Pixelworks, Inc. (PXLW) Stake Boosted by Renaissance Technologies LLC
Renaissance Technologies LLC raised its position in Pixelworks, Inc. (NASDAQ:PXLW) by 96.4% during the first quarter, Holdings Channel reports. The firm owned 668,400 shares of the semiconductor company’s stock after buying an additional 328,100 shares during the period. Renaissance Technologies LLC’s holdings in Pixelworks were worth $3,115,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Worth Venture Partners LLC acquired a new stake in shares of Pixelworks during the first quarter worth approximately $836,000. ClariVest Asset Management LLC acquired a new stake in shares of Pixelworks during the first quarter worth approximately $652,000. Spark Investment Management LLC acquired a new stake in shares of Pixelworks during the first quarter worth approximately $587,000. Acadian Asset Management LLC acquired a new stake in shares of Pixelworks during the first quarter worth approximately $577,000. Finally, Algert Global LLC raised its stake in shares of Pixelworks by 454.5% in the first quarter. Algert Global LLC now owns 110,378 shares of the semiconductor company’s stock worth $514,000 after buying an additional 90,472 shares during the period. Institutional investors and hedge funds own 28.98% of the company’s stock.
Pixelworks, Inc. (PXLW) traded down 0.45% during mid-day trading on Friday, reaching $4.41. The company’s stock had a trading volume of 330,503 shares. The firm has a market cap of $131.27 million, a PE ratio of 42.82 and a beta of 0.72. Pixelworks, Inc. has a 12-month low of $2.17 and a 12-month high of $6.22. The company has a 50-day moving average price of $4.76 and a 200-day moving average price of $4.58.
Pixelworks (NASDAQ:PXLW) last released its quarterly earnings data on Tuesday, August 8th. The semiconductor company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.03. The business had revenue of $20.72 million for the quarter, compared to analysts’ expectations of $20.50 million. Pixelworks had a return on equity of 21.64% and a net margin of 4.35%. The firm’s quarterly revenue was up 64.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.03) EPS. On average, equities research analysts expect that Pixelworks, Inc. will post $0.16 earnings per share for the current year.
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PXLW has been the topic of a number of recent analyst reports. Lake Street Capital lifted their price target on Pixelworks from $4.00 to $5.50 and gave the stock a “buy” rating in a report on Friday, April 28th. TheStreet upgraded Pixelworks from a “d” rating to a “c” rating in a report on Friday, April 28th. Finally, Zacks Investment Research lowered Pixelworks from a “hold” rating to a “sell” rating in a report on Thursday, July 6th.
Pixelworks, Inc designs, develops and markets video and pixel processing semiconductors, intellectual property cores, software and custom application specific integrated circuit (ASIC) solutions for digital video applications. The Company is engaged in the design and development of integrated circuits (ICs) for use in electronic display devices.
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