$16.55 Million in Sales Expected for Pixelworks, Inc. (PXLW) This Quarter

Brokerages forecast that Pixelworks, Inc. (NASDAQ:PXLW) will report $16.55 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Pixelworks’ earnings, with the highest sales estimate coming in at $16.90 million and the lowest estimate coming in at $16.20 million. Pixelworks reported sales of $22.71 million in the same quarter last year, which would suggest a negative year over year growth rate of 27.1%. The company is scheduled to report its next earnings results on Thursday, April 26th.

According to Zacks, analysts expect that Pixelworks will report full-year sales of $16.55 million for the current year, with estimates ranging from $81.20 million to $82.70 million. For the next year, analysts expect that the company will post sales of $0.00 per share. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that follow Pixelworks.

Pixelworks (NASDAQ:PXLW) last issued its quarterly earnings results on Thursday, February 15th. The semiconductor company reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. The company had revenue of $18.40 million for the quarter, compared to the consensus estimate of $18.08 million. Pixelworks had a positive return on equity of 12.72% and a negative net margin of 5.18%. The firm’s revenue was up 15.1% compared to the same quarter last year. During the same period last year, the business posted $0.04 earnings per share.

PXLW has been the topic of several research analyst reports. Roth Capital reaffirmed a “buy” rating and issued a $8.00 price target on shares of Pixelworks in a research report on Tuesday, January 2nd. Zacks Investment Research downgraded Pixelworks from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Finally, Dougherty & Co raised their price target on Pixelworks from $6.50 to $7.50 and gave the company a “buy” rating in a research report on Wednesday, November 8th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $6.81.

In other news, CFO Steven L. Moore sold 74,999 shares of Pixelworks stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $5.88, for a total value of $440,994.12. Following the completion of the transaction, the chief financial officer now owns 496,570 shares in the company, valued at $2,919,831.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 4.50% of the stock is owned by company insiders.

Several large investors have recently bought and sold shares of the company. Stifel Financial Corp raised its stake in shares of Pixelworks by 31.1% in the second quarter. Stifel Financial Corp now owns 26,189 shares of the semiconductor company’s stock valued at $120,000 after acquiring an additional 6,213 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of Pixelworks by 24.4% in the fourth quarter. Teachers Advisors LLC now owns 62,058 shares of the semiconductor company’s stock valued at $393,000 after acquiring an additional 12,187 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Pixelworks by 15.3% in the third quarter. Bank of New York Mellon Corp now owns 97,753 shares of the semiconductor company’s stock valued at $461,000 after acquiring an additional 12,962 shares during the last quarter. Strs Ohio bought a new position in shares of Pixelworks in the fourth quarter valued at approximately $105,000. Finally, AXA raised its stake in shares of Pixelworks by 99.3% in the fourth quarter. AXA now owns 33,938 shares of the semiconductor company’s stock valued at $215,000 after acquiring an additional 16,909 shares during the last quarter. Institutional investors own 37.69% of the company’s stock.

Shares of Pixelworks (NASDAQ:PXLW) traded down $0.84 during trading hours on Wednesday, hitting $4.51. The stock had a trading volume of 2,307,584 shares, compared to its average volume of 308,122. The firm has a market capitalization of $130.22, a P/E ratio of -41.00 and a beta of 0.40. Pixelworks has a 12 month low of $3.80 and a 12 month high of $7.05. The company has a current ratio of 1.98, a quick ratio of 1.72 and a debt-to-equity ratio of 0.20.

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About Pixelworks

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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