Pixelworks: Something More Than Meets the Eye?

There appears to be more to PXLW's jump from $5 to $9 than has been made public

   
Pixelworks: Something More Than Meets the Eye?

Pixelworks (PXLW) — This company designs, develops, and markets video and pixel-processing semiconductors and software for high-end digital video applications. The company reported Q4 earnings on Feb. 6 of $0.05 per share, compared with a net loss of $0.15 a year ago, but missed estimates by a penny.

On Feb. 19, Pixelworks announced that it will demonstrate its industry-leading mobile video technology at the influential Mobile World Congress. This is the same core technology that it showcased at the Consumer Electronics Show (CES) in January on Ultra HD TVs. Therefore, management seems to feel it has relevance across a wide array of platforms and screen sizes.

I first covered this speculative small-cap growth stock on Feb. 20, at just over $5, based on positive technical analysis from our Profit Scanner tool. Without it, I probably would have overlooked the bullish continuation diamonds shown on the chart.

The stock popped to a 52-week high of $9.05 on March 6, but has since retreated to $5.45, succumbing to high-volume profit-taking and rumors that the company will miss earnings estimates.

Let’s watch PXLW for further news since there appears to be more to the jump from $5 to $9 than has been made public.

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chart key 300x84 Pixelworks: Something More Than Meets the Eye?


Article printed from InvestorPlace Media, http://investorplace.com/2014/03/trade-day-pixelworks-pxlw-2/.

©2014 InvestorPlace Media, LLC

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