Pixelworks (NASDAQ:PXLW) Announces Earnings Results, Misses Estimates By $0.20 EPS

Pixelworks (NASDAQ:PXLW) issued its quarterly earnings results on Wednesday. The semiconductor company reported ($0.46) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.20), Zacks reports.

Pixelworks Trading Down 12.1%

NASDAQ PXLW traded down $0.88 during trading hours on Wednesday, reaching $6.41. 788,796 shares of the company traded hands, compared to its average volume of 140,397. The stock has a market capitalization of $38.78 million, a PE ratio of -3.93 and a beta of 1.52. Pixelworks has a 12 month low of $4.80 and a 12 month high of $7.59. The company has a 50 day moving average of $6.22 and a two-hundred day moving average of $6.14.

Insider Activity

In other news, CEO Todd Debonis sold 7,917 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $6.74, for a total value of $53,360.58. Following the sale, the chief executive officer owned 256,392 shares in the company, valued at approximately $1,728,082.08. This represents a 3.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Haley F. Aman sold 8,157 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $6.74, for a total transaction of $54,978.18. Following the completion of the sale, the chief financial officer owned 94,134 shares in the company, valued at approximately $634,463.16. This trade represents a 7.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.70% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Pixelworks in a research report on Tuesday, September 8th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.00.

About Pixelworks

Pixelworks, Inc. is a semiconductor and software company that develops visual-processing technologies for consumer electronics. Its solutions are designed to improve image quality, color accuracy, contrast, motion performance and power efficiency in devices such as smartphones, tablets, monitors, televisions, projectors and other digital displays. The company’s product portfolio has included dedicated visual-processing chips, mobile display processors and software-based technologies. Pixelworks’ offerings include the Iris family of mobile processors and its TrueCut Motion platform, which is intended to enhance motion presentation and provide a consistent viewing experience across compatible displays and content.