Pixelworks Inc. (PXLW) Trading Down 4.5%
Pixelworks Inc. (NASDAQ:PXLW)’s share price traded down 4.5% during mid-day trading on Wednesday . The stock traded as low as $2.75 and last traded at $2.79, with a volume of 93,504 shares trading hands. The stock had previously closed at $2.92.
Several equities analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Pixelworks from a “sell” rating to a “hold” rating in a research note on Thursday, August 4th. Roth Capital reiterated a “buy” rating on shares of Pixelworks in a research note on Thursday, July 28th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Pixelworks has a consensus rating of “Buy” and a consensus price target of $3.40.
The firm’s market capitalization is $77.56 million. The firm has a 50 day moving average of $2.47 and a 200 day moving average of $2.12.
Pixelworks (NASDAQ:PXLW) last posted its quarterly 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 earned $12.58 million during the quarter, compared to analysts’ expectations of $12.02 million. The firm’s revenue for the quarter was down 16.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.08) EPS. Analysts expect that Pixelworks Inc. will post ($0.24) EPS for the current fiscal year.
In other Pixelworks news, CFO Steven L. Moore purchased 20,050 shares of the firm’s stock in a transaction dated Monday, August 8th. The stock was purchased at an average price of $2.47 per share, for a total transaction of $49,523.50. Following the completion of the purchase, 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 legal filing with the SEC, which is accessible through this hyperlink.
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.