Pixelworks (PXLW) Shares Up 8.7%

Pixelworks, Inc. (NASDAQ:PXLW) shot up 8.7% during trading on Friday . The stock traded as high as $4.52 and last traded at $4.39. 793,461 shares traded hands during trading, an increase of 121% from the average session volume of 359,547 shares. The stock had previously closed at $4.04.

Several research firms have recently commented on PXLW. Zacks Investment Research upgraded Pixelworks from a “sell” rating to a “hold” rating in a report on Wednesday. Roth Capital restated a “buy” rating and set a $8.00 price objective on shares of Pixelworks in a report on Tuesday, January 2nd. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $6.81.

The firm has a market capitalization of $138.41, a PE ratio of 43.90 and a beta of 0.84. The company has a quick ratio of 1.83, a current ratio of 1.99 and a debt-to-equity ratio of 0.19.

Pixelworks (NASDAQ:PXLW) last announced its quarterly earnings results on Thursday, February 15th. The semiconductor company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. Pixelworks had a positive return on equity of 11.87% and a negative net margin of 5.18%. The business had revenue of $18.40 million during the quarter, compared to the consensus estimate of $18.08 million. During the same quarter in the prior year, the company posted $0.04 earnings per share. Pixelworks’s revenue was up 15.1% compared to the same quarter last year. equities analysts expect that Pixelworks, Inc. will post -0.06 earnings per share for the current fiscal year.

In related news, Director Daniel Heneghan purchased 20,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was acquired at an average price 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. Corporate insiders own 4.50% of the company’s stock.

A number of institutional investors have recently made changes to their positions in PXLW. State Street Corp bought a new position in Pixelworks in the 2nd quarter valued at $1,376,000. Cadence Capital Management LLC bought a new position in Pixelworks in the 4th quarter valued at $1,615,000. Two Sigma Investments LP bought a new position in Pixelworks in the 4th quarter valued at $1,135,000. Dimensional Fund Advisors LP bought a new position in Pixelworks in the 3rd quarter valued at $747,000. Finally, Renaissance Technologies LLC grew its stake in Pixelworks by 19.9% in the 4th quarter. Renaissance Technologies LLC now owns 733,246 shares of the semiconductor company’s stock valued at $4,641,000 after purchasing an additional 121,500 shares during the period. Institutional investors and hedge funds own 38.20% of the company’s stock.

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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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