Zacks Investment Research downgraded shares of Pixelworks Inc. (NASDAQ:PXLW) from a buy rating to a hold rating in a research note issued to investors on Thursday.

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, Roth Capital restated a buy rating on shares of Pixelworks in a report on Thursday, July 28th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Pixelworks has a consensus rating of Buy and an average target price of $3.50.

Shares of Pixelworks (NASDAQ:PXLW) traded up 2.19% during mid-day trading on Thursday, reaching $2.80. The company had a trading volume of 2,972 shares. Pixelworks has a 12-month low of $1.22 and a 12-month high of $3.89. The firm has a 50-day moving average of $2.82 and a 200-day moving average of $2.24. The company’s market capitalization is $79.26 million.

Pixelworks (NASDAQ:PXLW) last issued its quarterly earnings data on Thursday, July 28th. The company reported ($0.03) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.05. Pixelworks had a negative net margin of 27.16% and a negative return on equity of 45.01%. The business earned $12.58 million during the quarter, compared to analyst estimates of $12.02 million. During the same period last year, the business posted ($0.08) earnings per share. Pixelworks’s quarterly revenue was down 16.6% compared to the same quarter last year. On average, equities analysts anticipate that Pixelworks will post ($0.24) earnings per share for the current fiscal year.

In related news, CFO Steven L. Moore bought 20,050 shares of the business’s stock in a transaction on Monday, August 8th. The stock was acquired at an average price of $2.47 per share, with a total value of $49,523.50. Following the transaction, the chief financial officer now owns 397,636 shares in the company, valued at approximately $982,160.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 5.70% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the company. Keane Capital Partners LLC bought a new stake in Pixelworks during the first quarter worth approximately $821,000. Heartland Advisors Inc. increased its stake in Pixelworks by 78.2% in the second quarter. Heartland Advisors Inc. now owns 1,784,200 shares of the company’s stock worth $3,283,000 after buying an additional 782,800 shares during the period. Jacobs Levy Equity Management Inc. increased its stake in Pixelworks by 17.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 207,202 shares of the company’s stock worth $454,000 after buying an additional 30,811 shares during the period. Renaissance Technologies LLC increased its stake in Pixelworks by 113.1% in the first quarter. Renaissance Technologies LLC now owns 190,700 shares of the company’s stock worth $418,000 after buying an additional 101,200 shares during the period. Finally, Geode Capital Management LLC increased its stake in Pixelworks by 7.6% in the first quarter. Geode Capital Management LLC now owns 128,838 shares of the company’s stock worth $282,000 after buying an additional 9,135 shares during the period. 21.77% of the stock is owned by institutional investors and hedge funds.

About Pixelworks

Pixelworks, Inc designs, develops and markets video and pixel processing semiconductors, intellectual property cores, software and custom application specific integrated circuit (ASIC) solutions for digital video applications. The Company is engaged in the design and development of integrated circuits (ICs) for use in electronic display devices.

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