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

Pixelworks, Inc. (NASDAQ:PXLW) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $0.76 and traded as high as $0.77. Pixelworks shares last traded at $0.74, with a volume of 106,907 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC restated a “buy” rating and issued a $1.50 target price on shares of Pixelworks in a research report on Thursday, February 13th.

Pixelworks Price Performance

The firm’s 50 day simple moving average is $0.78 and its two-hundred day simple moving average is $0.76. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.02 and a quick ratio of 3.57. The firm has a market capitalization of $44.78 million, a P/E ratio of -1.50 and a beta of 1.81.

Pixelworks (NASDAQ:PXLW) last released its quarterly earnings data on Wednesday, February 12th. The semiconductor company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02. Pixelworks had a negative return on equity of 111.21% and a negative net margin of 66.47%. As a group, analysts predict that Pixelworks, Inc. will post -0.27 earnings per share for the current year.

Insider Buying and Selling at Pixelworks

In other Pixelworks news, CFO Haley F. Aman sold 48,854 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $0.85, for a total value of $41,525.90. Following the transaction, the chief financial officer now owns 352,607 shares in the company, valued at approximately $299,715.95. The trade was a 12.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.70% of the company’s stock.

Institutional Trading of Pixelworks

A number of institutional investors have recently modified their holdings of PXLW. Raymond James Financial Inc. bought a new position in Pixelworks during the 4th quarter valued at approximately $31,000. GSA Capital Partners LLP purchased a new position in shares of Pixelworks during the third quarter valued at approximately $91,000. Renaissance Technologies LLC raised its holdings in shares of Pixelworks by 44.4% during the fourth quarter. Renaissance Technologies LLC now owns 734,348 shares of the semiconductor company’s stock valued at $536,000 after acquiring an additional 225,948 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its stake in Pixelworks by 29.3% in the fourth quarter. Baird Financial Group Inc. now owns 4,262,075 shares of the semiconductor company’s stock worth $3,109,000 after acquiring an additional 965,889 shares during the period. 21.37% of the stock is currently owned by hedge funds and other institutional investors.

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.