Pixelworks (NASDAQ:PXLW) Given New $13.00 Price Target at Needham & Company LLC

Pixelworks (NASDAQ:PXLW) had its price objective dropped by equities researchers at Needham & Company LLC from $18.00 to $13.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 35.14% from the company’s current price.

PXLW has been the topic of a number of other reports. Wall Street Zen raised shares of Pixelworks to a “sell” rating in a report on Saturday, July 26th. Roth Mkm lowered their price target on Pixelworks from $24.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday, May 14th.

Pixelworks Stock Performance

NASDAQ PXLW opened at $9.62 on Wednesday. The firm has a market capitalization of $51.18 million, a P/E ratio of -1.72 and a beta of 1.52. The company has a current ratio of 3.46, a quick ratio of 2.90 and a debt-to-equity ratio of 0.03. The firm’s fifty day moving average price is $8.40 and its two-hundred day moving average price is $7.94. Pixelworks has a 1 year low of $4.67 and a 1 year high of $15.03.

Hedge Funds Weigh In On Pixelworks

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PXLW. Parallel Advisors LLC bought a new position in shares of Pixelworks in the first quarter valued at about $28,000. Raymond James Financial Inc. acquired a new position in Pixelworks in the 4th quarter valued at about $31,000. Renaissance Technologies LLC raised its holdings in Pixelworks by 44.4% in the 4th quarter. Renaissance Technologies LLC now owns 734,348 shares of the semiconductor company’s stock valued at $536,000 after acquiring an additional 225,948 shares during the period. Finally, Baird Financial Group Inc. raised its holdings in Pixelworks by 7.3% in the 1st quarter. Baird Financial Group Inc. now owns 4,571,669 shares of the semiconductor company’s stock valued at $2,866,000 after acquiring an additional 309,594 shares during the period. 21.37% of the stock is owned by institutional investors.

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.