Pixelworks Receives Positive Rating Update from Analyst

Pixelworks (PXLW) received a Buy rating from Craig-Hallum analyst Richard Shannon. The company's shares closed at $7.16. Shannon has a top 100 analyst ranking with a 36.5% average return and a 54.90% success rate. The analyst consensus is a Strong Buy with an average price target of $13.63. The latest earnings release reported a quarterly revenue of $7.09 million and a GAAP net loss of $7.76 million. There has been a negative sentiment from corporate insiders, with 13 insiders selling shares over the past quarter.