Northland Securities Initiates Coverage on Pixelworks (PXLW)

Equities research analysts at Northland Securities initiated coverage on shares of Pixelworks (NASDAQ:PXLW) in a report issued on Wednesday, Marketbeat Ratings reports. The firm set an “outperform” rating and a $8.50 price target on the semiconductor company’s stock. Northland Securities’ price objective indicates a potential upside of 63.15% from the stock’s current price.

Several other research analysts also recently weighed in on PXLW. Lake Street Capital set a $7.00 price target on shares of Pixelworks and gave the stock a “buy” rating in a research report on Wednesday, May 30th. Zacks Investment Research upgraded shares of Pixelworks from a “hold” rating to a “buy” rating and set a $4.75 price target on the stock in a research report on Thursday, August 9th. Five analysts have rated the stock with a buy rating, Pixelworks presently has an average rating of “Buy” and an average target price of $7.15.

Shares of Pixelworks stock opened at $5.21 on Wednesday. The company has a market cap of $193.22 million, a P/E ratio of 52.10 and a beta of 1.21. Pixelworks has a twelve month low of $3.15 and a twelve month high of $7.05. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.71 and a current ratio of 1.89.

Pixelworks (NASDAQ:PXLW) last released its quarterly earnings results on Thursday, August 2nd. The semiconductor company reported ($0.06) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.05). Pixelworks had a negative return on equity of 9.60% and a negative net margin of 15.98%. The business had revenue of $19.25 million during the quarter, compared to the consensus estimate of $18.50 million. research analysts anticipate that Pixelworks will post -0.04 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PXLW. PenderFund Capital Management Ltd. bought a new position in Pixelworks in the first quarter worth approximately $3,034,000. Millennium Management LLC raised its position in Pixelworks by 2,631.6% in the second quarter. Millennium Management LLC now owns 308,285 shares of the semiconductor company’s stock worth $1,113,000 after acquiring an additional 296,999 shares during the period. Dimensional Fund Advisors LP raised its position in Pixelworks by 55.3% in the first quarter. Dimensional Fund Advisors LP now owns 472,690 shares of the semiconductor company’s stock worth $1,829,000 after acquiring an additional 168,281 shares during the period. GSA Capital Partners LLP raised its position in Pixelworks by 502.8% in the first quarter. GSA Capital Partners LLP now owns 195,521 shares of the semiconductor company’s stock worth $757,000 after acquiring an additional 163,088 shares during the period. Finally, Paloma Partners Management Co bought a new position in Pixelworks in the second quarter worth approximately $500,000. Institutional investors and hedge funds own 33.95% of the company’s stock.

Pixelworks Company Profile

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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