Pixelworks (NASDAQ:PXLW) Announces Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Pixelworks (NASDAQ:PXLW) announced its quarterly earnings results on Wednesday. The semiconductor company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.02, Zacks reports. Pixelworks had a negative return on equity of 93.16% and a negative net margin of 50.01%.

Pixelworks Price Performance

Shares of PXLW traded down $0.01 during trading hours on Friday, hitting $0.81. 72,293 shares of the stock were exchanged, compared to its average volume of 347,943. The stock’s 50-day moving average price is $0.79 and its two-hundred day moving average price is $0.77. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.57 and a current ratio of 4.02. The company has a market cap of $47.98 million, a price-to-earnings ratio of -1.73 and a beta of 1.65. Pixelworks has a 12-month low of $0.61 and a 12-month high of $3.08.

Insider Transactions at Pixelworks

In other Pixelworks news, CEO Todd Debonis sold 41,884 shares of Pixelworks stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $0.74, for a total transaction of $30,994.16. Following the completion of the sale, the chief executive officer now directly owns 1,699,300 shares of the company’s stock, valued at $1,257,482. The trade was a 2.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 4.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $1.50 target price on shares of Pixelworks in a report on Thursday.

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.