Pixelworks (NASDAQ:PXLW) Updates Q3 2024 Earnings Guidance

Pixelworks (NASDAQ:PXLW) issued an update on its third quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of -0.140–0.110 for the period, compared to the consensus estimate of -0.110. The company issued revenue guidance of $9.0 million-$10.0 million, compared to the consensus revenue estimate of $11.8 million.

Pixelworks Trading Down 1.2 %

PXLW stock traded down $0.01 during trading on Friday, reaching $0.84. 311,814 shares of the stock were exchanged, compared to its average volume of 256,184. The company has a current ratio of 4.78, a quick ratio of 4.51 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $48.53 million, a price-to-earnings ratio of -2.15 and a beta of 1.63. The business has a 50 day moving average price of $0.97 and a 200-day moving average price of $1.71. Pixelworks has a 1 year low of $0.80 and a 1 year high of $3.08.

Pixelworks (NASDAQ:PXLW) last released its quarterly earnings data on Tuesday, May 14th. The semiconductor company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. The firm had revenue of $16.05 million for the quarter, compared to analysts’ expectations of $16.00 million. Pixelworks had a negative return on equity of 55.94% and a negative net margin of 33.22%. On average, research analysts predict that Pixelworks will post -0.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on PXLW. Roth Mkm reduced their price objective on shares of Pixelworks from $3.00 to $2.00 and set a buy rating on the stock in a report on Wednesday, May 15th. Needham & Company LLC reduced their price target on shares of Pixelworks from $2.50 to $2.00 and set a buy rating on the stock in a research note on Thursday. StockNews.com cut shares of Pixelworks from a hold rating to a sell rating in a research report on Friday. Finally, Craig Hallum cut their target price on Pixelworks from $4.00 to $3.00 and set a buy rating on the stock in a research report on Wednesday, May 15th.

Insider Buying and Selling at Pixelworks

In related news, CEO Todd Debonis sold 24,842 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were sold at an average price of $1.15, for a total transaction of $28,568.30. Following the sale, the chief executive officer now directly owns 1,765,223 shares of the company’s stock, valued at approximately $2,030,006.45. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.70% of the stock is currently owned by corporate insiders.

About Pixelworks

Pixelworks, Inc, together with its subsidiaries, develops and markets semiconductor and software solutions for mobile, home and enterprise, and cinema markets in the United States, Japan, China, Taiwan, Korea, and Europe. The company offers imageprocessor integrated circuits, such as embedded microprocessors, digital signal processing technology, and software that control the operations and signal processing within high-end display systems; visual processor integrated circuits that works with a mobile application processor; and transcoder integrated circuits which includes software that control the operations and signal processing for converting multiple bitrates, resolutions and codecs to provide bandwidth efficient video transmissions based on industry standard protocols.