Pixelworks (NASDAQ:PXLW) Rating Lowered to Hold at Zacks Investment Research

Pixelworks (NASDAQ:PXLW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks.com reports.

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, Lake Street Capital downgraded shares of Pixelworks from a “buy” rating to a “hold” rating and cut their price objective for the stock from $4.00 to $2.50 in a report on Friday, October 30th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $4.63.

Pixelworks stock opened at $3.25 on Tuesday. Pixelworks has a twelve month low of $1.85 and a twelve month high of $5.23. The firm has a 50 day moving average price of $2.86 and a 200-day moving average price of $2.64. The company has a market capitalization of $136.62 million, a P/E ratio of -6.63 and a beta of 2.05. The company has a quick ratio of 1.75, a current ratio of 2.04 and a debt-to-equity ratio of 0.05.

Pixelworks (NASDAQ:PXLW) last released its earnings results on Thursday, October 29th. The semiconductor company reported ($0.11) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.01). The company had revenue of $8.19 million for the quarter, compared to the consensus estimate of $8.50 million. Pixelworks had a negative net margin of 32.77% and a negative return on equity of 22.96%. Equities analysts expect that Pixelworks will post -0.43 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC boosted its holdings in Pixelworks by 20.9% in the 3rd quarter. Acadian Asset Management LLC now owns 524,308 shares of the semiconductor company’s stock worth $1,075,000 after buying an additional 90,689 shares during the period. State Street Corp lifted its stake in Pixelworks by 7.7% in the 3rd quarter. State Street Corp now owns 443,944 shares of the semiconductor company’s stock worth $910,000 after purchasing an additional 31,568 shares in the last quarter. GSA Capital Partners LLP lifted its stake in Pixelworks by 563.0% in the 3rd quarter. GSA Capital Partners LLP now owns 304,375 shares of the semiconductor company’s stock worth $624,000 after purchasing an additional 258,463 shares in the last quarter. Worth Venture Partners LLC lifted its stake in Pixelworks by 39.6% in the 3rd quarter. Worth Venture Partners LLC now owns 245,738 shares of the semiconductor company’s stock worth $504,000 after purchasing an additional 69,719 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in Pixelworks by 20.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 220,218 shares of the semiconductor company’s stock worth $712,000 after purchasing an additional 37,713 shares in the last quarter. 35.48% of the stock is owned by institutional investors.

About Pixelworks

Pixelworks, Inc develops and markets semiconductor and software solutions. The company provides video display processor products, including 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; and 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, as well as 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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