Pixelworks Inc. (PXLW) Sees Strong Trading Volume
Shares of Pixelworks Inc. (NASDAQ:PXLW) saw unusually-high trading volume on Thursday . Approximately 363,563 shares were traded during trading, an increase of 137% from the previous session’s volume of 153,577 shares.The stock last traded at $2.46 and had previously closed at $2.16.
PXLW has been the topic of several analyst reports. Craig Hallum boosted their target price on Pixelworks from $2.50 to $3.00 and gave the company a “buy” rating in a research report on Friday, April 8th. Zacks Investment Research raised Pixelworks from a “hold” rating to a “buy” rating and set a $2.50 target price on the stock in a research report on Wednesday, April 13th. Finally, Roth Capital reissued a “buy” rating on shares of Pixelworks in a research report on Thursday, July 28th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $3.40.
The firm’s market cap is $69.85 million. The company’s 50-day moving average is $1.98 and its 200 day moving average is $1.97.
Pixelworks (NASDAQ:PXLW) last issued its quarterly earnings data on Thursday, July 28th. The company reported ($0.03) EPS for the quarter, beating the consensus estimate of ($0.08) by $0.05. During the same period in the previous year, the business posted ($0.08) earnings per share. The business earned $12.58 million during the quarter, compared to analyst estimates of $12.02 million. The firm’s revenue for the quarter was down 16.6% on a year-over-year basis. On average, analysts expect that Pixelworks Inc. will post ($0.24) earnings per share for the current fiscal year.
In other Pixelworks news, CEO Todd Debonis acquired 25,000 shares of the company’s stock in a transaction on Friday, May 13th. The shares were bought at an average cost of $1.64 per share, with a total value of $41,000.00. Following the completion of the acquisition, the chief executive officer now owns 250,000 shares in the company, valued at $410,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
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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