Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Becker Drapkin Management Decreases Stake in Pixelworks

Matthew Drapkin and Steven R. Becker‘s hedge fund Becker Drapkin Management reported, in a newly amended filing with the SEC, selling some shares from its holding in Pixelworks, Inc. (NASDAQ:PXLW). The fund has reduced its position in the company to some 2.5 million shares, after revealing holding over 2.8 million shares in its latest 13F filing. The new stake amasses 11.4% of the company’s outstanding common stock. The position has a value of $10.4 million, at the current stock price of the company.


The fund explained the move by the fact that since the fund first purchased the shares of the company, due to the increase in the share price of Pixelworks. In this way, the size f the investment as a percentage of their equity portfolio expanded and became higher than the optimal position size. Despite the slight decrease, Becker Drapkin still holds a large stake in the company, so the fund will still have its representation on the company’s board. Becker Drapkin initiate stake in Pixelworks in December 2011, according to the SEC filings. Since then, the stock of the company appreciated by over 130%.

Semiconductor company Pixelworks specializes in design and development of various pixel processing semiconductors, as well as software for digital video. In the third quarter of the year, the company reported $15.3 million worth of revenue, slightly below $16.3 million in the same period of last year. The company also posted a net income of $1.5 million, which represents a surge from a loss of $0.4 million in the third quarter of 2012.

Aside from Matthew Drapkin and Steven Becker’s fund, another hedge fund that holds a relatively big position in Pixelworks is Renaissance Technologies, managed by Jim Simons. The fund reported holding below 1.0 million shares of the company in the latest round of 13F filings.

Disclosure: none

Recommended Reading:

Billionaire Carl Icahn Initiates Major Activist Position in Hologic

Rangeley Capital Ups Stake in Ocean Shore Holding; Suggests Sale of the Company

Richard Lashley, PL Capital Nominate Director for Alliance Bancorp Inc of Pennsylvania’s Board

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.