Analysts Expect Pixelworks, Inc. (PXLW) Will Post Quarterly Sales of $18.15 Million

Analysts predict that Pixelworks, Inc. (NASDAQ:PXLW) will post sales of $18.15 million for the current quarter, Zacks reports. Two analysts have made estimates for Pixelworks’ earnings. The highest sales estimate is $18.30 million and the lowest is $18.00 million. Pixelworks posted sales of $15.99 million during the same quarter last year, which suggests a positive year-over-year growth rate of 13.5%. The business is scheduled to announce its next quarterly earnings report after the market closes on Thursday, February 15th.

According to Zacks, analysts expect that Pixelworks will report full year sales of $18.15 million for the current year, with estimates ranging from $80.20 million to $80.50 million. For the next year, analysts forecast that the firm will report sales of $81.95 million per share, with estimates ranging from $81.20 million to $82.70 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Pixelworks.

A number of analysts have recently weighed in on the stock. Dougherty & Co raised their price target on shares of Pixelworks from $6.50 to $7.50 and gave the stock a “buy” rating in a research report on Wednesday, November 8th. Zacks Investment Research downgraded shares of Pixelworks from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Finally, Roth Capital reissued a “buy” rating and set a $8.00 price target on shares of Pixelworks in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $6.81.

Shares of Pixelworks (NASDAQ PXLW) opened at $5.29 on Wednesday. The stock has a market cap of $183.59, a P/E ratio of 29.78 and a beta of 0.40. Pixelworks has a 12 month low of $3.80 and a 12 month high of $7.05. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.72 and a current ratio of 1.98.

In other news, CFO Steven L. Moore sold 74,999 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $5.88, for a total transaction of $440,994.12. Following the completion of the sale, the chief financial officer now owns 496,570 shares of the company’s stock, valued at $2,919,831.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 4.50% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Pixelworks by 16.1% in the second quarter. Vanguard Group Inc. now owns 1,183,883 shares of the semiconductor company’s stock worth $5,435,000 after purchasing an additional 163,923 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Pixelworks in the third quarter worth $305,000. Schwab Charles Investment Management Inc. boosted its holdings in Pixelworks by 74.3% in the third quarter. Schwab Charles Investment Management Inc. now owns 87,000 shares of the semiconductor company’s stock worth $410,000 after purchasing an additional 37,100 shares during the period. TIAA CREF Investment Management LLC acquired a new position in Pixelworks in the second quarter worth $345,000. Finally, Northern Trust Corp boosted its holdings in Pixelworks by 563.2% in the second quarter. Northern Trust Corp now owns 314,617 shares of the semiconductor company’s stock worth $1,444,000 after purchasing an additional 267,181 shares during the period. 37.69% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: This piece was reported by American Banking News and is the property of of American Banking News. If you are accessing this piece on another site, it was illegally stolen and reposted in violation of U.S. and international copyright law. The legal version of this piece can be read at https://www.americanbankingnews.com/2018/02/14/analysts-expect-pixelworks-inc-pxlw-will-post-quarterly-sales-of-18-15-million.html.

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.

Get a free copy of the Zacks research report on Pixelworks (PXLW)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Pixelworks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pixelworks and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply