Pixelworks (PXLW) Releases Earnings Results, Beats Expectations By $0.01 EPS

Pixelworks (PXLW) reported quarterly earnings results on Thursday, Apr-28-2016. The company said it had a profit of $-0.14 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.01. Analysts had a consensus of $-0.15. The company posted revenue of $11.20 million in the period, compared to analysts expectations of $11.10 million. The company’s revenue was down -22.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.10 EPS.

Many Wall Street Analysts have commented on Pixelworks. Shares were Downgraded by Lake Street on Feb 5, 2016 to ” Hold” and Lowered the Price Target to $ 2.50 from a previous price target of $5 .Shares were Reiterated by Dougherty & Company on Feb 2, 2016 to “Buy” and Lowered the Price Target to $ 5 from a previous price target of $7 .

Pixelworks closed down -0.03 points or -1.41% at $2.1 with 65,605 shares getting traded on Wednesday. Post opening the session at $2.12, the shares hit an intraday low of $2.1 and an intraday high of $2.18 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Mar 1, 2016, Stephen L Domenik (CEO) purchased 50,000 shares at $1.58 per share price. According to the SEC, on Feb 23, 2016, Daniel Heneghan (director) purchased 30,000 shares at $1.74 per share price. On Feb 19, 2016, Todd Debonis (COO) purchased 75,000 shares at $1.53 per share price, according to the Form-4 filing with the securities and exchange commission.

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’s products allow manufacturers and developers of digital display and projection devices to manufacture screens of all sizes. It provides its customers with software development tools and with software that provides basic functionality for its integrated circuits and enables connectivity of its customers’ products. Its products can be used in a range of devices from large flat panel displays to small low power mobile applications. Its products are designed to reduce overall system power requirements. Its primary target markets include digital projection systems digital televisions Ultrabook devices tablets and smartphones. Its product categories include ImageProcessor integrated circuits (ICs) Video Co-Processor ICs and Networked Display ICs.


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