Spark Investment Management LLC lowered its holdings in shares of Pixelworks, Inc. (NASDAQ:PXLW) by 7.8% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 193,880 shares of the semiconductor company’s stock after selling 16,320 shares during the quarter. Spark Investment Management LLC owned 0.52% of Pixelworks worth $760,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of PXLW. Algert Global LLC lifted its holdings in shares of Pixelworks by 27.4% in the 4th quarter. Algert Global LLC now owns 35,107 shares of the semiconductor company’s stock worth $102,000 after buying an additional 7,560 shares during the period. Two Sigma Securities LLC purchased a new stake in shares of Pixelworks during the 4th quarter worth $30,000. Bank of New York Mellon Corp lifted its stake in shares of Pixelworks by 50.7% during the 4th quarter. Bank of New York Mellon Corp now owns 37,394 shares of the semiconductor company’s stock worth $108,000 after purchasing an additional 12,575 shares during the last quarter. Virtu Financial LLC purchased a new stake in shares of Pixelworks during the 1st quarter worth $58,000. Finally, Two Sigma Advisers LP lifted its stake in shares of Pixelworks by 41.3% during the 4th quarter. Two Sigma Advisers LP now owns 55,100 shares of the semiconductor company’s stock worth $160,000 after purchasing an additional 16,100 shares during the last quarter. Institutional investors own 36.84% of the company’s stock.
PXLW has been the subject of a number of analyst reports. Zacks Investment Research cut Pixelworks from a “buy” rating to a “hold” rating in a research note on Friday, March 8th. Dougherty & Co restated a “buy” rating and set a $5.50 price objective (down from $6.50) on shares of Pixelworks in a research note on Friday, May 3rd. ValuEngine raised Pixelworks from a “hold” rating to a “buy” rating in a research report on Thursday, April 11th. Finally, TheStreet raised Pixelworks from a “d+” rating to a “c” rating in a research report on Friday, May 3rd. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $6.17.
NASDAQ:PXLW traded down $0.11 during mid-day trading on Friday, hitting $2.80. 141,001 shares of the company’s stock traded hands, compared to its average volume of 253,701. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.11 and a quick ratio of 1.93. The firm has a market capitalization of $105.12 million, a P/E ratio of -40.00 and a beta of 2.08. Pixelworks, Inc. has a twelve month low of $2.60 and a twelve month high of $5.75.
Pixelworks (NASDAQ:PXLW) last announced its quarterly earnings data on Thursday, May 2nd. The semiconductor company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The business had revenue of $16.65 million for the quarter, compared to analyst estimates of $16.25 million. Pixelworks had a negative return on equity of 9.01% and a negative net margin of 5.20%. On average, analysts expect that Pixelworks, Inc. will post -0.25 EPS for the current year.
In related news, insider Todd Debonis bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were purchased at an average cost of $2.97 per share, with a total value of $29,700.00. Following the completion of the acquisition, the insider now directly owns 868,139 shares in the company, valued at $2,578,372.83. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Daniel Heneghan bought 20,000 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were bought at an average cost of $3.25 per share, for a total transaction of $65,000.00. Following the completion of the acquisition, the director now owns 95,845 shares of the company’s stock, valued at $311,496.25. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 56,492 shares of company stock worth $183,898. 4.60% of the stock is owned by corporate insiders.
Pixelworks, Inc designs, develops, and markets video processing semiconductors, intellectual property cores, software, and custom application specific integrated circuits (ICs) solutions for video applications. Its products enable customers to deliver the energy efficient video quality on their devices.
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