Pixelworks (NASDAQ:PXLW) Releases Earnings Results, Beats Expectations By $0.02 EPS

Pixelworks (NASDAQ:PXLW) issued its quarterly earnings data on Wednesday. The semiconductor company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.02, Zacks reports. Pixelworks had a negative net margin of 50.01% and a negative return on equity of 93.16%.

Pixelworks Price Performance

NASDAQ:PXLW traded down $0.02 during midday trading on Thursday, hitting $0.81. 344,625 shares of the stock were exchanged, compared to its average volume of 342,340. The company has a market capitalization of $47.51 million, a price-to-earnings ratio of -1.71 and a beta of 1.65. The company has a current ratio of 4.02, a quick ratio of 3.57 and a debt-to-equity ratio of 0.03. Pixelworks has a one year low of $0.61 and a one year high of $3.08. The business has a 50-day moving average price of $0.79 and a two-hundred day moving average price of $0.76.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $1.50 price target on shares of Pixelworks in a report on Thursday.

Insider Buying and Selling at Pixelworks

In other news, CEO Todd Debonis sold 41,884 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $0.74, for a total value of $30,994.16. Following the completion of the sale, the chief executive officer now owns 1,699,300 shares in the company, valued at $1,257,482. This represents a 2.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 4.70% of the stock is currently owned by corporate insiders.

Pixelworks Company Profile

Pixelworks, Inc, together with its subsidiaries, develops and markets semiconductor and software solutions for mobile, home and enterprise, and cinema markets in the United States, Japan, China, Taiwan, Korea, and Europe. The company offers imageprocessor integrated circuits, such as embedded microprocessors, digital signal processing technology, and software that control the operations and signal processing within high-end display systems; visual processor integrated circuits that works with a mobile application processor; and transcoder integrated circuits which includes software that control the operations and signal processing for converting multiple bitrates, resolutions and codecs to provide bandwidth efficient video transmissions based on industry standard protocols.