Insider Selling: Bruce A. Walicek Unloads 12,000 Shares of Pixelworks Stock (PXLW)
Pixelworks (NASDAQ:PXLW) CEO Bruce A. Walicek sold 12,000 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $6.46, for a total value of $77,520.00. Following the completion of the sale, the chief executive officer now directly owns 408,970 shares of the company’s stock, valued at approximately $2,641,946. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Pixelworks (NASDAQ:PXLW) traded up 4.50% during mid-day trading on Thursday, hitting $6.73. 972,933 shares of the company’s stock traded hands. Pixelworks has a 52-week low of $3.63 and a 52-week high of $9.83. The stock has a 50-day moving average of $7.46 and a 200-day moving average of $6.33. The company’s market cap is $154.1 million.
Pixelworks (NASDAQ:PXLW) last posted its quarterly earnings results on Thursday, July 31st. The company reported ($0.06) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.03) by $0.03. The company had revenue of $15.17 million for the quarter, compared to the consensus estimate of $15.00 million. During the same quarter in the prior year, the company posted ($0.23) earnings per share. The company’s quarterly revenue was up 58.8% on a year-over-year basis. On average, analysts predict that Pixelworks will post $0.02 earnings per share for the current fiscal year.
Separately, analysts at Zacks downgraded shares of Pixelworks from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 30th. They now have a $10.10 price target on the stock.
Pixelworks, Inc (NASDAQ:PXLW) is a designer, developer and marketer of video and pixel processing semiconductors and software for digital video applications.
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