Pixelworks (PXLW) Upgraded to “Strong-Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Pixelworks (NASDAQ:PXLW) from a hold rating to a strong-buy rating in a research note released on Thursday. They currently have $6.25 target price on the semiconductor company’s stock.

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, Dougherty & Co boosted their target price on Pixelworks from $6.50 to $7.50 and gave the stock a buy rating in a research report on Wednesday, November 8th.

Pixelworks (PXLW) opened at $5.30 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.72 and a current ratio of 1.98. Pixelworks has a 52-week low of $2.44 and a 52-week high of $6.22. The stock has a market capitalization of $181.54, a P/E ratio of 29.44, a price-to-earnings-growth ratio of 2.94 and a beta of 0.60.

Pixelworks (NASDAQ:PXLW) last released its earnings results on Tuesday, November 7th. The semiconductor company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.05. Pixelworks had a positive return on equity of 20.65% and a negative net margin of 0.36%. The company had revenue of $18.76 million for the quarter, compared to analysts’ expectations of $18.53 million. During the same quarter in the previous year, the firm posted ($0.02) EPS. The firm’s quarterly revenue was up 37.3% on a year-over-year basis. sell-side analysts forecast that Pixelworks will post 0.09 earnings per share for the current fiscal year.

In other Pixelworks news, CFO Steven L. Moore sold 74,999 shares of the business’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $5.88, for a total transaction of $440,994.12. Following the transaction, the chief financial officer now owns 496,570 shares in the company, valued at approximately $2,919,831.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 4.50% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Thompson Davis & CO. Inc. boosted its stake in shares of Pixelworks by 2.2% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 30,912 shares of the semiconductor company’s stock worth $142,000 after acquiring an additional 679 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Pixelworks by 3.4% during the 1st quarter. Bank of New York Mellon Corp now owns 25,674 shares of the semiconductor company’s stock worth $120,000 after acquiring an additional 855 shares in the last quarter. Stifel Financial Corp boosted its stake in shares of Pixelworks by 31.1% during the 2nd quarter. Stifel Financial Corp now owns 26,189 shares of the semiconductor company’s stock worth $120,000 after acquiring an additional 6,213 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Pixelworks during the 2nd quarter worth approximately $105,000. Finally, Macquarie Group Ltd. purchased a new stake in shares of Pixelworks during the 3rd quarter worth approximately $108,000. 37.64% of the stock is currently owned by institutional investors and hedge funds.

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Pixelworks Company Profile

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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