Pixelworks Inc. (PXLW) Stock Price Up 3.7%
Pixelworks Inc. (NASDAQ:PXLW)’s share price rose 3.7% during mid-day trading on Tuesday . The company traded as high as $2.84 and last traded at $2.82, with a volume of 50,678 shares changing hands. The stock had previously closed at $2.72.
PXLW has been the subject of a number of recent research reports. Zacks Investment Research cut shares of Pixelworks from a “buy” rating to a “hold” rating in a research note on Wednesday, June 8th. Roth Capital restated a “buy” rating on shares of Pixelworks in a research note on Thursday, July 28th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $3.50.
The firm has a 50 day moving average of $2.75 and a 200-day moving average of $2.20. The stock’s market cap is $80.11 million.
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Pixelworks (NASDAQ:PXLW) last released its earnings results on Thursday, July 28th. The company reported ($0.03) earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.05. Pixelworks had a negative net margin of 27.16% and a negative return on equity of 45.01%. The business earned $12.58 million during the quarter, compared to analysts’ expectations of $12.02 million. During the same period last year, the business earned ($0.08) earnings per share. The firm’s revenue was down 16.6% on a year-over-year basis. On average, equities research analysts expect that Pixelworks Inc. will post ($0.24) earnings per share for the current year.
In other news, CFO Steven L. Moore bought 20,050 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was acquired at an average cost of $2.47 per share, with a total value of $49,523.50. Following the completion of the purchase, the chief financial officer now owns 397,636 shares of the company’s stock, valued at $982,160.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 5.70% of the stock is currently owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. A.R.T. Advisors LLC purchased a new position in Pixelworks during the first quarter valued at $109,000. BlackRock Fund Advisors boosted its position in 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 during the period. Geode Capital Management LLC boosted its position in 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 during the period. Renaissance Technologies LLC boosted its position in 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 during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in 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 during the period. 21.77% of the stock is owned by institutional investors and hedge funds.
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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