Published On: Sun, Sep 11th, 2016

Pixelworks Inc. (PXLW) Rating Increased to Buy at Zacks Investment Research

Pixelworks Inc. (NASDAQ:PXLW) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm currently has a $3.00 target price on the stock. Zacks Investment Research’s target price suggests a potential upside of 18.11% from the stock’s previous close.
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. “
Separately, Roth Capital reaffirmed a “buy” rating on shares of Pixelworks in a report on Thursday, July 28th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $3.50.

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Pixelworks (NASDAQ:PXLW) traded down 5.58% on Tuesday, reaching $2.54. The company’s stock had a trading volume of 123,756 shares. The stock’s market cap is $71.90 million. Pixelworks has a one year low of $1.22 and a one year high of $4.89. The stock has a 50-day moving average of $2.61 and a 200-day moving average of $2.17.
Pixelworks (NASDAQ:PXLW) last released its earnings results on Thursday, July 28th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.05. Pixelworks had a negative return on equity of 45.01% and a negative net margin of 27.16%. The firm had revenue of $12.58 million for the quarter, compared to analysts’ expectations of $12.02 million. During the same period in the prior year, the firm posted ($0.08) earnings per share. The company’s quarterly revenue was down 16.6% on a year-over-year basis. On average, analysts predict that Pixelworks will post ($0.24) EPS for the current fiscal year.
In other news, CFO Steven L. Moore bought 20,050 shares of the stock in a transaction on Monday, August 8th. The shares were bought at an average price of $2.47 per share, with a total value of $49,523.50. Following the completion of the acquisition, the chief financial officer now owns 397,636 shares in the company, valued at $982,160.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.70% of the company’s stock.
A number of hedge funds and institutional investors have recently bought and sold shares of PXLW. Keane Capital Partners LLC purchased a new position in Pixelworks during the first quarter worth $821,000. Jacobs Levy Equity Management Inc. increased its position in Pixelworks by 17.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 207,202 shares of the company’s stock worth $454,000 after buying an additional 30,811 shares in the last quarter. Renaissance Technologies LLC increased its position in Pixelworks by 113.1% in the first quarter. Renaissance Technologies LLC now owns 190,700 shares of the company’s stock worth $418,000 after buying an additional 101,200 shares in the last quarter. A.R.T. Advisors LLC purchased a new position in Pixelworks during the first quarter worth $109,000. Finally, Geode Capital Management LLC increased its position in Pixelworks by 7.6% in the first quarter. Geode Capital Management LLC now owns 128,838 shares of the company’s stock worth $282,000 after buying an additional 9,135 shares in the last quarter. 22.14% of the stock is currently owned by institutional investors.
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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