Pixelworks (NASDAQ:PXLW) Releases Q4 2021 Earnings Guidance

Pixelworks (NASDAQ:PXLW) issued an update on its fourth quarter 2021 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $-0.070-$-0.030 for the period, compared to the Thomson Reuters consensus estimate of $-0.060. The company issued revenue guidance of $15.50 million-$17.50 million, compared to the consensus revenue estimate of $15.30 million.

PXLW stock traded up $0.21 during midday trading on Thursday, hitting $5.35. 608,240 shares of the company’s stock were exchanged, compared to its average volume of 1,229,785. The business has a 50-day simple moving average of $4.77 and a two-hundred day simple moving average of $4.12. The company has a current ratio of 4.17, a quick ratio of 2.76 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $284.76 million, a PE ratio of -11.38 and a beta of 2.34. Pixelworks has a 1-year low of $2.43 and a 1-year high of $7.90.

Pixelworks (NASDAQ:PXLW) last released its quarterly earnings results on Tuesday, November 9th. The semiconductor company reported ($0.04) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.01. Pixelworks had a negative return on equity of 34.54% and a negative net margin of 47.70%. The business had revenue of $15.20 million during the quarter, compared to analyst estimates of $15.00 million. During the same period last year, the business posted ($0.11) earnings per share. As a group, research analysts expect that Pixelworks will post -0.32 EPS for the current fiscal year.

PXLW has been the subject of several research analyst reports. Citigroup lowered Pixelworks from a buy rating to a neutral rating in a research report on Thursday, August 26th. Needham & Company LLC lifted their target price on Pixelworks from $7.00 to $8.00 and gave the company a buy rating in a report on Wednesday, November 10th. Zacks Investment Research lowered Pixelworks from a hold rating to a sell rating in a report on Thursday, November 18th. Colliers Securities reiterated a neutral rating on shares of Pixelworks in a report on Thursday, August 26th. Finally, Roth Capital lifted their target price on Pixelworks from $5.00 to $10.00 and gave the company a buy rating in a report on Tuesday, August 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus target price of $7.42.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Morgan Stanley lifted its holdings in Pixelworks by 104.0% during the 2nd quarter. Morgan Stanley now owns 13,637 shares of the semiconductor company’s stock worth $47,000 after buying an additional 6,953 shares during the last quarter. Bank of America Corp DE lifted its holdings in Pixelworks by 34.8% during the 2nd quarter. Bank of America Corp DE now owns 49,001 shares of the semiconductor company’s stock worth $167,000 after buying an additional 12,648 shares during the last quarter. Finally, Jane Street Group LLC lifted its holdings in Pixelworks by 1,289.8% during the 3rd quarter. Jane Street Group LLC now owns 189,592 shares of the semiconductor company’s stock worth $906,000 after buying an additional 175,950 shares during the last quarter. 31.56% of the stock is owned by institutional investors.

About Pixelworks

Pixelworks, Inc engages in the design and development integrated circuits used in electronic display devices. It offers consumer electronics and professional display products, video delivery, and streaming solutions for content service providers. Its product category comprises of ImageProcessor integrated circuits (ICs), video co-processor ICs, and transcode ICs.

Read More: What are Institutional Investors?

Receive News & Ratings for Pixelworks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Pixelworks and related companies with MarketBeat.com's FREE daily email newsletter.