Becker Drapkin Management Lowers Its Stake in Pixelworks, Inc (PXLW)
Matthew Drapkin’s and Steven R. Becker’s Becker Drapkin Management trimmed its stake in Pixelworks, Inc (NASDAQ:PXLW) to 2.19 million shares from 2.50 million shares held earlier. The stake amasses 10% of the company’s common stock.
Pixelworks, Inc. (NASDAQ:PXLW) is focused on designing, developing and marketing of video and pixel processing semiconductors and software for digital video applications.
Pixelworks, Inc. (NASDAQ:PXLW) reported its fourth quarter 2013 financial results earlier this month. The company recorded revenues up by 10% on the year to $15.0 million. The US-based company exited the quarter with earnings of $0.05 per share, compared to a net loss of $0.15 per share in the year ago period. The year 2013 was a pivotal year for the company and it believes it will continue to grow in 2014. The company expects revenues in the range of $12 million to $14 million for the first quarter of 2014, which represents an increase of 50% compared to the corresponding quarter in 2013.
Amongst the funds tracked by Insider Monkey, some other hedge funds disclosed holding shares of Pixelworks, Inc. (NASDAQ:PXLW) are Phil Frohlich’s Prescott Group Capital Management which held 100,000 shares as at September 2013.
Becker Drapkin Management focuses on small-cap value situations in the U.S. equity markets and the fund has been actively shuffling its equity portfolio since late last year. It has slimmed down its stake in Tuesday Morning Corporation (NASADQ:TUES), one of its largest investment, to a mere 4.8% from 6.7% held earlier. On the other hand, it upped its position in EMCORE Corporation (NASDAQ:EMKR), to 8.6% from 7.1% held earlier.