Pixelworks Inc. (PXLW) Sees Large Volume Increase
Pixelworks Inc. (NASDAQ:PXLW) saw unusually-high trading volume on Thursday . Approximately 162,359 shares traded hands during trading, an increase of 29% from the previous session’s volume of 126,192 shares.The stock last traded at $2.11 and had previously closed at $2.13.
A number of brokerages have recently commented on PXLW. Zacks Investment Research raised Pixelworks from a “hold” rating to a “buy” rating and set a $2.50 price objective on the stock in a report on Wednesday, April 13th. Craig Hallum increased their price objective on Pixelworks from $2.50 to $3.00 and gave the company a “buy” rating in a report on Friday, April 8th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $3.40.
The firm’s market cap is $57.94 million. The stock’s 50 day moving average price is $1.96 and its 200-day moving average price is $1.98.
Pixelworks (NASDAQ:PXLW) last posted its earnings results on Thursday, April 28th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.01. The business earned $11.20 million during the quarter, compared to analyst estimates of $10.93 million. During the same period in the previous year, the firm posted ($0.10) earnings per share. The firm’s revenue was down 22.2% on a year-over-year basis. On average, equities research analysts forecast that Pixelworks Inc. will post ($0.29) earnings per share for the current fiscal year.
In other Pixelworks news, Director C Scott Gibson sold 15,000 shares of the business’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $2.00, for a total value of $30,000.00. Following the completion of the transaction, the director now directly owns 77,717 shares of the company’s stock, valued at $155,434. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Todd Debonis bought 25,000 shares of the firm’s stock in a transaction on Friday, May 13th. The stock was acquired at an average cost of $1.64 per share, with a total value of $41,000.00. Following the completion of the purchase, the chief executive officer now owns 250,000 shares of the company’s stock, valued at approximately $410,000. The disclosure for this purchase can be found here.
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.
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