Zacks: Pixelworks, Inc. (PXLW) Receives Average Recommendation of “Strong Buy” from Brokerages

Pixelworks, Inc. (NASDAQ:PXLW) has been given an average broker rating score of 1.33 (Strong Buy) from the three analysts that cover the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a buy recommendation and two have given a strong buy recommendation to the company.

Brokers have set a one year consensus price objective of $6.67 for the company, according to Zacks. Zacks has also given Pixelworks an industry rank of 60 out of 255 based on the ratings given to its competitors.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised Pixelworks from a “hold” rating to a “buy” rating and set a $4.75 target price for the company in a report on Thursday. TheStreet cut Pixelworks from a “c-” rating to a “d” rating in a research report on Thursday, May 3rd. Finally, Lake Street Capital set a $7.00 target price on Pixelworks and gave the company a “buy” rating in a research report on Wednesday, May 30th.

Several large investors have recently modified their holdings of the company. Russell Investments Group Ltd. increased its position in shares of Pixelworks by 391.2% during the 1st quarter. Russell Investments Group Ltd. now owns 28,000 shares of the semiconductor company’s stock valued at $108,000 after purchasing an additional 22,300 shares during the last quarter. Trexquant Investment LP bought a new position in shares of Pixelworks during the 1st quarter valued at about $113,000. Hartford Investment Management Co. bought a new position in shares of Pixelworks during the 2nd quarter valued at about $134,000. Wells Fargo & Company MN grew its position in Pixelworks by 258.3% during the 4th quarter. Wells Fargo & Company MN now owns 42,437 shares of the semiconductor company’s stock worth $268,000 after acquiring an additional 30,594 shares during the last quarter. Finally, Thompson Davis & CO. Inc. grew its position in Pixelworks by 74.3% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 42,475 shares of the semiconductor company’s stock worth $153,000 after acquiring an additional 18,106 shares during the last quarter. 39.16% of the stock is currently owned by institutional investors.

Pixelworks traded down $0.07, hitting $4.23, during mid-day trading on Friday, Marketbeat.com reports. 186,172 shares of the company’s stock traded hands, compared to its average volume of 504,334. Pixelworks has a fifty-two week low of $3.15 and a fifty-two week high of $7.05. The company has a market capitalization of $153.01 million, a price-to-earnings ratio of 42.30 and a beta of 0.80. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.96 and a quick ratio of 1.80.

Pixelworks (NASDAQ:PXLW) last announced its quarterly earnings results on Thursday, August 2nd. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.05). Pixelworks had a negative net margin of 15.98% and a negative return on equity of 9.64%. The business had revenue of $19.25 million for the quarter, compared to analyst estimates of $18.50 million. equities analysts anticipate that Pixelworks will post -0.04 earnings per share for the current fiscal year.

About Pixelworks

Pixelworks, Inc designs, develops, and markets video processing semiconductors, intellectual property cores, software, and custom application specific integrated circuits (ICs) solutions for video applications. Its products enable customers to deliver the energy efficient video quality on their devices.

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