Equities research analysts expect that Pixelworks, Inc. (NASDAQ:PXLW) will post $18.55 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Pixelworks’ earnings. The lowest sales estimate is $18.50 million and the highest is $18.60 million. Pixelworks reported sales of $13.66 million in the same quarter last year, which indicates a positive year over year growth rate of 35.8%. The firm is scheduled to announce its next quarterly earnings results after the market closes on Tuesday, November 7th.

According to Zacks, analysts expect that Pixelworks will report full year sales of $18.55 million for the current financial year, with estimates ranging from $79.91 million to $80.50 million. For the next fiscal year, analysts expect that the business will report sales of $80.72 million per share, with estimates ranging from $79.53 million to $81.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Pixelworks.

Pixelworks (NASDAQ:PXLW) last issued its earnings results on Tuesday, August 8th. The semiconductor company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.03. Pixelworks had a net margin of 4.35% and a return on equity of 20.00%. The business had revenue of $20.72 million for the quarter, compared to analyst estimates of $20.50 million. During the same period in the previous year, the business earned ($0.03) EPS. The firm’s revenue was up 64.7% on a year-over-year basis.

Separately, Zacks Investment Research lowered shares of Pixelworks from a “hold” rating to a “sell” rating in a research report on Thursday, July 6th.

In other Pixelworks news, Director C Scott Gibson sold 11,000 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $4.61, for a total value of $50,710.00. Following the transaction, the director now directly owns 91,709 shares of the company’s stock, valued at approximately $422,778.49. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.50% of the stock is owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Orca Investment Management LLC increased its holdings in Pixelworks by 39.9% in the 3rd quarter. Orca Investment Management LLC now owns 537,769 shares of the semiconductor company’s stock valued at $2,533,000 after buying an additional 153,492 shares during the period. California State Teachers Retirement System bought a new position in Pixelworks in the 2nd quarter valued at about $232,000. State Street Corp bought a new position in Pixelworks in the 2nd quarter valued at about $1,376,000. Stifel Financial Corp increased its holdings in Pixelworks by 31.1% in the 2nd quarter. Stifel Financial Corp now owns 26,189 shares of the semiconductor company’s stock valued at $120,000 after buying an additional 6,213 shares during the period. Finally, OxFORD Asset Management LLP bought a new position in Pixelworks in the 2nd quarter valued at about $1,604,000. 33.92% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Pixelworks (NASDAQ PXLW) opened at 5.52 on Tuesday. The stock’s 50 day moving average is $5.12 and its 200 day moving average is $4.90. Pixelworks has a 12 month low of $2.17 and a 12 month high of $6.22. The firm has a market capitalization of $186.59 million, a price-to-earnings ratio of 53.59 and a beta of 0.72.

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About Pixelworks

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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