Pixelworks (NASDAQ:PXLW) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday.
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. “
PXLW has been the topic of a number of other reports. Dougherty & Co boosted their price target on shares of Pixelworks from $6.50 to $7.50 and gave the company a “buy” rating in a research report on Wednesday, November 8th. Roth Capital restated a “buy” rating and issued a $8.00 price target on shares of Pixelworks in a research report on Tuesday, January 2nd. One analyst has rated the stock with a sell rating and three have given a buy rating to the stock. Pixelworks has a consensus rating of “Buy” and a consensus price target of $6.81.
Shares of Pixelworks (PXLW) opened at $4.47 on Wednesday. The company has a current ratio of 1.98, a quick ratio of 1.72 and a debt-to-equity ratio of 0.20. Pixelworks has a 12-month low of $3.80 and a 12-month high of $7.05. The firm has a market cap of $150.71, a PE ratio of -40.63 and a beta of 0.69.
Pixelworks (NASDAQ:PXLW) last released its quarterly earnings results on Thursday, February 15th. The semiconductor company reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01. The firm had revenue of $18.40 million for the quarter, compared to analyst estimates of $18.08 million. Pixelworks had a negative net margin of 5.18% and a positive return on equity of 12.72%. The company’s revenue for the quarter was up 15.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.04 earnings per share. analysts anticipate that Pixelworks will post -0.06 earnings per share for the current year.
In related news, Director Daniel Heneghan bought 20,000 shares of Pixelworks stock in a transaction dated Friday, February 23rd. The shares were bought at an average cost of $4.33 per share, for a total transaction of $86,600.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.50% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in the company. Stifel Financial Corp lifted its position in shares of Pixelworks by 31.1% during the second quarter. Stifel Financial Corp now owns 26,189 shares of the semiconductor company’s stock worth $120,000 after purchasing an additional 6,213 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of Pixelworks by 24.4% during the fourth quarter. Teachers Advisors LLC now owns 62,058 shares of the semiconductor company’s stock worth $393,000 after buying an additional 12,187 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Pixelworks by 15.3% during the third quarter. Bank of New York Mellon Corp now owns 97,753 shares of the semiconductor company’s stock worth $461,000 after buying an additional 12,962 shares during the last quarter. Strs Ohio bought a new stake in shares of Pixelworks during the fourth quarter worth approximately $105,000. Finally, AXA raised its stake in shares of Pixelworks by 99.3% during the fourth quarter. AXA now owns 33,938 shares of the semiconductor company’s stock worth $215,000 after buying an additional 16,909 shares during the last quarter. Institutional investors own 39.69% 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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