Pixelworks Inc. (PXLW) Sees Unusually-High Trading Volume
Shares of Pixelworks Inc. (NASDAQ:PXLW) saw an uptick in trading volume on Tuesday . 192,406 shares changed hands during mid-day trading, an increase of 105% from the previous session’s volume of 93,934 shares.The stock last traded at $2.17 and had previously closed at $2.07.
Several research firms recently weighed in on PXLW. Craig Hallum upped their price objective on shares of Pixelworks from $2.50 to $3.00 and gave the stock a “buy” rating in a research report on Friday, April 8th. Zacks Investment Research upgraded shares of Pixelworks from a “hold” rating to a “buy” rating and set a $2.50 price objective on the stock in a research report on Wednesday, April 13th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Pixelworks presently has a consensus rating of “Buy” and a consensus price target of $3.40.
The stock has a 50 day moving average of $1.91 and a 200 day moving average of $1.99. The stock’s market capitalization is $59.62 million.
Pixelworks (NASDAQ:PXLW) last released its quarterly earnings data on Thursday, April 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.01. The firm earned $11.20 million during the quarter, compared to the consensus estimate of $10.93 million. During the same period in the previous year, the firm earned ($0.10) EPS. The business’s revenue was down 22.2% compared to the same quarter last year. On average, equities research analysts expect that Pixelworks Inc. will post ($0.29) EPS for the current year.
In other Pixelworks news, Director C Scott Gibson sold 15,000 shares of Pixelworks stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $2.00, for a total value of $30,000.00. Following the sale, the director now owns 77,717 shares of the company’s stock, valued at approximately $155,434. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Todd Debonis acquired 25,000 shares of Pixelworks stock in a transaction on Friday, May 13th. The stock was purchased at an average cost of $1.64 per share, for a total transaction of $41,000.00. Following the purchase, the chief executive officer now owns 250,000 shares in the company, valued at $410,000. The disclosure for this purchase can be found here.
An institutional investor recently bought a new position in Pixelworks stock. Heartland Advisors Inc. acquired a new position in Pixelworks Inc. (NASDAQ:PXLW) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,000,000 shares of the company’s stock, valued at approximately $2,380,000. Heartland Advisors Inc. owned 3.61% of Pixelworks as of its most recent SEC filing.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.