Pixelworks (NASDAQ:PXLW) Shares Cross Above 200 Day Moving Average – Here’s Why

Pixelworks, Inc. (NASDAQ:PXLW)’s stock price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $0.78 and traded as high as $0.86. Pixelworks shares last traded at $0.81, with a volume of 330,561 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC cut their target price on Pixelworks from $2.00 to $1.50 and set a “buy” rating on the stock in a research report on Wednesday, November 13th.

Pixelworks Trading Down 4.3 %

The firm’s 50 day simple moving average is $0.76 and its two-hundred day simple moving average is $0.78. The stock has a market capitalization of $47.93 million, a P/E ratio of -1.73 and a beta of 1.63. The company has a quick ratio of 3.57, a current ratio of 4.02 and a debt-to-equity ratio of 0.03.

Insider Buying and Selling at Pixelworks

In other Pixelworks news, CEO Todd Debonis sold 41,884 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $0.74, for a total transaction of $30,994.16. Following the transaction, the chief executive officer now owns 1,699,300 shares in the company, valued at approximately $1,257,482. This represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On Pixelworks

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Marathon Capital Management bought a new position in Pixelworks in the 2nd quarter valued at about $25,000. GSA Capital Partners LLP purchased a new stake in shares of Pixelworks in the third quarter worth approximately $91,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of Pixelworks by 5.9% in the second quarter. Renaissance Technologies LLC now owns 495,700 shares of the semiconductor company’s stock valued at $487,000 after purchasing an additional 27,800 shares in the last quarter. 21.37% of the stock is owned by institutional investors.

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.