Pixelworks Inc. (PXLW) Trading 2.5% Higher
Pixelworks Inc. (NASDAQ:PXLW) traded up 2.5% on Thursday . The company traded as high as $2.95 and last traded at $2.88, with a volume of 111,630 shares. The stock had previously closed at $2.81.
A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Pixelworks from a “hold” rating to a “sell” rating in a report on Thursday, July 14th. 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 assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $3.40.
The company’s 50 day moving average price is $2.20 and its 200-day moving average price is $2.01. The stock’s market capitalization is $81.81 million.
Pixelworks (NASDAQ:PXLW) last released its earnings results on Thursday, July 28th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.05. The firm earned $12.58 million during the quarter, compared to analysts’ expectations of $12.02 million. The company’s revenue was down 16.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.08) earnings per share. Equities research analysts anticipate that Pixelworks Inc. will post ($0.24) earnings per share for the current fiscal year.
In other news, CFO Steven L. Moore bought 20,050 shares of Pixelworks stock in a transaction that occurred on Monday, August 8th. The stock was bought at an average cost of $2.47 per share, with a total value of $49,523.50. Following the acquisition, the chief financial officer now owns 397,636 shares of the company’s stock, valued at approximately $982,160.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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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