Pixelworks (NASDAQ:PXLW) Releases Q2 2022 Earnings Guidance

Pixelworks (NASDAQ:PXLWGet Rating) issued an update on its second quarter 2022 earnings guidance on Wednesday morning. The company provided EPS guidance of -$0.10–$0.06 for the period, compared to the consensus EPS estimate of -$0.05. The company issued revenue guidance of $18.00 million-$20.00 million, compared to the consensus revenue estimate of $17.97 million.

NASDAQ PXLW opened at $2.14 on Wednesday. Pixelworks has a 52 week low of $1.86 and a 52 week high of $7.90. The company has a market cap of $115.56 million, a PE ratio of -6.90 and a beta of 2.27. The company has a quick ratio of 4.90, a current ratio of 5.03 and a debt-to-equity ratio of 0.01. The firm’s 50-day simple moving average is $2.36 and its two-hundred day simple moving average is $3.38.

Pixelworks (NASDAQ:PXLWGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The semiconductor company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.07) by $0.01. Pixelworks had a negative return on equity of 23.80% and a negative net margin of 26.16%. The business had revenue of $16.63 million during the quarter, compared to analyst estimates of $16.50 million. As a group, equities research analysts anticipate that Pixelworks will post -0.32 EPS for the current year.

A number of research firms have issued reports on PXLW. StockNews.com started coverage on Pixelworks in a research note on Thursday, March 31st. They issued a hold rating on the stock. Zacks Investment Research cut Pixelworks from a buy rating to a hold rating in a research note on Wednesday, March 23rd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Buy and an average target price of $6.69.

In other Pixelworks news, CEO Todd Debonis sold 12,803 shares of the stock in a transaction that occurred on Thursday, May 19th. The stock was sold at an average price of $2.08, for a total transaction of $26,630.24. Following the transaction, the chief executive officer now owns 1,400,795 shares in the company, valued at $2,913,653.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.70% of the stock is owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Prelude Capital Management LLC acquired a new position in Pixelworks during the 1st quarter worth approximately $32,000. Squarepoint Ops LLC purchased a new position in shares of Pixelworks in the 4th quarter worth $47,000. Morgan Stanley increased its holdings in Pixelworks by 104.0% in the 2nd quarter. Morgan Stanley now owns 13,637 shares of the semiconductor company’s stock valued at $47,000 after purchasing an additional 6,953 shares in the last quarter. Virtu Financial LLC acquired a new stake in Pixelworks in the 4th quarter valued at $58,000. Finally, Bank of America Corp DE grew its stake in shares of Pixelworks by 34.8% during the second quarter. Bank of America Corp DE now owns 49,001 shares of the semiconductor company’s stock valued at $167,000 after acquiring an additional 12,648 shares in the last quarter. 38.57% of the stock is owned by institutional investors and hedge funds.

Pixelworks Company Profile (Get Rating)

Pixelworks, Inc develops and markets semiconductor and software solutions. The company provides video display processor products comprises image processor ICs, such as embedded microprocessors, digital signal processing technology, and software that control the operations and signal processing within high-end display systems; video co-processor ICs that work with an image processor to post-process video signals to enhance the performance or feature set of the overall video solution; and transcoder ICs, such as embedded microprocessors, digital signal processing technology, and software that control the operations and signal processing for converting bitrates, resolutions, and codecs.

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