Pixelworks (NASDAQ:PXLW) Announces Quarterly Earnings Results, Misses Expectations By $0.20 EPS

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

Pixelworks Stock Performance

Shares of NASDAQ PXLW traded down $0.88 during mid-day trading on Wednesday, reaching $6.41. The company had a trading volume of 781,715 shares, 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 stock’s 50 day moving average is $6.22 and its 200-day moving average is $6.14. The stock has a market capitalization of $38.78 million, a PE ratio of -3.93 and a beta of 1.52.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated 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 issued a Sell rating to the stock. According to MarketBeat, Pixelworks currently has a consensus rating of “Hold” and an average price target of $12.00.

Insiders Place Their Bets

In related news, CEO Todd Debonis sold 7,917 shares of Pixelworks 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 approximately $1,728,082.08. This trade represents a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Haley F. Aman sold 8,157 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer owned 94,134 shares in the company, valued at $634,463.16. This trade represents a 7.97% decrease in their position. The SEC filing for this sale provides additional information. 4.70% of the stock is currently owned by company insiders.

Pixelworks Company Profile

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.