Pixelworks (NASDAQ:PXLW) Stock Breaks Above Two Hundred Day Moving Average – What’s Next?

Pixelworks, Inc. (NASDAQ:PXLW)’s share price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $6.25 and traded as high as $7.13. Pixelworks shares last traded at $7.11, with a volume of 8,949 shares traded.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Pixelworks in a research report on Tuesday, September 8th. Two analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $16.00.

Pixelworks Trading Up 1.4%

The stock has a market capitalization of $42.14 million, a PE ratio of -4.24 and a beta of 1.38. The business’s 50-day moving average is $6.73 and its two-hundred day moving average is $6.26.

Pixelworks (NASDAQ:PXLW) last released its quarterly earnings data on Tuesday, August 11th. The semiconductor company reported ($0.44) EPS for the quarter. The business had revenue of $0.06 million during the quarter. On average, analysts predict that Pixelworks, Inc. will post -1.58 EPS for the current year.

Insider Activity at Pixelworks

In other Pixelworks news, CEO Todd Debonis sold 7,917 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $6.74, for a total value of $53,360.58. Following the completion of the transaction, the chief executive officer owned 256,392 shares in the company, valued at $1,728,082.08. This represents a 3.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Haley F. Aman sold 8,157 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $6.74, for a total transaction of $54,978.18. Following the completion of the sale, the chief financial officer directly owned 94,134 shares of the company’s stock, valued at $634,463.16. This trade represents a 7.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Pixelworks

Institutional investors have recently made changes to their positions in the business. Squarepoint Ops LLC grew its position in shares of Pixelworks by 49.0% during the second quarter. Squarepoint Ops LLC now owns 18,552 shares of the semiconductor company’s stock worth $116,000 after buying an additional 6,101 shares in the last quarter. Emerald Mutual Fund Advisers Trust raised its holdings in Pixelworks by 26.9% in the first quarter. Emerald Mutual Fund Advisers Trust now owns 37,237 shares of the semiconductor company’s stock valued at $201,000 after acquiring an additional 7,904 shares in the last quarter. BlackRock Inc. bought a new position in Pixelworks during the 2nd quarter valued at $465,000. Finally, Potomac Capital Management Inc. acquired a new position in Pixelworks during the 4th quarter worth $1,272,000. 21.37% of the stock is owned by institutional investors and hedge funds.

Pixelworks Company Profile

Pixelworks, Inc (NASDAQ: PXLW) is a semiconductor and software company that develops visual processing technologies for consumer electronics. Its solutions are designed to improve image quality, motion clarity, color accuracy and power efficiency in mobile devices, displays and entertainment systems.

The company’s product portfolio has included Iris visual processors for smartphones and other mobile devices, as well as display-processing technologies for televisions, monitors and projectors.