Pixelworks Inc. (PXLW) Trading Down 1.8%
Pixelworks Inc. (NASDAQ:PXLW)’s share price traded down 1.8% on Monday . The stock traded as low as $2.65 and last traded at $2.72, with a volume of 67,439 shares trading hands. The stock had previously closed at $2.77.
Several equities analysts have recently weighed in on the company. Zacks Investment Research upgraded Pixelworks from a “hold” rating to a “buy” rating and set a $3.00 price objective on the stock in a report on Tuesday, September 6th. Roth Capital restated a “buy” rating on shares of Pixelworks in a research note on Thursday, July 28th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $3.50.
The stock’s market cap is $77.00 million. The company’s 50 day moving average is $2.72 and its 200-day moving average is $2.20.
Pixelworks (NASDAQ:PXLW) last posted its earnings results on Thursday, July 28th. The company reported ($0.03) EPS for the quarter, beating the 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. Pixelworks had a negative return on equity of 45.01% and a negative net margin of 27.16%. The business’s quarterly revenue was down 16.6% on a year-over-year basis. During the same period last year, the company earned ($0.08) earnings per share. On average, equities analysts expect that Pixelworks Inc. will post ($0.24) earnings per share for the current fiscal year.
In related news, CFO Steven L. Moore purchased 20,050 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was bought at an average price of $2.47 per share, with a total value of $49,523.50. Following the completion of the purchase, the chief financial officer now owns 397,636 shares in the company, valued at approximately $982,160.92. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 5.70% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the stock. A.R.T. Advisors LLC bought a new stake in shares of Pixelworks during the first quarter valued at $109,000. BlackRock Fund Advisors boosted its stake in shares of Pixelworks by 25.5% in the second quarter. BlackRock Fund Advisors now owns 72,101 shares of the company’s stock valued at $133,000 after buying an additional 14,629 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Pixelworks by 7.6% in the first quarter. Geode Capital Management LLC now owns 128,838 shares of the company’s stock valued at $282,000 after buying an additional 9,135 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Pixelworks by 113.1% in the first quarter. Renaissance Technologies LLC now owns 190,700 shares of the company’s stock valued at $418,000 after buying an additional 101,200 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Pixelworks by 17.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 207,202 shares of the company’s stock valued at $454,000 after buying an additional 30,811 shares during the last quarter. 21.77% of the stock is owned by institutional investors.
Pixelworks Company Profile
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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