Pixelworks Inc. (PXLW) Shares Up 6.4%
Pixelworks Inc. (NASDAQ:PXLW) shot up 6.4% during mid-day trading on Wednesday . The company traded as high as $2.19 and last traded at $2.16, with a volume of 168,120 shares traded. The stock had previously closed at $2.03.
A number of brokerages have recently issued reports on PXLW. Craig Hallum boosted their price objective on Pixelworks from $2.50 to $3.00 and gave the stock a “buy” rating in a report on Friday, April 8th. Zacks Investment Research cut Pixelworks from a “hold” rating to a “sell” rating in a report on Thursday, July 14th. Finally, Roth Capital restated a “buy” rating on shares of Pixelworks in a report on Thursday, July 28th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Pixelworks presently has an average rating of “Buy” and a consensus target price of $3.40.
The company’s market capitalization is $60.75 million. The stock’s 50 day moving average is $1.96 and its 200 day moving average is $1.97.
Pixelworks (NASDAQ:PXLW) last announced its quarterly earnings results on Thursday, July 28th. The company reported ($0.03) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.05. The business earned $12.58 million during the quarter, compared to the consensus estimate of $12.02 million. During the same period in the previous year, the business posted ($0.08) EPS. Pixelworks’s revenue was down 16.6% compared to the same quarter last year. On average, equities analysts predict that Pixelworks Inc. will post ($0.24) EPS for the current year.
In other Pixelworks news, CEO Todd Debonis purchased 25,000 shares of the company’s stock in a transaction that occurred on Friday, May 13th. The shares were acquired at an average price of $1.64 per share, with a total value of $41,000.00. Following the transaction, the chief executive officer now owns 250,000 shares in the company, valued at $410,000. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
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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