Bank of New York Mellon Corp boosted its stake in Pixelworks, Inc. (NASDAQ:PXLW) by 3.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,674 shares of the semiconductor company’s stock after buying an additional 855 shares during the period. Bank of New York Mellon Corp’s holdings in Pixelworks were worth $120,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new position in shares of Pixelworks during the first quarter valued at about $577,000. Algert Global LLC boosted its position 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 valued at $514,000 after buying an additional 90,472 shares during the period. CAPROCK Group Inc. purchased a new position in shares of Pixelworks during the first quarter valued at about $107,000. Finally, Renaissance Technologies LLC boosted its position in shares of Pixelworks by 6.5% in the fourth quarter. Renaissance Technologies LLC now owns 340,300 shares of the semiconductor company’s stock valued at $953,000 after buying an additional 20,900 shares during the period. 28.98% of the stock is owned by institutional investors and hedge funds.
Pixelworks, Inc. (NASDAQ PXLW) traded down 0.45% on Friday, hitting $4.41. 330,503 shares of the stock traded hands. The firm has a 50-day moving average price of $4.76 and a 200-day moving average price of $4.58. Pixelworks, Inc. has a 12 month low of $2.17 and a 12 month high of $6.22. The company has a market capitalization of $131.27 million, a PE ratio of 42.82 and a beta of 0.72.
Pixelworks (NASDAQ:PXLW) last released its quarterly earnings results on Tuesday, August 8th. The semiconductor company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.03. Pixelworks had a net margin of 4.35% and a return on equity of 21.64%. The business had revenue of $20.72 million for the quarter, compared to analysts’ expectations of $20.50 million. During the same period last year, the business earned ($0.03) EPS. The company’s revenue was up 64.7% compared to the same quarter last year. Analysts forecast that Pixelworks, Inc. will post $0.16 earnings per share for the current year.
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Several research analysts have issued reports on PXLW shares. Lake Street Capital lifted their target price on shares of Pixelworks from $4.00 to $5.50 and gave the stock a “buy” rating in a report on Friday, April 28th. TheStreet raised shares of Pixelworks from a “d” rating to a “c” rating in a report on Friday, April 28th. Finally, Zacks Investment Research cut shares of 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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