Pixelworks Inc. (NASDAQ:PXLW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.
According to Zacks, “Pixelworks Inc. design, develop and market semiconductors and software that enable the visual display of broadband content through a wide variety of electronic devices. Broadband content includes video, computer graphics and visual Web information delivered at high speeds via cable and telecommunications lines to the homes and offices. The semiconductors integrate a microprocessor, memory and image processing circuits that function like a computer on a single chip, or system-on-a-chip. “
Separately, Roth Capital reiterated a “buy” rating on shares of Pixelworks in a research note on Thursday, July 28th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $3.50.
Shares of Pixelworks (NASDAQ:PXLW) opened at 2.79 on Thursday. The firm’s market capitalization is $78.98 million. The company has a 50-day moving average of $2.82 and a 200-day moving average of $2.24. Pixelworks has a 52 week low of $1.22 and a 52 week high of $3.89.
Pixelworks (NASDAQ:PXLW) last released 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 firm earned $12.58 million during the quarter, compared to the consensus estimate of $12.02 million. Pixelworks had a negative net margin of 27.16% and a negative return on equity of 45.01%. The firm’s revenue was down 16.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.08) earnings per share. On average, equities analysts forecast that Pixelworks will post ($0.24) earnings per share for the current fiscal year.
In related news, CFO Steven L. Moore acquired 20,050 shares of the business’s stock in a transaction that occurred on Monday, August 8th. The shares were acquired at an average cost 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 in the company, valued at $982,160.92. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 5.70% of the company’s stock.
Large investors have recently modified their holdings of the stock. BlackRock Fund Advisors boosted its stake in shares of Pixelworks by 25.5% in the second quarter. BlackRock Fund Advisors now owns 72,101 shares of the company’s stock worth $133,000 after buying an additional 14,629 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Pixelworks by 7.6% in the first quarter. Geode Capital Management LLC now owns 128,838 shares of the company’s stock worth $282,000 after buying an additional 9,135 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Pixelworks by 113.1% in the first quarter. Renaissance Technologies LLC now owns 190,700 shares of the company’s stock worth $418,000 after buying an additional 101,200 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Pixelworks by 17.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 207,202 shares of the company’s stock worth $454,000 after buying an additional 30,811 shares in the last quarter. Finally, Keane Capital Partners LLC bought a new stake in shares of Pixelworks during the first quarter worth $821,000. Institutional investors and hedge funds own 21.77% of the company’s stock.
Pixelworks Company Profile
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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