Pixelworks (NASDAQ:PXLW) Issues Quarterly Earnings Results

Pixelworks (NASDAQ:PXLW) posted its earnings results on Wednesday. The semiconductor company reported ($0.46) EPS for the quarter, missing the consensus estimate of ($0.26) by ($0.20), Zacks reports.

Pixelworks Stock Down 12.1%

PXLW stock traded down $0.88 during midday trading on Wednesday, hitting $6.41. 781,715 shares of the company traded hands, compared to its average volume of 140,068. Pixelworks has a twelve month low of $4.80 and a twelve month high of $7.59. The business has a 50 day simple moving average of $6.22 and a 200-day simple moving average of $6.14. The stock has a market capitalization of $38.78 million, a price-to-earnings ratio of -3.93 and a beta of 1.52.

Insider Buying and Selling

In other news, CFO Haley F. Aman sold 8,157 shares of the business’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $6.74, for a total value of $54,978.18. Following the completion of the sale, the chief financial officer directly owned 94,134 shares in the company, valued at approximately $634,463.16. The trade was a 7.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Todd Debonis sold 7,917 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $6.74, for a total transaction of $53,360.58. Following the completion of the sale, the chief executive officer owned 256,392 shares of the company’s stock, valued at $1,728,082.08. The trade was a 3.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 4.70% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Pixelworks in a report on Tuesday, September 8th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.00.

About Pixelworks

Pixelworks, Inc. is a semiconductor and software company that develops visual-processing technologies for consumer electronics. Its solutions are designed to improve image quality, color accuracy, contrast, motion performance and power efficiency in devices such as smartphones, tablets, monitors, televisions, projectors and other digital displays. The company’s product portfolio has included dedicated visual-processing chips, mobile display processors and software-based technologies. Pixelworks’ offerings include the Iris family of mobile processors and its TrueCut Motion platform, which is intended to enhance motion presentation and provide a consistent viewing experience across compatible displays and content.