Pixelworks, Inc. (PXLW) Expected to Post Quarterly Sales of $18.00 Million

Wall Street brokerages predict that Pixelworks, Inc. (NASDAQ:PXLW) will announce $18.00 million in sales for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Pixelworks’ earnings. Pixelworks reported sales of $19.25 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 6.5%. The firm is expected to report its next earnings results on Thursday, August 1st.

According to Zacks, analysts expect that Pixelworks will report full-year sales of $73.20 million for the current fiscal year, with estimates ranging from $72.30 million to $74.10 million. For the next year, analysts forecast that the firm will report sales of $82.35 million, with estimates ranging from $82.20 million to $82.50 million. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Pixelworks.

Pixelworks (NASDAQ:PXLW) last announced its quarterly earnings results on Thursday, May 2nd. The semiconductor company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. Pixelworks had a negative net margin of 5.20% and a negative return on equity of 9.01%. The business had revenue of $16.65 million during the quarter, compared to analysts’ expectations of $16.25 million.

Several research firms have recently commented on PXLW. ValuEngine lowered shares of Pixelworks from a “buy” rating to a “hold” rating in a research note on Saturday, May 4th. TheStreet upgraded shares of Pixelworks from a “d+” rating to a “c” rating in a research report on Friday, May 3rd. Dougherty & Co restated a “buy” rating and set a $5.50 price objective (down previously from $6.50) on shares of Pixelworks in a research report on Friday, May 3rd. Finally, Zacks Investment Research upgraded shares of Pixelworks from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a research report on Wednesday, February 13th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Pixelworks currently has a consensus rating of “Buy” and a consensus target price of $6.17.

In related news, insider Todd Debonis purchased 10,000 shares of Pixelworks stock in a transaction that occurred on Friday, May 24th. The stock was purchased at an average cost of $2.97 per share, with a total value of $29,700.00. Following the completion of the transaction, the insider now owns 868,139 shares of the company’s stock, valued at approximately $2,578,372.83. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Daniel Heneghan purchased 20,000 shares of Pixelworks stock in a transaction that occurred on Thursday, May 9th. The shares were bought at an average cost of $3.25 per share, with a total value of $65,000.00. Following the completion of the transaction, the director now directly owns 95,845 shares of the company’s stock, valued at approximately $311,496.25. The disclosure for this purchase can be found here. Insiders acquired 56,492 shares of company stock valued at $183,898 over the last 90 days. Corporate insiders own 4.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of PXLW. Wellington Management Group LLP boosted its holdings in shares of Pixelworks by 34.6% during the 1st quarter. Wellington Management Group LLP now owns 1,757,093 shares of the semiconductor company’s stock valued at $6,888,000 after acquiring an additional 451,300 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Pixelworks by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 1,326,686 shares of the semiconductor company’s stock worth $5,983,000 after acquiring an additional 32,057 shares in the last quarter. Vanguard Group Inc raised its position in shares of Pixelworks by 2.5% in the 3rd quarter. Vanguard Group Inc now owns 1,326,686 shares of the semiconductor company’s stock worth $5,983,000 after acquiring an additional 32,057 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Pixelworks by 16.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 870,802 shares of the semiconductor company’s stock worth $3,414,000 after acquiring an additional 122,573 shares in the last quarter. Finally, BlackRock Inc. raised its position in shares of Pixelworks by 77.3% in the 3rd quarter. BlackRock Inc. now owns 733,262 shares of the semiconductor company’s stock worth $3,307,000 after acquiring an additional 319,778 shares in the last quarter. 36.84% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ PXLW traded up $0.04 during midday trading on Friday, hitting $2.98. The company’s stock had a trading volume of 5,208 shares, compared to its average volume of 284,389. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.93 and a current ratio of 2.11. Pixelworks has a 1 year low of $2.60 and a 1 year high of $5.75. The firm has a market cap of $111.88 million, a price-to-earnings ratio of -42.43 and a beta of 2.08.

Pixelworks Company Profile

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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