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Pixelworks (PXLW) Receives a Buy from Needham

In a report released today, Rajvindra Gill from Needham reiterated a Buy rating on Pixelworks (PXLWResearch Report), with a price target of $4.00. The company’s shares opened today at $2.34.

Gill covers the Technology sector, focusing on stocks such as Nvidia, Pixelworks, and Micron. According to TipRanks, Gill has an average return of 15.2% and a 61.35% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Pixelworks with a $4.50 average price target.

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Based on Pixelworks’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $19.08 million and a GAAP net loss of $5.01 million. In comparison, last year the company earned a revenue of $14.05 million and had a GAAP net loss of $4.38 million

Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of PXLW in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Pixelworks, Inc. engages in design, development, and marketing of visual display processing semiconductors, intellectual property cores, software, and custom application specific integrated circuits solutions for video applications. It also offers solutions for advanced media processing, and the delivery and streaming of video. The company was founded in 1997 by Robert Y. Greenberg and Allen H. Alley and is headquartered in San Jose, CA.

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