Becker Drapkin Management Cuts Its Stake in Pixelworks, Inc. (PXLW)

As stated in a newly amended filing with the SEC, Becker Drapkin Management, led by Matthew Drapkin and Steven R. Becker, has sliced its position in the Pixelworks, Inc. (NASDAQ:PXLW) to 292,800 shares, which represent 1.3% of the outstanding stock. Previously the fund held around 2.2 million shares, as reported last month, which was equivalent to 10% of the stock.

In addition, following the reduction of the holding, Steven R. Becker and Bradley Shisler each irrevocably tendered his resignation as a director of the Company effective immediately. Overall, the fund has cut the stake from some 2.5 million shares, disclosed in its latest 13F.

Pixelworks

Pixelworks  is engaged in design, development and marketing of video and pixel processing semiconductors and software for digital video applications, with a market capital of over $ 150 million and 21.9 million outstanding shares. For the fourth quarter of the 2013, the company reported $15.3 million worth of revenue, compared to $15.3 million in the prior quarter and $13.6 million in the fourth quarter of 2012. The company also posted a net income of $1.3 million, compared to $2.1 million, or $0.10 per diluted share, in the third quarter of 2013.  

Other hedge funds that have a relatively big position in Pixelworks is Renaissance Technologies, administered by Jim Simons, with 730,500 shares in the equity portfolio. It is followed by Keane Capital Management, run by Peter Keane, with 334,100 shares; Millenium Management, run by Israel Englander, and Springbok Capital, led by Gavin Saitowitz And Cisco J. Del Valle, own less significant stakes, which contain around 65,200 shares and 35,000 shares, respectively.

Becker Drapkin Management is a hedge fund with an equity portfolio value of more than $191 million. It was formerly known as SRB Management. It was founded in 2004 and is based in Dallas, Texas with additional office in Stamford, Connecticut. For the past three months, the fund increased its stake of Cascade Microtech, Inc. (NASDAQ:CSCD) by 212,885 shares up to 1,179,921 shares, and acquired, in several transactions, 332,450 shares of Special Diversified Opportunities Inc (OTCMKTS:SDOI), expanding its position to 6.1 million shares. Another important change is the cut in Pacer International, Inc. (NASDAQ:PACR) by more than 1 million shares to 2.16 million shares of the company.

Disclosure: none.

Recommended reading:

Glazer Capital Adds Pacer International (PACR) to Its Equity Portfolio

Crispin Odey Increases Holding of The Ryland Group, Inc. (RYL) Shares

Luxor Capital Reports New Passive Stake in CONN’s Inc (CONN)

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top 6 Tax Scams and How to Protect Yourself

Top Businesses to Invest In

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!