Granite Point Capital Management L.P. bought a new stake in shares of Pixelworks, Inc. (NASDAQ:PXLW) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 58,900 shares of the semiconductor company’s stock, valued at approximately $373,000. Granite Point Capital Management L.P. owned approximately 0.17% of Pixelworks as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also made changes to their positions in PXLW. Schwab Charles Investment Management Inc. bought a new position in shares of Pixelworks during the second quarter valued at approximately $230,000. Rhumbline Advisers bought a new stake in shares of Pixelworks during the second quarter valued at approximately $126,000. Bank of New York Mellon Corp increased its position in shares of Pixelworks by 230.3% during the second quarter. Bank of New York Mellon Corp now owns 84,791 shares of the semiconductor company’s stock valued at $389,000 after acquiring an additional 59,117 shares in the last quarter. Teachers Advisors LLC bought a new stake in shares of Pixelworks during the second quarter valued at approximately $229,000. Finally, TIAA CREF Investment Management LLC bought a new stake in shares of Pixelworks during the second quarter valued at approximately $345,000. 37.69% of the stock is owned by institutional investors and hedge funds.
In related news, CFO Steven L. Moore sold 74,999 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $5.88, for a total transaction of $440,994.12. Following the completion of the sale, the chief financial officer now owns 496,570 shares of the company’s stock, valued at $2,919,831.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.50% of the stock is owned by company insiders.
Shares of Pixelworks, Inc. (PXLW) opened at $5.29 on Wednesday. The firm has a market cap of $171.60, a P/E ratio of 27.83 and a beta of 0.40. The company has a current ratio of 1.98, a quick ratio of 1.72 and a debt-to-equity ratio of 0.20. Pixelworks, Inc. has a 1 year low of $3.80 and a 1 year high of $7.05.
PXLW has been the subject of several analyst reports. Roth Capital reissued a “buy” rating and set a $8.00 price target on shares of Pixelworks in a research report on Tuesday, January 2nd. Dougherty & Co raised their price target on shares of Pixelworks from $6.50 to $7.50 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Finally, Zacks Investment Research raised shares of Pixelworks from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $6.81.
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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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