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Pixelworks, Inc. (PXLW)

  • Tue, Sep. 8, 10:57 AM
    • Vague rumors that Pixelworks (NASDAQ:PXLW) has landed a design win for Apple's expected iPad Pro appear to have given a lift to shares. The Nasdaq is up 1.6%.
    • Apple is expected to show off the Pro, rumored to have a 12.9" display, at its Wednesday event. Pixelworks has said it plans to start mass-production for its Iris mobile video processor in Q3, and that a second-gen Iris chip is sampling.
    | Tue, Sep. 8, 10:57 AM | 4 Comments
  • Fri, Aug. 7, 6:58 PM
    • Pixelworks (NASDAQ:PXLW) closed at $4.76 today after pricing its stock offering (first announced yesterday afternoon) at $4.75, nearly 14% below Thursday's close.
    • 3.25M shares are being sold, with the underwriter having a 487.5K-share overallotment option. Not counting the overallotment option, gross proceeds are set to total $15.4M.
    | Fri, Aug. 7, 6:58 PM | Comment!
  • Fri, Aug. 7, 9:14 AM
    | Fri, Aug. 7, 9:14 AM | Comment!
  • Thu, Aug. 6, 5:36 PM
    | Thu, Aug. 6, 5:36 PM | Comment!
  • Thu, Aug. 6, 4:48 PM
    • Pixelworks (NASDAQ:PXLW) plans a public stock offering of yet-undisclosed size and pricing. Uses for net proceeds "may include, among other things, increasing our working capital, financing of ongoing operating expenses and overhead, and funding of capital expenditures, such as the continued development of solutions for the digital projector, digital television, and mobile device markets."
    • The video processor developer had $14.4M in cash at the end of Q2, and $3M in short-term credit lines. Shares have tumbled to $4.80 in AH trading.
    | Thu, Aug. 6, 4:48 PM | 3 Comments
  • Fri, Jul. 31, 9:54 AM
    • Pixelworks (NASDAQ:PXLW) followed up its slight Q2 beat by guiding on its earnings call (transcript) for Q3 revenue of $16M-$18M and EPS of -$0.01 to -$0.10, in-line with a consensus of $17.1M and -$0.04.
    • CEO Bruce Walicek stated projector design win activity remained strong for Pixelworks' Topaz video processors, and that mass-production of its Iris mobile video processor is expected to start in Q3. A next-gen Iris chip is sampling.
    • Projector-related chip sales rose in Q2, while TV/panel-related chip sales fell. Gross margin fell to 48.3% from Q1's 48.8% and Q2 2014's 51%; Q3 GM guidance is at 48%-50%. Operating expenses fell by $400K Q/Q and rose by $100K Y/Y to $8.8M.
    • Q2 results, PR
    | Fri, Jul. 31, 9:54 AM | 3 Comments
  • Thu, Jul. 30, 4:08 PM
    • Pixelworks (NASDAQ:PXLW): Q2 EPS of -$0.08 beats by $0.01.
    • Revenue of $15.08M (-0.6% Y/Y) beats by $0.25M.
    • Press Release
    | Thu, Jul. 30, 4:08 PM | Comment!
  • Mon, Jun. 8, 12:49 PM
    | Mon, Jun. 8, 12:49 PM | 26 Comments
  • Fri, Jun. 5, 12:47 PM
    | Fri, Jun. 5, 12:47 PM | 9 Comments
  • Wed, Jun. 3, 12:45 PM
    | Wed, Jun. 3, 12:45 PM | 2 Comments
  • Tue, Jun. 2, 9:21 AM
    | Tue, Jun. 2, 9:21 AM | 7 Comments
  • Mon, Jun. 1, 12:00 PM
    • Asus (OTC:ASUUY) is using Pixelworks' (NASDAQ:PXLW) Iris mobile video processor in its new Hero ZenPad tablet. The companies appear to be referring to Asus' ZenPad S 8.0, an 8" Android tablet that was unveiled this morning at the Computex trade show; it has a 2048x1536 resolution and quad-core Intel Atom CPU.
    • Asus/Pixelworks also state the ZenPad is "the world's first tablet to incorporate Pixelworks' True Clarity display enhancements," and claim True Clarity integration allows the device to provide blur-free video, cleaner/sharper images, and automatic lighting compensation.
    • Pixelworks has surged to its highest levels since early March. The company stated during its April 30 Q1 CC it had landed new Iris design wins; a second-gen version of the processor is expected to enter mass-production by year's end.
    | Mon, Jun. 1, 12:00 PM | Comment!
  • Wed, May 20, 1:48 PM
    • Pixelworks (NASDAQ:PXLW) has surged on volume of 505K shares (far above a 3-month daily average of 188K). No news has yet hit the wires to explain the move.
    • The video processor developer has recovered the losses seen 3 weeks ago after it posted a Q1 miss and issued soft Q2 guidance. Shares go for 1.6x 2015E sales and 1.3x 2016E sales.
    | Wed, May 20, 1:48 PM | 6 Comments
  • Thu, Apr. 30, 7:26 PM
    • In addition to missing Q1 estimates, Pixelworks (NASDAQ:PXLW) guided on its CC (webcast) for Q2 revenue of $14M-$15M and EPS of -$0.04 to -$0.14, below a consensus of $18.1M and -$0.01.
    • The continued ramp of projector SoC shipments to Pixelworks' co-development project partner is expected to be offset by a "temporary shift in order patterns" at other projector clients. New designs were seen in Q1 for Pixelworks' Iris mobile video processor; a second-gen Iris chip is expected to enter mass-production by year's end.
    • Q1 chip sales rose 35% Y/Y to $14.4M; Pixelworks thinks it gained projector chip share. Licensing revenue was "negligible." Gross margin (non-GAAP) was 48.8% vs. 50.3% in Q4 and 60.1% a year ago; the Y/Y drop has to do with a mix shift towards chip revenue. Q2 GM guidance is at 48%-50%
    • GAAP operating.expenses fell by $200K Y/Y to $10.2M - $6.3M was spent on R&D, and $3.9M on SG&A. Pixelworks ended Q1 with $15.6M in cash, and a $3M short-term credit line.
    • Shares have fallen to $4.00 AH.
    • Q1 results, PR.
    | Thu, Apr. 30, 7:26 PM | 1 Comment
  • Thu, Apr. 30, 4:11 PM
    • Pixelworks (NASDAQ:PXLW): Q1 EPS of -$0.10 misses by $0.02.
    • Revenue of $14.39M (+6.3% Y/Y) misses by $0.61M.
    • Press Release
    | Thu, Apr. 30, 4:11 PM | 3 Comments
  • Mon, Apr. 20, 3:12 PM
    • With the Nasdaq up 1.3%, many tech companies are posting big gains, and only a few are seeing major losses.
    • Notable gainers include audio codec chipmaker Cirrus Logic (CRUS +4%), gaming headset maker Turtle Beach (HEAR +11.4%), video processor developer Pixelworks (PXLW +6%), U.S. solar installer Vivint (VSLR +5.4%), CDN owner Limelight (LLNW +5.9%), cloud revenue management software firm ServiceSource (SREV +4.9%), language software firm Rosetta Stone (RST +4.6%), and storage hardware maker Quantum (QTM +5.3%).
    • Notable decliners include craft goods marketplace/recent IPO Etsy (ETSY -8%) and touch sensor developer UniPixel (UNXL -12.2%).
    • Cirrus, a major beneficiary of strong iPhone 6 sales, has made fresh 52-week highs; the company reports on April 28, a day after Apple. Beaten-down Turtle Beach is up 52% from an early April low of $1.85; new executive hires and product launches might be helping. Quantum (also making new 52-week highs) is up 38% since pre-announcing strong March quarter sales on April 9. Pixelworks reports on April 30.
    • Etsy is now down 18% from last Thursday's post-IPO opening trade of $31.00, as investors balance strong growth and a fervently loyal user base with steep multiples; shares are still up 60% from their $16 IPO price. Likewise, UniPixel is down 18% since announcing a deal to buy Atmel's XSense touch sensor assets on Friday morning.
    • Previously covered: Microsoft, Manhattan Associates, Ascent Solar, Check Point/FireEye, Rovi, FARO Technologies
    | Mon, Apr. 20, 3:12 PM | Comment!
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Company Description
Pixelworks Inc designs, develops & markets video & pixel processing semiconductors, intellectual property cores, software & custom ASIC solutions for digital video applications. Itsproducts can be used in a various devices.