Pixelworks Inc. (PXLW) Trading Down 2.5%
Shares of Pixelworks Inc. (NASDAQ:PXLW) were down 2.5% on Wednesday . The stock traded as low as $3.12 and last traded at $3.15, with a volume of 78,120 shares changing hands. The stock had previously closed at $3.23.
Several analysts have weighed in on PXLW shares. Roth Capital reissued a “buy” rating on shares of Pixelworks in a report on Thursday, July 28th. Zacks Investment Research raised Pixelworks from a “sell” rating to a “hold” rating in a report on Thursday, August 4th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $3.40.
The company’s 50 day moving average price is $2.33 and its 200-day moving average price is $2.06. The company’s market cap is $84.07 million.
Pixelworks (NASDAQ:PXLW) last announced its earnings results on Thursday, July 28th. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.05. The company had revenue of $12.58 million for the quarter, compared to analyst estimates of $12.02 million. The firm’s revenue for the quarter was down 16.6% on a year-over-year basis. During the same period last year, the firm earned ($0.08) earnings per share. On average, equities research analysts expect that Pixelworks Inc. will post ($0.24) EPS for the current year.
In other Pixelworks news, CFO Steven L. Moore purchased 20,050 shares of the stock in a transaction dated Monday, August 8th. The shares were acquired at an average price 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 of the company’s stock, valued at approximately $982,160.92. The acquisition 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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