Pixelworks, Inc. (NASDAQ:PXLW) Posts Quarterly Earnings Results, Beats Expectations By $0.03 EPS
Pixelworks, Inc. (NASDAQ:PXLW) released its quarterly earnings results on Tuesday. The semiconductor company reported $0.10 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.07 by $0.03, Briefing.com reports. Pixelworks had a net margin of 0.55% and a return on equity of 3.30%. The firm had revenue of $20.72 million during the quarter, compared to analyst estimates of $20.50 million. During the same quarter in the prior year, the firm earned ($0.03) EPS. The business’s revenue for the quarter was up 64.7% compared to the same quarter last year.
Pixelworks (NASDAQ:PXLW) traded down 2.88% during midday trading on Tuesday, hitting $4.72. 383,731 shares of the stock traded hands. The stock has a market cap of $139.51 million, a PE ratio of 393.33 and a beta of 0.72. Pixelworks has a 12 month low of $2.17 and a 12 month high of $6.22. The company has a 50-day moving average of $4.76 and a 200-day moving average of $4.52.
In related news, Director David J. Tupman sold 6,000 shares of Pixelworks stock in a transaction dated Wednesday, May 10th. The stock was sold at an average price of $5.49, for a total transaction of $32,940.00. Following the completion of the sale, the director now owns 44,139 shares of the company’s stock, valued at $242,323.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.50% of the company’s stock.
PXLW has been the subject of several research reports. Lake Street Capital upped their price target on shares of Pixelworks from $4.00 to $5.50 and gave the company a “buy” rating in a research report on Friday, April 28th. TheStreet raised shares of Pixelworks from a “d” rating to a “c” rating in a research report on Friday, April 28th. Finally, Zacks Investment Research lowered shares of Pixelworks from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th.
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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