Alambic Investment Management L.P. Reduces Position in Pixelworks (PXLW)

Alambic Investment Management L.P. lowered its stake in shares of Pixelworks (NASDAQ:PXLW) by 43.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 148,931 shares of the semiconductor company’s stock after selling 114,802 shares during the quarter. Alambic Investment Management L.P. owned about 0.42% of Pixelworks worth $576,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. PenderFund Capital Management Ltd. bought a new position in Pixelworks during the first quarter worth $3,034,000. Trexquant Investment LP bought a new position in Pixelworks during the first quarter worth $113,000. Macquarie Group Ltd. increased its position in Pixelworks by 110.9% during the fourth quarter. Macquarie Group Ltd. now owns 48,500 shares of the semiconductor company’s stock worth $307,000 after acquiring an additional 25,500 shares during the period. Millennium Management LLC increased its position in Pixelworks by 14.3% during the fourth quarter. Millennium Management LLC now owns 325,095 shares of the semiconductor company’s stock worth $2,058,000 after acquiring an additional 40,571 shares during the period. Finally, Teachers Advisors LLC increased its position in Pixelworks by 24.4% during the fourth quarter. Teachers Advisors LLC now owns 62,058 shares of the semiconductor company’s stock worth $393,000 after acquiring an additional 12,187 shares during the period. 39.66% of the stock is currently owned by institutional investors and hedge funds.

PXLW has been the topic of a number of research reports. Zacks Investment Research raised shares of Pixelworks from a “sell” rating to a “hold” rating in a research report on Thursday, April 5th. TheStreet lowered shares of Pixelworks from a “c-” rating to a “d” rating in a research report on Thursday, May 3rd.

Shares of Pixelworks opened at $4.02 on Tuesday, Marketbeat.com reports. Pixelworks has a 1 year low of $3.50 and a 1 year high of $7.05. The firm has a market cap of $142.33 million, a P/E ratio of 40.20 and a beta of 0.83. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.80 and a current ratio of 1.96.

Pixelworks (NASDAQ:PXLW) last announced its earnings results on Wednesday, May 2nd. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.03) by ($0.02). The company had revenue of $15.29 million for the quarter, compared to the consensus estimate of $15.00 million. Pixelworks had a negative return on equity of 0.65% and a negative net margin of 10.37%. During the same period last year, the firm posted $0.12 EPS. analysts predict that Pixelworks will post -0.07 EPS for the current year.

In other Pixelworks news, Director Daniel Heneghan purchased 20,000 shares of the stock in a transaction on Friday, February 23rd. The shares were purchased at an average price of $4.33 per share, with a total value of $86,600.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 4.10% of the company’s stock.

Pixelworks Profile

Pixelworks, Inc designs, develops, and markets video processing semiconductors, intellectual property cores, software, and custom application specific integrated circuits (ICs) solutions for video applications. Its products enable customers to deliver the energy efficient video quality on their devices.

Institutional Ownership by Quarter for Pixelworks (NASDAQ:PXLW)

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