Pixelworks, Inc. (PXLW) Stake Boosted by Renaissance Technologies LLC
Renaissance Technologies LLC increased its stake in Pixelworks, Inc. (NASDAQ:PXLW) by 96.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 668,400 shares of the semiconductor company’s stock after buying an additional 328,100 shares during the period. Renaissance Technologies LLC owned about 2.26% of Pixelworks worth $3,115,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. CAPROCK Group Inc. bought a new position in Pixelworks during the first quarter valued at $107,000. Bank of New York Mellon Corp raised its position in Pixelworks by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 25,674 shares of the semiconductor company’s stock valued at $120,000 after buying an additional 855 shares during the period. Nordea Investment Management AB bought a new position in Pixelworks during the first quarter valued at $189,000. Engineers Gate Manager LP bought a new position in Pixelworks during the first quarter valued at $193,000. Finally, Intellectus Partners LLC raised its position in Pixelworks by 2.2% in the first quarter. Intellectus Partners LLC now owns 46,204 shares of the semiconductor company’s stock valued at $215,000 after buying an additional 1,000 shares during the period. 28.98% of the stock is currently owned by hedge funds and other institutional investors.
Pixelworks, Inc. (PXLW) traded down 0.45% on Friday, hitting $4.41. The company had a trading volume of 330,503 shares. Pixelworks, Inc. has a one year low of $2.17 and a one year high of $6.22. The stock has a 50 day moving average of $4.76 and a 200-day moving average of $4.58. The stock has a market capitalization of $131.27 million, a PE ratio of 42.82 and a beta of 0.72.
Pixelworks (NASDAQ:PXLW) last issued its quarterly earnings results on Tuesday, August 8th. The semiconductor company reported $0.10 EPS for the quarter, topping the Zacks’ consensus estimate of $0.07 by $0.03. The business had revenue of $20.72 million for the quarter, compared to analyst estimates of $20.50 million. Pixelworks had a return on equity of 21.64% and a net margin of 4.35%. Pixelworks’s quarterly revenue was up 64.7% compared to the same quarter last year. During the same period last year, the company posted ($0.03) earnings per share. Equities analysts anticipate that Pixelworks, Inc. will post $0.16 EPS for the current year.
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PXLW has been the topic of several recent analyst reports. Lake Street Capital boosted their price target on Pixelworks from $4.00 to $5.50 and gave the stock a “buy” rating in a research report on Friday, April 28th. TheStreet raised Pixelworks from a “d” rating to a “c” rating in a research report on Friday, April 28th. Finally, Zacks Investment Research raised Pixelworks from a “sell” rating to a “hold” rating in a research report on Wednesday, July 26th.
Pixelworks, Inc designs, develops and markets video and pixel processing semiconductors, intellectual property cores, software and custom application specific integrated circuit (ASIC) solutions for digital video applications. The Company is engaged in the design and development of integrated circuits (ICs) for use in electronic display devices.
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