Insider Selling: Bruce A. Walicek Unloads 12,000 Shares of Pixelworks Stock (PXLW)

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Pixelworks (NASDAQ:PXLW) CEO Bruce A. Walicek unloaded 12,000 shares of the company’s stock on the open market in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $7.60, for a total value of $91,200.00. Following the sale, the chief executive officer now directly owns 328,761 shares in the company, valued at approximately $2,498,584. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Separately, analysts at Zacks upgraded shares of Pixelworks from a “neutral” rating to an “outperform” rating in a research note on Tuesday, July 1st. They now have a $8.00 price target on the stock.

Pixelworks (NASDAQ:PXLW) opened at 8.73 on Thursday. Pixelworks has a 1-year low of $3.14 and a 1-year high of $9.19. The stock has a 50-day moving average of $7.27 and a 200-day moving average of $5.91. The company’s market cap is $196.5 million.

Pixelworks (NASDAQ:PXLW) last released its earnings data on Thursday, May 8th. The company reported ($0.04) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.07) by $0.03. The company had revenue of $13.50 million for the quarter, compared to the consensus estimate of $13.10 million. The company’s quarterly revenue was up 62.7% on a year-over-year basis. Analysts expect that Pixelworks will post $0.14 EPS for the current fiscal year.

Pixelworks, Inc (NASDAQ:PXLW) is a designer, developer and marketer of video and pixel processing semiconductors and software for digital video applications.

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