Pixelworks (NASDAQ:PXLW) Stock Price Up 5.5%

Shares of Pixelworks, Inc. (NASDAQ:PXLW) rose 5.5% during mid-day trading on Friday . The company traded as high as $3.35 and last traded at $3.25, approximately 374,860 shares were traded during mid-day trading. An increase of 55% from the average daily volume of 241,338 shares. The stock had previously closed at $3.08.

PXLW has been the subject of a number of recent analyst reports. ValuEngine lowered Pixelworks from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. TheStreet raised Pixelworks from a “d+” rating to a “c” rating in a report on Friday, May 3rd. Zacks Investment Research lowered Pixelworks from a “buy” rating to a “hold” rating in a report on Saturday, July 27th. Finally, Dougherty & Co reissued a “buy” rating and issued a $5.50 price objective (down from $6.50) on shares of Pixelworks in a report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Pixelworks currently has an average rating of “Buy” and a consensus target price of $5.75.

The business’s 50 day simple moving average is $3.00. The company has a quick ratio of 1.93, a current ratio of 2.11 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $115.63 million, a PE ratio of -46.43 and a beta of 1.96.

Pixelworks (NASDAQ:PXLW) last issued its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The firm had revenue of $16.65 million during the quarter, compared to analyst estimates of $16.25 million. Pixelworks had a negative return on equity of 9.52% and a negative net margin of 5.07%. As a group, equities analysts forecast that Pixelworks, Inc. will post -0.25 earnings per share for the current fiscal year.

In other news, insider Todd Debonis purchased 20,000 shares of the firm’s stock in a transaction on Tuesday, May 7th. The stock was purchased at an average cost of $3.49 per share, with a total value of $69,800.00. Following the purchase, the insider now owns 858,139 shares in the company, valued at approximately $2,994,905.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have acquired 59,492 shares of company stock valued at $191,698. 4.60% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of PXLW. Cutler Group LP lifted its position in shares of Pixelworks by 65.6% during the 1st quarter. Cutler Group LP now owns 18,953 shares of the semiconductor company’s stock valued at $74,000 after acquiring an additional 7,510 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Pixelworks by 50.7% during the 4th quarter. Bank of New York Mellon Corp now owns 37,394 shares of the semiconductor company’s stock valued at $108,000 after acquiring an additional 12,575 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Pixelworks during the 1st quarter valued at $58,000. Two Sigma Advisers LP lifted its position in shares of Pixelworks by 41.3% during the 4th quarter. Two Sigma Advisers LP now owns 55,100 shares of the semiconductor company’s stock valued at $160,000 after acquiring an additional 16,100 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Pixelworks by 7.7% during the 4th quarter. Geode Capital Management LLC now owns 239,081 shares of the semiconductor company’s stock valued at $693,000 after acquiring an additional 17,081 shares during the last quarter. 36.81% of the stock is owned by hedge funds and other institutional investors.

About Pixelworks (NASDAQ:PXLW)

Pixelworks, Inc designs, develops, and markets video processing semiconductors, intellectual property cores, software, and custom application specific integrated circuits (ICs) solutions for video applications. Its products enable customers to deliver the energy efficient video quality on their devices.

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