Zacks: Analysts Set $3.13 Price Target for Pixelworks Inc. (PXLW)
Shares of Pixelworks Inc. (NASDAQ:PXLW) have been given an average broker rating score of 1.75 (Buy) from the four analysts that provide coverage for the company, Zacks Investment Research reports. One analyst has rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating on the company. Pixelworks’ rating score has improved by 12.5% from three months ago as a result of various analysts’ ratings changes.
Brokerages have set a one year consensus price objective of $3.13 for the company and are forecasting that the company will post ($0.06) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Pixelworks an industry rank of 25 out of 265 based on the ratings given to its competitors.
A number of analysts recently commented on the stock. Zacks Investment Research cut shares of Pixelworks from a “hold” rating to a “sell” rating in a research report on Thursday, July 14th. Roth Capital reiterated a “buy” rating on shares of Pixelworks in a report on Thursday, July 28th.
Pixelworks (NASDAQ:PXLW) opened at 2.76 on Thursday. Pixelworks has a 52-week low of $1.22 and a 52-week high of $3.83. The firm’s market cap is $78.13 million. The company’s 50 day moving average price is $2.81 and its 200 day moving average price is $2.26.
Pixelworks (NASDAQ:PXLW) last released its quarterly earnings data on Thursday, July 28th. The company reported ($0.03) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.05. Pixelworks had a negative net margin of 27.16% and a negative return on equity of 45.01%. The business earned $12.58 million during the quarter, compared to analysts’ expectations of $12.02 million. During the same quarter in the prior year, the company earned ($0.08) EPS. The firm’s quarterly revenue was down 16.6% on a year-over-year basis. Analysts predict that Pixelworks will post ($0.24) earnings per share for the current fiscal year.
In related news, CFO Steven L. Moore acquired 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, for a total transaction of $49,523.50. Following the acquisition, the chief financial officer now directly owns 397,636 shares of the company’s stock, valued at $982,160.92. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.70% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the stock. Keane Capital Partners LLC bought a new position in shares of Pixelworks during the first quarter valued at $821,000. Heartland Advisors Inc. boosted its position in shares of Pixelworks by 78.2% in the second quarter. Heartland Advisors Inc. now owns 1,784,200 shares of the company’s stock valued at $3,283,000 after buying an additional 782,800 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position 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. Renaissance Technologies LLC boosted its position 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, Geode Capital Management LLC boosted its position 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. Institutional investors own 21.77% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Pixelworks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pixelworks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.