Pixelworks Inc. (PXLW) Trading Down 2.1%
Pixelworks Inc. (NASDAQ:PXLW) shares dropped 2.1% on Thursday . The stock traded as low as $2.65 and last traded at $2.78, with a volume of 168,545 shares. The stock had previously closed at $2.84.
PXLW has been the topic of several research reports. Zacks Investment Research lowered Pixelworks from a “buy” rating to a “hold” rating in a research report on Wednesday, June 8th. Roth Capital reaffirmed a “buy” rating on shares of Pixelworks in a research report on Thursday, July 28th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Pixelworks currently has an average rating of “Buy” and an average target price of $3.40.
The company’s 50-day moving average price is $2.12 and its 200 day moving average price is $2.00. The company’s market cap is $80.84 million.
Pixelworks (NASDAQ:PXLW) last posted its earnings results on Thursday, July 28th. The company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.05. The business had revenue of $12.58 million for the quarter, compared to the consensus estimate of $12.02 million. The business’s revenue was down 16.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. On average, equities research analysts expect that Pixelworks Inc. will post ($0.24) earnings per share for the current year.
In other Pixelworks news, CFO Steven L. Moore bought 20,050 shares of Pixelworks stock in a transaction on Monday, August 8th. The shares were purchased at an average cost of $2.47 per share, for a total transaction of $49,523.50. Following the completion of the acquisition, the chief financial officer now owns 397,636 shares in the company, valued at approximately $982,160.92. The acquisition was disclosed in a document filed with the SEC, which is accessible 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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