Pixelworks, Inc. (NASDAQ:PXLW) Sees Significant Decrease in Short Interest

Pixelworks, Inc. (NASDAQ:PXLW) was the recipient of a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 98,666 shares, a drop of 37.2% from the June 15th total of 157,090 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average trading volume of 58,054 shares, the days-to-cover ratio is presently 1.7 days.

Insider Buying and Selling

In related news, CEO Todd Debonis sold 12,274 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $5.98, for a total transaction of $73,398.52. Following the transaction, the chief executive officer owned 214,309 shares in the company, valued at $1,281,567.82. This represents a 5.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Haley F. Aman sold 12,371 shares of the stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $5.98, for a total transaction of $73,978.58. Following the transaction, the chief financial officer owned 68,291 shares in the company, valued at approximately $408,380.18. This trade represents a 15.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 4.70% of the company’s stock.

Institutional Trading of Pixelworks

Large investors have recently added to or reduced their stakes in the business. Bleichroeder LP bought a new stake in Pixelworks during the fourth quarter valued at about $1,278,000. Potomac Capital Management Inc. bought a new position in shares of Pixelworks in the fourth quarter worth about $1,272,000. Nano Cap New Millennium Growth Fund L P bought a new position in shares of Pixelworks in the fourth quarter worth about $280,000. F m Investments LLC purchased a new position in shares of Pixelworks during the 4th quarter valued at about $187,000. Finally, Susquehanna International Group LLP purchased a new position in shares of Pixelworks during the 3rd quarter valued at about $155,000. 21.37% of the stock is currently owned by institutional investors.

Pixelworks Stock Performance

Shares of NASDAQ:PXLW opened at $5.60 on Friday. The stock’s 50-day simple moving average is $6.33 and its two-hundred day simple moving average is $6.12. The stock has a market capitalization of $35.62 million, a price-to-earnings ratio of -2.39 and a beta of 1.73. Pixelworks has a 52-week low of $4.84 and a 52-week high of $15.42.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings upgraded shares of Pixelworks from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, June 11th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.00.

Pixelworks Company Profile

Pixelworks, Inc (NASDAQ:PXLW) is a provider of video processing semiconductors and software solutions designed to enhance display performance across a range of consumer and commercial applications. The company’s core offerings include high-performance video processing SoCs, pixel processing silicon, and accompanying firmware that deliver advanced image enhancement, color calibration, and high-dynamic-range (HDR) support. These solutions are tailored to improve picture quality, reduce latency, and optimize power consumption in digital displays.

Pixelworks’ product portfolio addresses diverse end markets such as digital projectors, flat-panel televisions, set-top boxes, mobile devices, automotive infotainment displays, and digital signage.