Pixelworks Inc. (PXLW) Sees Large Volume Increase
Pixelworks Inc. (NASDAQ:PXLW) shares saw unusually-high trading volume on Thursday . Approximately 363,563 shares traded hands during mid-day 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 research reports. Roth Capital restated a “buy” rating on shares of Pixelworks in a research note on Thursday, July 28th. 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 note on Wednesday, April 13th. Finally, Craig Hallum increased their price objective on shares of Pixelworks from $2.50 to $3.00 and gave the stock a “buy” rating in a research note on Friday, April 8th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $3.40.
The stock’s market cap is $69.57 million. The stock has a 50 day moving average price of $2.00 and a 200 day moving average price of $1.97.
Pixelworks (NASDAQ:PXLW) last issued its quarterly earnings data on Thursday, July 28th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.05. The company had revenue of $12.58 million for the quarter, compared to the consensus estimate of $12.02 million. During the same quarter last year, the business posted ($0.08) earnings per share. Pixelworks’s revenue was down 16.6% on a year-over-year basis. Analysts predict that Pixelworks Inc. will post ($0.24) EPS for the current fiscal year.
In related news, CEO Todd Debonis acquired 25,000 shares of the company’s stock in a transaction on Friday, May 13th. The shares were acquired 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 acquisition was disclosed in a legal filing with the SEC, which is accessible 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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