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

Pixelworks (NASDAQ:PXLW) announced its quarterly earnings results on Wednesday. The semiconductor company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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

Shares of NASDAQ:PXLW traded down $0.02 during trading on Wednesday, reaching $0.82. The company had a trading volume of 385,065 shares, compared to its average volume of 342,595. The company has a fifty day moving average of $0.79 and a two-hundred day moving average of $0.76. The company has a current ratio of 4.02, a quick ratio of 3.57 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $48.33 million, a P/E ratio of -1.74 and a beta of 1.65. Pixelworks has a 12 month low of $0.61 and a 12 month high of $3.08.

Insider Transactions at Pixelworks

In other Pixelworks news, CEO Todd Debonis sold 41,884 shares of Pixelworks stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $0.74, for a total transaction of $30,994.16. Following the transaction, the chief executive officer now directly owns 1,699,300 shares of the company’s stock, valued at approximately $1,257,482. This trade represents a 2.41 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Separately, Needham & Company LLC reduced their target price on Pixelworks from $2.00 to $1.50 and set a “buy” rating for the company in a research report on Wednesday, November 13th.

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.