Needham & Company LLC Issues Pessimistic Forecast for Pixelworks (NASDAQ:PXLW) Stock Price

Pixelworks (NASDAQ:PXLW) had its target price lowered by equities research analysts at Needham & Company LLC from $2.00 to $1.50 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 75.13% from the company’s current price.

Separately, StockNews.com cut Pixelworks from a “hold” rating to a “sell” rating in a research note on Friday, August 9th.

Pixelworks Stock Performance

Shares of Pixelworks stock opened at $0.86 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.79 and a current ratio of 4.21. Pixelworks has a 1 year low of $0.61 and a 1 year high of $3.08. The firm’s 50-day simple moving average is $0.72 and its 200-day simple moving average is $0.94. The firm has a market cap of $50.15 million, a PE ratio of -1.82 and a beta of 1.61.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PXLW. Marathon Capital Management acquired a new stake in Pixelworks during the second quarter worth about $25,000. SG Americas Securities LLC bought a new position in shares of Pixelworks during the first quarter valued at approximately $50,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Pixelworks during the 1st quarter worth approximately $84,000. GSA Capital Partners LLP bought a new stake in shares of Pixelworks in the 3rd quarter worth approximately $91,000. Finally, Renaissance Technologies LLC boosted its position in Pixelworks by 5.9% during the 2nd 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 during the period. 21.37% of the stock is currently 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.