Pixelworks (PXLW) Lifted to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Pixelworks (NASDAQ:PXLW) from a sell rating to a hold rating in a research note released on Thursday morning.

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. “

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Separately, Roth Capital reaffirmed a buy rating and set a $8.00 price target on shares of Pixelworks in a 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’s stock. The company has an average rating of Buy and a consensus target price of $6.81.

PXLW opened at $3.66 on Thursday. The firm has a market cap of $130.23, a P/E ratio of 36.60 and a beta of 0.84. Pixelworks has a twelve month low of $3.50 and a twelve month high of $7.05. The company has a quick ratio of 1.83, a current ratio of 1.99 and a debt-to-equity ratio of 0.19.

Pixelworks (NASDAQ:PXLW) last released its quarterly earnings results on Thursday, February 15th. The semiconductor company reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01. The business had revenue of $18.40 million during the quarter, compared to analyst estimates of $18.08 million. Pixelworks had a negative net margin of 5.18% and a positive return on equity of 11.87%. The business’s revenue was up 15.1% on a year-over-year basis. During the same period last year, the business earned $0.04 EPS. equities analysts forecast that Pixelworks will post -0.06 earnings per share for the current year.

In other news, Director Daniel Heneghan purchased 20,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was acquired at an average cost of $4.33 per share, with a total value of $86,600.00. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 4.50% of the stock is currently owned by company insiders.

A number of hedge funds have recently made changes to their positions in PXLW. State Street Corp acquired a new position in Pixelworks during the 2nd quarter worth $1,376,000. Cadence Capital Management LLC acquired a new position in Pixelworks during the 4th quarter worth $1,615,000. Two Sigma Investments LP acquired a new position in Pixelworks during the 4th quarter worth $1,135,000. Dimensional Fund Advisors LP acquired a new position in Pixelworks during the 3rd quarter worth $747,000. Finally, Renaissance Technologies LLC grew its holdings in Pixelworks by 19.9% during the 4th quarter. Renaissance Technologies LLC now owns 733,246 shares of the semiconductor company’s stock worth $4,641,000 after acquiring an additional 121,500 shares in the last quarter. 38.20% of the stock is owned by institutional investors.

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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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