Pixelworks (PXLW) Raised to “Strong-Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Pixelworks (NASDAQ:PXLW) from a hold rating to a strong-buy rating in a research report released on Thursday morning. The firm currently has $6.25 price objective on the semiconductor company’s stock.

According to Zacks, “Pixelworks Inc. design, develop and market semiconductors and software that enable the visual display of broadband content through a wide variety of electronic devices. Broadband content includes video, computer graphics and visual Web information delivered at high speeds via cable and telecommunications lines to the homes and offices. The semiconductors integrate a microprocessor, memory and image processing circuits that function like a computer on a single chip, or system-on-a-chip. “

Separately, Dougherty & Co upped their price objective on Pixelworks from $6.50 to $7.50 and gave the company a buy rating in a report on Wednesday, November 8th.

Shares of Pixelworks (NASDAQ PXLW) traded down $0.09 during trading on Thursday, hitting $5.30. The stock had a trading volume of 231,601 shares, compared to its average volume of 374,729. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.72 and a current ratio of 1.98. The firm has a market capitalization of $181.54, a price-to-earnings ratio of 29.44, a price-to-earnings-growth ratio of 2.94 and a beta of 0.60. Pixelworks has a twelve month low of $2.44 and a twelve month high of $6.22.

Pixelworks (NASDAQ:PXLW) last announced its quarterly earnings data on Tuesday, November 7th. The semiconductor company reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.02) by $0.05. The business had revenue of $18.76 million during the quarter, compared to analyst estimates of $18.53 million. Pixelworks had a positive return on equity of 20.65% and a negative net margin of 0.36%. The company’s revenue was up 37.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. equities research analysts expect that Pixelworks will post 0.09 EPS for the current year.

In other news, CFO Steven L. Moore sold 74,999 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $5.88, for a total transaction of $440,994.12. Following the completion of the sale, the chief financial officer now directly owns 496,570 shares of the company’s stock, valued at $2,919,831.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 4.50% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Menta Capital LLC purchased a new stake in shares of Pixelworks during the second quarter valued at $421,000. TIAA CREF Investment Management LLC purchased a new stake in shares of Pixelworks during the second quarter valued at $345,000. OxFORD Asset Management LLP purchased a new stake in shares of Pixelworks during the second quarter valued at $1,604,000. Citadel Advisors LLC lifted its holdings in shares of Pixelworks by 175.5% during the second quarter. Citadel Advisors LLC now owns 57,898 shares of the semiconductor company’s stock valued at $266,000 after purchasing an additional 36,882 shares during the last quarter. Finally, Orca Investment Management LLC lifted its holdings in shares of Pixelworks by 39.9% during the third quarter. Orca Investment Management LLC now owns 537,769 shares of the semiconductor company’s stock valued at $2,533,000 after purchasing an additional 153,492 shares during the last quarter. 37.64% of the stock is owned by institutional investors and hedge funds.

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About Pixelworks

Pixelworks, Inc designs, develops and markets video and pixel processing semiconductors, intellectual property cores, software and custom application specific integrated circuit (ASIC) solutions for digital video applications. The Company is engaged in the design and development of integrated circuits (ICs) for use in electronic display devices.

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