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

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

PXLW stock traded down $0.02 during trading on Wednesday, reaching $0.82. The stock had a trading volume of 385,065 shares, compared to its average volume of 342,595. 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 price-to-earnings ratio of -1.74 and a beta of 1.65. Pixelworks has a one year low of $0.61 and a one year high of $3.08. The company’s 50 day moving average is $0.79 and its two-hundred day moving average is $0.76.

Insiders Place Their Bets

In other news, CEO Todd Debonis sold 41,884 shares of Pixelworks stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $0.74, for a total transaction of $30,994.16. Following the sale, the chief executive officer now directly owns 1,699,300 shares in the company, valued at $1,257,482. The trade was a 2.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 4.70% of the company’s stock.

Wall Street Analyst Weigh In

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

About Pixelworks

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.