Pixelworks’ (PXLW) Buy Rating Reiterated at Roth Capital

Roth Capital reissued their buy rating on shares of Pixelworks (NASDAQ:PXLW) in a research report report published on Tuesday, MarketBeat reports. The firm currently has a $8.00 price target on the semiconductor company’s stock.

Several other analysts also recently weighed in on the company. Zacks Investment Research upgraded Pixelworks from a hold rating to a strong-buy rating and set a $6.25 price target on the stock in a research note on Thursday, December 7th. Dougherty & Co increased their target price on Pixelworks from $6.50 to $7.50 and gave the company a buy rating in a research note on Wednesday, November 8th. Three equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $6.81.

Shares of Pixelworks (PXLW) opened at $6.76 on Tuesday. The firm has a market capitalization of $230.86, a PE ratio of 37.44 and a beta of 0.60. The company has a current ratio of 1.98, a quick ratio of 1.72 and a debt-to-equity ratio of 0.20. Pixelworks has a fifty-two week low of $2.80 and a fifty-two week high of $6.86.

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

In related news, CFO Steven L. Moore sold 74,999 shares of the firm’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $5.88, for a total value of $440,994.12. Following the transaction, the chief financial officer now directly owns 496,570 shares of the company’s stock, valued at approximately $2,919,831.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 4.50% of the stock is currently owned by company insiders.

Hedge funds have recently modified their holdings of the company. Menta Capital LLC purchased a new position in Pixelworks in the second quarter worth about $421,000. Vanguard Group Inc. grew its position in Pixelworks by 16.1% in the second quarter. Vanguard Group Inc. now owns 1,183,883 shares of the semiconductor company’s stock worth $5,435,000 after acquiring an additional 163,923 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Pixelworks during the third quarter valued at approximately $305,000. TIAA CREF Investment Management LLC purchased a new position in shares of Pixelworks during the second quarter valued at approximately $345,000. Finally, OxFORD Asset Management LLP purchased a new position in shares of Pixelworks during the second quarter valued at approximately $1,604,000. 37.64% of the stock is currently owned by hedge funds and other institutional investors.

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Pixelworks Company Profile

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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