Pixelworks (NASDAQ:PXLW) Releases Q4 2021 Earnings Guidance

Pixelworks (NASDAQ:PXLW) updated its fourth quarter 2021 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $-0.070-$-0.030 for the period, compared to the Thomson Reuters consensus estimate of $-0.060. The company issued revenue guidance of $15.50 million-$17.50 million, compared to the consensus revenue estimate of $15.30 million.

A number of brokerages recently commented on PXLW. Needham & Company LLC upped their target price on Pixelworks from $7.00 to $8.00 and gave the company a buy rating in a report on Wednesday, November 10th. Zacks Investment Research downgraded Pixelworks from a hold rating to a sell rating in a report on Thursday, November 18th. Citigroup downgraded Pixelworks from a buy rating to a neutral rating in a report on Thursday, August 26th. Roth Capital upped their target price on Pixelworks from $5.00 to $10.00 and gave the company a buy rating in a report on Tuesday, August 31st. Finally, Colliers Securities restated a neutral rating on shares of Pixelworks in a report on Thursday, August 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $7.42.

PXLW traded up $0.21 during trading on Thursday, reaching $5.35. The stock had a trading volume of 608,240 shares, compared to its average volume of 1,229,785. The stock’s 50 day moving average is $4.77 and its two-hundred day moving average is $4.12. The company has a current ratio of 4.17, a quick ratio of 2.76 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $284.76 million, a price-to-earnings ratio of -11.38 and a beta of 2.34. Pixelworks has a one year low of $2.43 and a one year high of $7.90.

Pixelworks (NASDAQ:PXLW) last posted its quarterly earnings data on Tuesday, November 9th. The semiconductor company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.01. The business had revenue of $15.20 million during the quarter, compared to the consensus estimate of $15.00 million. Pixelworks had a negative return on equity of 34.54% and a negative net margin of 47.70%. During the same quarter in the prior year, the company earned ($0.11) earnings per share. On average, equities research analysts predict that Pixelworks will post -0.32 earnings per share for the current year.

Large investors have recently modified their holdings of the company. Morgan Stanley boosted its position in shares of Pixelworks by 104.0% during the second quarter. Morgan Stanley now owns 13,637 shares of the semiconductor company’s stock valued at $47,000 after buying an additional 6,953 shares during the last quarter. Bank of America Corp DE boosted its position in Pixelworks by 34.8% in the second quarter. Bank of America Corp DE now owns 49,001 shares of the semiconductor company’s stock worth $167,000 after purchasing an additional 12,648 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in Pixelworks by 1,289.8% in the third quarter. Jane Street Group LLC now owns 189,592 shares of the semiconductor company’s stock worth $906,000 after purchasing an additional 175,950 shares during the last quarter. Hedge funds and other institutional investors own 31.56% of the company’s stock.

About Pixelworks

Pixelworks, Inc engages in the design and development integrated circuits used in electronic display devices. It offers consumer electronics and professional display products, video delivery, and streaming solutions for content service providers. Its product category comprises of ImageProcessor integrated circuits (ICs), video co-processor ICs, and transcode ICs.

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