Pixelworks (NASDAQ:PXLW – Get Free Report) updated its third quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of -0.140–0.110 for the period, compared to the consensus estimate of -0.110. The company issued revenue guidance of $9.0 million-$10.0 million, compared to the consensus revenue estimate of $11.8 million.
Analysts Set New Price Targets
Several analysts have recently commented on the company. Roth Mkm decreased their price objective on Pixelworks from $3.00 to $2.00 and set a buy rating for the company in a report on Wednesday, May 15th. Needham & Company LLC decreased their price target on Pixelworks from $2.50 to $2.00 and set a buy rating for the company in a research note on Thursday. StockNews.com lowered Pixelworks from a hold rating to a sell rating in a research note on Friday. Finally, Craig Hallum cut their price objective on shares of Pixelworks from $4.00 to $3.00 and set a buy rating on the stock in a report on Wednesday, May 15th.
Check Out Our Latest Stock Analysis on PXLW
Pixelworks Stock Performance
Pixelworks (NASDAQ:PXLW – Get Free Report) last announced its quarterly earnings data on Tuesday, May 14th. The semiconductor company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. Pixelworks had a negative return on equity of 55.94% and a negative net margin of 33.22%. The business had revenue of $16.05 million for the quarter, compared to analyst estimates of $16.00 million. Research analysts predict that Pixelworks will post -0.51 EPS for the current fiscal year.
Insider Buying and Selling
In other news, CEO Todd Debonis sold 24,842 shares of the stock in a transaction on Friday, May 17th. The shares were sold at an average price of $1.15, for a total value of $28,568.30. Following the sale, the chief executive officer now owns 1,765,223 shares in the company, valued at $2,030,006.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 4.70% of the stock is owned by corporate insiders.
Pixelworks Company Profile
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.
Featured Articles
- Five stocks we like better than Pixelworks
- High Flyers: 3 Natural Gas Stocks for March 2022
- Cassava Sciences: A Hot Stock to Trade, Invest, or Avoid?
- EV Stocks and How to Profit from Them
- MarketBeat Week in Review – 8/5 – 8/9
- What is MarketRank™? How to Use it
- The Cannabis Sector: Profitability Takes Center Stage
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.