Renaissance Technologies LLC grew its stake in shares of Pixelworks, Inc. (NASDAQ:PXLW) by 19.9% in the fourth quarter, Holdings Channel reports. The institutional investor owned 733,246 shares of the semiconductor company’s stock after purchasing an additional 121,500 shares during the period. Renaissance Technologies LLC’s holdings in Pixelworks were worth $4,641,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Algert Global LLC raised its position in shares of Pixelworks by 9.3% during the fourth quarter. Algert Global LLC now owns 377,824 shares of the semiconductor company’s stock valued at $2,392,000 after buying an additional 32,043 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Pixelworks by 8.9% during the fourth quarter. Geode Capital Management LLC now owns 352,648 shares of the semiconductor company’s stock valued at $2,231,000 after buying an additional 28,778 shares during the last quarter. State Street Corp acquired a new position in shares of Pixelworks during the second quarter valued at about $1,376,000. Cadence Capital Management LLC acquired a new position in shares of Pixelworks during the fourth quarter valued at about $1,615,000. Finally, Acadian Asset Management LLC raised its position in shares of Pixelworks by 76.3% during the fourth quarter. Acadian Asset Management LLC now owns 228,702 shares of the semiconductor company’s stock valued at $1,449,000 after buying an additional 99,014 shares during the last quarter. 38.20% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently commented on the stock. Zacks Investment Research raised shares of Pixelworks from a “sell” rating to a “hold” rating in a research report on Wednesday, April 11th. Roth Capital reaffirmed a “buy” rating and set a $8.00 price objective on shares of Pixelworks in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Pixelworks presently has a consensus rating of “Buy” and an average price target of $6.81.
In other Pixelworks news, Director Daniel Heneghan bought 20,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were acquired at an average price of $4.33 per share, with a total value of $86,600.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.50% of the company’s stock.
NASDAQ PXLW opened at $4.27 on Wednesday. The stock has a market capitalization of $156.21, a P/E ratio of 42.70 and a beta of 0.84. Pixelworks, Inc. has a twelve month low of $3.50 and a twelve month high of $7.05. The company has a current ratio of 1.99, a quick ratio of 1.83 and a debt-to-equity ratio of 0.19.
Pixelworks (NASDAQ:PXLW) last posted its earnings results on Thursday, February 15th. The semiconductor company reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01. The business had revenue of $18.40 million for the quarter, compared to analysts’ expectations of $18.08 million. Pixelworks had a negative net margin of 5.18% and a positive return on equity of 11.87%. The firm’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 earnings per share. research analysts anticipate that Pixelworks, Inc. will post -0.06 earnings per share for the current fiscal year.
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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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