Pixelworks (NASDAQ:PXLW) Releases Q2 2022 Earnings Guidance

Posted by on Jun 8th, 2022

Pixelworks (NASDAQ:PXLW – Get Rating) issued an update on its second quarter 2022 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of -$0.10–$0.06 for the period, compared to the consensus 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.

Shares of NASDAQ:PXLW opened at $2.16 on Wednesday. The firm has a market cap of $116.64 million, a PE ratio of -6.97 and a beta of 2.27. The firm’s 50 day simple moving average is $2.27 and its 200-day simple moving average is $3.27. Pixelworks has a one year low of $1.86 and a one year high of $7.90. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.90 and a current ratio of 5.03.

Pixelworks (NASDAQ:PXLW – Get Rating) last issued its earnings results on Tuesday, May 10th. The semiconductor company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $16.63 million for the quarter, compared to analyst estimates of $16.50 million. Pixelworks had a negative net margin of 26.16% and a negative return on equity of 23.80%. Equities research analysts predict that Pixelworks will post -0.32 EPS for the current fiscal year.

A number of equities analysts have recently issued reports on PXLW shares. Zacks Investment Research downgraded shares of Pixelworks from a buy rating to a hold rating in a research note on Wednesday, March 23rd. StockNews.com started coverage on shares of Pixelworks in a research note on Thursday, March 31st. They set a hold rating on the stock. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Pixelworks has an average rating of Buy and an average price target of $6.69.

In other Pixelworks news, CEO Todd Debonis sold 12,803 shares of the firm’s stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $2.08, for a total value of $26,630.24. Following the completion of the sale, the chief executive officer now directly owns 1,400,795 shares in the company, valued at $2,913,653.60. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.70% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in PXLW. Morgan Stanley boosted its stake in Pixelworks by 104.0% in the second quarter. Morgan Stanley now owns 13,637 shares of the semiconductor company’s stock valued at $47,000 after acquiring an additional 6,953 shares in the last quarter. Bank of America Corp DE lifted 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 worth $167,000 after buying an additional 12,648 shares during the period. Jane Street Group LLC lifted its stake in shares of Pixelworks by 1,289.8% during the third 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 period. JPMorgan Chase & Co. acquired a new stake in shares of Pixelworks during the fourth quarter worth $261,000. Finally, Geode Capital Management LLC lifted its stake in shares of Pixelworks by 3.5% during the fourth quarter. Geode Capital Management LLC now owns 448,190 shares of the semiconductor company’s stock worth $1,972,000 after buying an additional 15,195 shares during the period. Institutional investors own 38.57% of the company’s stock.

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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