Pixelworks Inc. (PXLW) Shares Down 4.4%
Pixelworks Inc. (NASDAQ:PXLW)’s share price dropped 4.4% on Friday . The stock traded as low as $2.32 and last traded at $2.37, with a volume of 119,196 shares trading hands. The stock had previously closed at $2.48.
PXLW has been the topic of several research analyst reports. Zacks Investment Research raised Pixelworks from a “hold” rating to a “buy” rating and set a $2.50 price target on the stock in a report on Wednesday, April 13th. 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 assigned a buy rating to the company’s stock. Pixelworks presently has a consensus rating of “Buy” and a consensus price target of $3.40.
The company has a 50-day moving average price of $2.00 and a 200 day moving average price of $1.97. The company’s market cap is $69.57 million.
Pixelworks (NASDAQ:PXLW) last issued its quarterly earnings data on Thursday, July 28th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.05. The business earned $12.58 million during the quarter, compared to the consensus estimate of $12.02 million. During the same period last year, the firm earned ($0.08) EPS. The business’s quarterly revenue was down 16.6% on a year-over-year basis. Equities analysts anticipate that Pixelworks Inc. will post ($0.24) earnings per share for the current year.
In other Pixelworks news, CEO Todd Debonis acquired 25,000 shares of Pixelworks stock in a transaction that occurred on Friday, May 13th. The stock was bought at an average price of $1.64 per share, with a total value of $41,000.00. Following the completion of the purchase, the chief executive officer now directly owns 250,000 shares of the company’s stock, valued at approximately $410,000. The purchase was disclosed in a document filed 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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