Pixelworks (NASDAQ:PXLW) Share Price Crosses Above 200-Day Moving Average of $1.74

Pixelworks, Inc. (NASDAQ:PXLW)’s stock price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $1.74 and traded as high as $1.83. Pixelworks shares last traded at $1.80, with a volume of 390,703 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PXLW. Needham & Company LLC raised their price objective on shares of Pixelworks from $3.00 to $3.50 and gave the stock a “buy” rating in a report on Friday, February 9th. StockNews.com raised Pixelworks from a “sell” rating to a “hold” rating in a report on Wednesday, March 20th.

Pixelworks Stock Performance

The stock’s 50-day moving average price is $2.56 and its 200-day moving average price is $1.74. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.26 and a quick ratio of 4.94.

Pixelworks (NASDAQ:PXLW) last posted its earnings results on Thursday, February 8th. The semiconductor company reported ($0.07) EPS for the quarter, meeting the consensus estimate of ($0.07). Pixelworks had a negative return on equity of 60.87% and a negative net margin of 43.86%. The company had revenue of $20.07 million during the quarter, compared to analyst estimates of $20.00 million. On average, research analysts expect that Pixelworks, Inc. will post -0.26 earnings per share for the current year.

Insider Transactions at Pixelworks

In other Pixelworks news, CEO Todd Debonis sold 56,412 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $2.56, for a total transaction of $144,414.72. Following the completion of the transaction, the chief executive officer now directly owns 1,565,065 shares of the company’s stock, valued at approximately $4,006,566.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Pixelworks news, CEO Todd Debonis sold 56,412 shares of Pixelworks stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $2.56, for a total transaction of $144,414.72. Following the sale, the chief executive officer now owns 1,565,065 shares of the company’s stock, valued at approximately $4,006,566.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Haley F. Aman sold 17,926 shares of the company’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $2.56, for a total transaction of $45,890.56. Following the completion of the sale, the chief financial officer now directly owns 320,536 shares of the company’s stock, valued at approximately $820,572.16. The disclosure for this sale can be found here. Insiders own 3.70% of the company’s stock.

Institutional Investors Weigh In On Pixelworks

A number of institutional investors have recently added to or reduced their stakes in the company. Traynor Capital Management Inc. acquired a new position in shares of Pixelworks during the 1st quarter valued at $39,000. Vanguard Group Inc. boosted its stake in Pixelworks by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 3,541,125 shares of the semiconductor company’s stock valued at $4,639,000 after buying an additional 21,906 shares in the last quarter. UBS Group AG grew its holdings in Pixelworks by 17.0% during the fourth quarter. UBS Group AG now owns 240,214 shares of the semiconductor company’s stock worth $315,000 after acquiring an additional 34,970 shares during the period. Essex Investment Management Co. LLC bought a new stake in Pixelworks in the fourth quarter worth about $255,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Pixelworks by 22.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 80,096 shares of the semiconductor company’s stock valued at $91,000 after acquiring an additional 14,610 shares during the last quarter. 21.37% of the stock is currently owned by institutional investors and hedge funds.

About Pixelworks

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.