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Pixelworks (NASDAQ:PXLW) inventory gained 7.9% on Tuesday after the video show processing answer supplier issued This fall adj. earnings steering above estimates in a post-earnings name.
The corporate expects This fall adj. EPS to vary between lack of $0.04 and earnings of $0.01 vs. consensus estimate of -$0.05. Income is projected to be $16M-$18M vs. consensus estimate of $17.17M.
Adj. gross revenue margin is predicted to be 56-58%, reflecting “a extra favorable product combine comprised of an anticipated improve in licensing income and income associated to the tip of lifetime of sure legacy chips bought into the video supply market”, CFO Haley Aman defined.
Pixelworks (PXLW) reported Q3 adj. EPS of -$0.06 vs. -$0.04 in Q3 2021. Income rose 15.8% Y/Y to $17.6M, pushed by robust progress of visible processor options within the cell market in addition to sustained buyer demand and restoration within the projector market.
Pixelworks (PXLW) additionally stated it closed a brand new funding in its Shanghai unit at practically 2x the valuation of the earlier funding spherical, valuing the subsidiary at ~$471.5M.
The corporate ended Q3 with money and money equivalents of $57.6M, which displays $10.7M in web proceeds from closing the deal to switch ~2.7% of its stake in its Shanghai unit to new personal fairness traders.
Shares of Pixelworks (PXLW) fell 68% YTD. The inventory is at excessive threat of performing badly, to the purpose that it will get a Promote score from SA Quant.
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