Wall Street analysts forecast that Pixelworks, Inc. (NASDAQ:PXLW) will report $20.51 million in sales for the current fiscal quarter, Zacks reports. Three analysts have issued estimates for Pixelworks’ earnings, with the highest sales estimate coming in at $20.52 million and the lowest estimate coming in at $20.50 million. Pixelworks reported sales of $12.58 million in the same quarter last year, which indicates a positive year-over-year growth rate of 63%. The business is expected to issue its next quarterly earnings results on Thursday, July 27th.

On average, analysts expect that Pixelworks will report full year sales of $20.51 million for the current fiscal year, with estimates ranging from $73.96 million to $75.70 million. For the next year, analysts forecast that the business will post sales of $66.42 million per share, with estimates ranging from $64.53 million to $70.00 million. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Pixelworks.

Pixelworks (NASDAQ:PXLW) last posted its quarterly earnings data on Thursday, April 27th. The semiconductor company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. Pixelworks had a net margin of 0.55% and a return on equity of 3.30%. The company had revenue of $22.70 million during the quarter, compared to analyst estimates of $22.49 million. During the same period in the prior year, the firm earned ($0.14) earnings per share. The business’s quarterly revenue was up 102.7% on a year-over-year basis.

Several equities research analysts have commented on the company. Zacks Investment Research cut Pixelworks from a “buy” rating to a “hold” rating in a research note on Thursday, April 6th. Lake Street Capital boosted their target price on Pixelworks from $4.00 to $5.50 and gave the company a “buy” rating in a research note on Friday, April 28th. Finally, TheStreet upgraded Pixelworks from a “d” rating to a “c” rating in a research note on Friday, April 28th.

Pixelworks (NASDAQ:PXLW) traded down 0.84% during mid-day trading on Thursday, hitting $4.74. 86,848 shares of the stock were exchanged. Pixelworks has a 12-month low of $1.77 and a 12-month high of $6.22. The firm has a 50-day moving average price of $5.04 and a 200-day moving average price of $4.18. The stock has a market capitalization of $140.10 million, a P/E ratio of 395.00 and a beta of 0.73.

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In other Pixelworks news, Director David J. Tupman sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The stock was sold at an average price of $5.49, for a total value of $32,940.00. Following the sale, the director now owns 44,139 shares in the company, valued at approximately $242,323.11. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.50% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of Pixelworks by 3.4% in the first quarter. Bank of New York Mellon Corp now owns 25,674 shares of the semiconductor company’s stock worth $120,000 after buying an additional 855 shares in the last quarter. Intellectus Partners LLC boosted its stake in shares of Pixelworks by 2.2% in the first quarter. Intellectus Partners LLC now owns 46,204 shares of the semiconductor company’s stock worth $215,000 after buying an additional 1,000 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Pixelworks by 6.5% in the fourth quarter. Renaissance Technologies LLC now owns 340,300 shares of the semiconductor company’s stock worth $953,000 after buying an additional 20,900 shares in the last quarter. CAPROCK Group Inc. bought a new stake in shares of Pixelworks during the first quarter worth about $107,000. Finally, Nordea Investment Management AB bought a new stake in shares of Pixelworks during the first quarter worth about $189,000. Institutional investors own 27.59% 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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