Pixelworks Inc. (PXLW) Lifted to “Hold” at Zacks Investment Research
Pixelworks Inc. (NASDAQ:PXLW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
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, Craig Hallum upped their price objective on shares of Pixelworks from $2.50 to $3.00 and gave the company a “buy” rating in a research report on Friday, April 8th. 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 price target of $3.50.
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Shares of Pixelworks (NASDAQ:PXLW) traded down 2.11% during trading on Tuesday, reaching $2.78. The company had a trading volume of 108,286 shares. The stock’s market capitalization is $78.69 million. The stock has a 50 day moving average of $2.82 and a 200 day moving average of $2.26. Pixelworks has a 52-week low of $1.22 and a 52-week high of $3.85.
Pixelworks (NASDAQ:PXLW) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.05. The company earned $12.58 million during the quarter, compared to analysts’ expectations 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 for the quarter was down 16.6% on a year-over-year basis. During the same period in the prior year, the company posted ($0.08) EPS. Equities research analysts forecast that Pixelworks will post ($0.24) EPS for the current year.
In related news, CFO Steven L. Moore purchased 20,050 shares of Pixelworks stock in a transaction dated Monday, August 8th. The shares were acquired at an average price of $2.47 per share, with a total value of $49,523.50. Following the completion of the transaction, the chief financial officer now owns 397,636 shares of the company’s stock, valued at approximately $982,160.92. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 5.70% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Keane Capital Partners LLC acquired a new stake in Pixelworks during the first quarter valued at $821,000. Heartland Advisors Inc. raised its stake in Pixelworks by 78.2% in the second quarter. Heartland Advisors Inc. now owns 1,784,200 shares of the company’s stock valued at $3,283,000 after buying an additional 782,800 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in Pixelworks by 17.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 207,202 shares of the company’s stock valued at $454,000 after buying an additional 30,811 shares during the period. Renaissance Technologies LLC raised its stake in Pixelworks by 113.1% in the first quarter. Renaissance Technologies LLC now owns 190,700 shares of the company’s stock valued at $418,000 after buying an additional 101,200 shares during the period. Finally, A.R.T. Advisors LLC acquired a new stake in Pixelworks during the first quarter valued at $109,000. 21.77% of the stock is currently 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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