Pixelworks (NASDAQ:PXLW) Upgraded by Zacks Investment Research to “Buy”

Zacks Investment Research upgraded shares of Pixelworks (NASDAQ:PXLW) from a hold rating to a buy rating in a report published on Thursday morning, Zacks.com reports. The firm currently has $4.00 price objective on the semiconductor company’s stock.

According to Zacks, “Pixelworks Inc. design, develop and market semiconductors and software that enable the visual display of broadband content through a wide variety of electronic devices. Broadband content includes video, computer graphics and visual Web information delivered at high speeds via cable and telecommunications lines to the homes and offices. The semiconductors integrate a microprocessor, memory and image processing circuits that function like a computer on a single chip, or system-on-a-chip. “

Other equities research analysts have also recently issued research reports about the company. ValuEngine cut Pixelworks from a buy rating to a hold rating in a report on Wednesday, July 17th. Dougherty & Co restated a buy rating and issued a $5.50 price target (down previously from $6.50) on shares of Pixelworks in a report on Friday, May 3rd. Finally, TheStreet cut Pixelworks from a c rating to a d+ rating in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus price target of $6.00.

Shares of PXLW traded down $0.02 on Thursday, reaching $3.53. The stock had a trading volume of 247,700 shares, compared to its average volume of 244,127. The stock has a market cap of $130.64 million, a price-to-earnings ratio of -50.43 and a beta of 1.96. 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 company’s 50-day moving average is $3.07. Pixelworks has a twelve month low of $2.60 and a twelve month high of $5.75.

In related news, insider Todd Debonis bought 10,000 shares of the stock in a transaction on Friday, May 24th. The shares were purchased at an average price of $2.97 per share, for a total transaction of $29,700.00. Following the acquisition, the insider now owns 868,139 shares in the company, valued at $2,578,372.83. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders purchased 18,000 shares of company stock worth $51,900. Insiders own 4.60% of the company’s stock.

A number of large investors have recently made changes to their positions in PXLW. Virtu Financial LLC acquired a new stake in Pixelworks during the 1st quarter valued at $58,000. Cutler Group LP grew its holdings in Pixelworks by 65.6% during the 1st quarter. Cutler Group LP now owns 18,953 shares of the semiconductor company’s stock valued at $74,000 after buying an additional 7,510 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Pixelworks during the 2nd quarter valued at $82,000. Bank of New York Mellon Corp grew its holdings in 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 valued at $108,000 after buying an additional 12,575 shares during the last quarter. Finally, Two Sigma Advisers LP grew its holdings in Pixelworks by 41.3% during the 4th quarter. Two Sigma Advisers LP now owns 55,100 shares of the semiconductor company’s stock valued at $160,000 after buying an additional 16,100 shares during the last quarter. Hedge funds and other institutional investors own 35.33% of the company’s stock.

Pixelworks Company Profile

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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