Pixelworks (NASDAQ:PXLW) Announces Earnings Results, Beats Estimates By $0.02 EPS

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

Pixelworks Stock Down 2.5 %

Shares of PXLW traded down $0.02 during mid-day trading on Wednesday, hitting $0.82. 385,065 shares of the company traded hands, compared to its average volume of 342,595. Pixelworks has a 1-year low of $0.61 and a 1-year high of $3.08. The business has a 50 day moving average of $0.79 and a 200 day moving average of $0.76. The company has a quick ratio of 3.57, a current ratio of 4.02 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $48.33 million, a PE ratio of -1.74 and a beta of 1.65.

Insider Activity

In other news, CEO Todd Debonis sold 41,884 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $0.74, for a total value of $30,994.16. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.70% of the company’s stock.

Analyst Ratings Changes

Separately, Needham & Company LLC reduced their target price on shares of Pixelworks from $2.00 to $1.50 and set a “buy” rating for the company in a 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.