Pixelworks (PXLW) Stock Rating Upgraded by Zacks Investment Research

Pixelworks (NASDAQ:PXLW) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday, January 10th.

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. “

A number of other equities analysts have also weighed in on PXLW. Dougherty & Co upped their price objective on Pixelworks from $6.50 to $7.50 and gave the stock a “buy” rating in a research note on Wednesday, November 8th. Roth Capital reiterated a “buy” rating and issued a $8.00 target price 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 given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $6.81.

Pixelworks (NASDAQ:PXLW) opened at $6.61 on Wednesday. The firm has a market capitalization of $228.12, a PE ratio of 37.00 and a beta of 0.60. The company has a debt-to-equity ratio of 0.20, a current ratio of 1.98 and a quick ratio of 1.72. Pixelworks has a one year low of $2.85 and a one year high of $7.05.

Pixelworks (NASDAQ:PXLW) last released its quarterly earnings data on Tuesday, November 7th. The semiconductor company reported $0.03 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.05. The firm had revenue of $18.76 million during the quarter, compared to analyst estimates of $18.53 million. Pixelworks had a positive return on equity of 20.65% and a negative net margin of 0.36%. The business’s quarterly revenue was up 37.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.02) earnings per share. research analysts forecast that Pixelworks will post 0.09 EPS for the current year.

In other Pixelworks news, CFO Steven L. Moore sold 74,999 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $5.88, for a total transaction of $440,994.12. Following the sale, the chief financial officer now directly owns 496,570 shares in the company, valued at $2,919,831.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.50% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Pixelworks by 16.1% during the second quarter. Vanguard Group Inc. now owns 1,183,883 shares of the semiconductor company’s stock valued at $5,435,000 after purchasing an additional 163,923 shares during the period. Orca Investment Management LLC raised its holdings in shares of Pixelworks by 39.9% in the third quarter. Orca Investment Management LLC now owns 537,769 shares of the semiconductor company’s stock worth $2,533,000 after buying an additional 153,492 shares during the period. NEA Management Company LLC purchased a new stake in shares of Pixelworks in the third quarter worth approximately $1,694,000. OxFORD Asset Management LLP purchased a new stake in shares of Pixelworks in the second quarter worth approximately $1,604,000. Finally, Algert Global LLC raised its holdings in shares of Pixelworks by 19.9% in the third quarter. Algert Global LLC now owns 345,781 shares of the semiconductor company’s stock worth $1,629,000 after buying an additional 57,340 shares during the period. Institutional investors and hedge funds own 37.64% 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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