Pixelworks (NASDAQ:PXLW) Issues Q3 2023 Earnings Guidance

Posted by Defense World Staff on Aug 9th, 2023

Pixelworks (NASDAQ:PXLW – Get Free Report) updated its third quarter 2023 earnings guidance on Wednesday. The company provided EPS guidance of -$0.13–$0.09 for the period, compared to the consensus EPS estimate of -$0.08. The company issued revenue guidance of $15.00 million-$17.00 million, compared to the consensus revenue estimate of $17.03 million.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on Pixelworks in a research note on Thursday, May 18th. They issued a hold rating for the company.

Get Our Latest Analysis on PXLW

Pixelworks Trading Down 3.1 %

PXLW opened at $1.58 on Wednesday. Pixelworks has a 12 month low of $1.34 and a 12 month high of $2.49. The company has a current ratio of 6.97, a quick ratio of 6.76 and a debt-to-equity ratio of 0.04. The business’s 50-day moving average price is $1.73 and its 200-day moving average price is $1.66.

Pixelworks (NASDAQ:PXLW – Get Free Report) last issued its earnings results on Tuesday, May 9th. The semiconductor company reported ($0.17) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.01. Pixelworks had a negative net margin of 32.82% and a negative return on equity of 48.44%. The company had revenue of $9.97 million for the quarter, compared to the consensus estimate of $10.00 million. On average, analysts expect that Pixelworks will post -0.52 EPS for the current year.

Institutional Trading of Pixelworks

A number of institutional investors have recently modified their holdings of PXLW. Prelude Capital Management LLC purchased a new stake in shares of Pixelworks in the 1st quarter worth about $32,000. Squarepoint Ops LLC purchased a new stake in Pixelworks in the first quarter worth about $52,000. JPMorgan Chase & Co. boosted its position in Pixelworks by 77.6% during the 1st quarter. JPMorgan Chase & Co. now owns 105,228 shares of the semiconductor company’s stock valued at $313,000 after acquiring an additional 45,971 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Pixelworks by 58.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 111,500 shares of the semiconductor company’s stock worth $197,000 after acquiring an additional 41,000 shares during the period. Finally, Acadian Asset Management LLC raised its position in shares of Pixelworks by 13.2% in the 1st quarter. Acadian Asset Management LLC now owns 121,418 shares of the semiconductor company’s stock worth $359,000 after acquiring an additional 14,132 shares in the last quarter. 23.85% of the stock is currently owned by hedge funds and other institutional investors.

Pixelworks Company Profile

(Get Free Report)

Pixelworks, Inc, together with its subsidiaries, develops and markets semiconductor and software solutions for mobile, home entertainment, over-the-air, cinema, and business and education markets. The company provides image processor integrated circuits, including embedded microprocessors, digital signal processing technology, and software that control the operations and signal processing within high-end display systems; visual processor integrated circuits, for mobile devices; and transcoder integrated circuits which comprise embedded microprocessors, digital signal processing technology, and software that control the operations and signal processing for converting bitrates, resolutions, and codecs.