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

Pixelworks, Inc. (NASDAQ:PXLW) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $0.77 and traded as high as $0.85. Pixelworks shares last traded at $0.84, with a volume of 235,018 shares changing hands.

Analysts Set New Price Targets

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

Pixelworks Stock Up 1.1 %

The company has a market cap of $49.63 million, a PE ratio of -1.79 and a beta of 1.65. The stock has a 50-day moving average of $0.78 and a 200-day moving average of $0.77. 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 business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $0.74, for a total value of $30,994.16. Following the completion of the transaction, the chief executive officer now owns 1,699,300 shares of the company’s stock, valued at $1,257,482. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.70% of the company’s stock.

Institutional Trading of Pixelworks

An institutional investor recently raised its position in Pixelworks stock. Renaissance Technologies LLC lifted its position in shares of Pixelworks, Inc. (NASDAQ:PXLW) by 5.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 495,700 shares of the semiconductor company’s stock after purchasing an additional 27,800 shares during the quarter. Renaissance Technologies LLC owned about 0.86% of Pixelworks worth $487,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 21.37% of the company’s stock.

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.