directly owns 352,607 shares in the company, valued at approximately $299,715.95. This trade represents a 12.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP bought a new stake in Pixelworks in the third quarter worth $91,000. Raymond James Financial Inc. purchased a new position in shares of Pixelworks in the 4th quarter worth about $31,000. Renaissance Technologies LLC boosted its stake in Pixelworks by 44.4% in 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 in the last quarter. Finally, Baird Financial Group Inc. grew its position 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 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.