Pixelworks (NASDAQ:PXLW) Updates Q3 2024 Earnings Guidance

Pixelworks (NASDAQ:PXLW) updated its third quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of -0.140–0.110 for the period, compared to the consensus earnings per share 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.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Needham & Company LLC cut their target price on Pixelworks from $2.50 to $2.00 and set a buy rating on the stock in a research note on Thursday. Roth Mkm cut their target price on Pixelworks from $3.00 to $2.00 and set a buy rating on the stock in a research note on Wednesday, May 15th. Craig Hallum dropped their price objective on Pixelworks from $4.00 to $3.00 and set a buy rating on the stock in a research note on Wednesday, May 15th. Finally, StockNews.com downgraded Pixelworks from a hold rating to a sell rating in a research note on Friday.

Pixelworks Stock Performance

Pixelworks stock traded down $0.01 during trading on Friday, hitting $0.84. The stock had a trading volume of 311,814 shares, compared to its average volume of 256,184. Pixelworks has a 1 year low of $0.80 and a 1 year high of $3.08. The company has a quick ratio of 4.51, a current ratio of 4.78 and a debt-to-equity ratio of 0.03. The stock’s 50 day moving average is $0.97 and its two-hundred day moving average is $1.71. The stock has a market cap of $48.53 million, a price-to-earnings ratio of -2.15 and a beta of 1.63.

Pixelworks (NASDAQ:PXLW) last posted its quarterly earnings data on Tuesday, May 14th. The semiconductor company reported ($0.09) EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $16.00 million. As a group, analysts predict that Pixelworks will post -0.51 EPS for the current year.

Insider Buying and Selling at Pixelworks

In other Pixelworks news, CEO Todd Debonis sold 24,842 shares of the business’s stock in a transaction on Friday, May 17th. The shares were sold at an average price of $1.15, for a total transaction of $28,568.30. Following the sale, the chief executive officer now owns 1,765,223 shares of the company’s stock, valued at approximately $2,030,006.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.70% of the company’s stock.

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.