Pixelworks Inc. (PXLW) Sees Large Volume Increase
Pixelworks Inc. (NASDAQ:PXLW) shares saw unusually-strong trading volume on Friday . Approximately 330,809 shares traded hands during mid-day trading, an increase of 32% from the previous session’s volume of 250,233 shares.The stock last traded at $2.98 and had previously closed at $2.89.
Several analysts have recently commented on PXLW shares. Zacks Investment Research cut Pixelworks from a “buy” rating to a “hold” rating in a report on Wednesday, June 8th. Roth Capital reissued 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 given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $3.40.
The stock has a 50-day moving average of $2.27 and a 200 day moving average of $2.02. The stock’s market capitalization is $87.19 million.
Pixelworks (NASDAQ:PXLW) last announced its quarterly earnings data 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 firm earned $12.58 million during the quarter, compared to the consensus estimate of $12.02 million. The firm’s quarterly revenue was down 16.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) earnings per share. Equities analysts predict that Pixelworks Inc. will post ($0.24) EPS for the current year.
In other news, CFO Steven L. Moore acquired 20,050 shares of the stock in a transaction that occurred on Monday, August 8th. The stock was purchased at an average cost of $2.47 per share, with a total value of $49,523.50. Following the completion of the acquisition, the chief financial officer now directly owns 397,636 shares in the company, valued at $982,160.92. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
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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