Pixelworks (PXLW)
Market Price (3/13/2026): $5.75 | Market Cap: $31.3 MilSector: Information Technology | Industry: Semiconductors
Pixelworks (PXLW)
Market Price (3/13/2026): $5.75Market Cap: $31.3 MilSector: Information TechnologyIndustry: Semiconductors
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -34% | Weak multi-year price returns2Y Excs Rtn is -114%, 3Y Excs Rtn is -138% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -24 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -72% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -43% | Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 13.97 | Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -39%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -21%, Rev Chg QQuarterly Revenue Change % is -7.9% |
| Megatrend and thematic driversMegatrends include Digital Content & Streaming, and Artificial Intelligence. Themes include Video Streaming, Gaming Content & Platforms, Show more. | Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -59%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -61% | |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -79% | ||
| High stock price volatilityVol 12M is 118% | ||
| Key risksPXLW key risks include [1] a critical cash burn rate threatening near-term solvency, Show more. |
| Cash is significant % of market capNet D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -34% |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -43% |
| Megatrend and thematic driversMegatrends include Digital Content & Streaming, and Artificial Intelligence. Themes include Video Streaming, Gaming Content & Platforms, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -114%, 3Y Excs Rtn is -138% |
| Meaningful short interestShort Interest Days-to-CoverDTC = (Short Interest Share Quantity) / (Average Daily Trading Volume). Reflects how many days it would take to cover (close out) the short interest based on average volumes. High DTC can signify an increased risk of a short squeeze. is 13.97 |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -24 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -72% |
| Weak revenue growthRev Chg LTMRevenue Change % Last Twelve Months (LTM) is -39%, Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -21%, Rev Chg QQuarterly Revenue Change % is -7.9% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -59%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -61% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -79% |
| High stock price volatilityVol 12M is 118% |
| Key risksPXLW key risks include [1] a critical cash burn rate threatening near-term solvency, Show more. |
Qualitative Assessment
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Pixelworks (PXLW) stock has lost about 15% since 11/30/2025 because of the following key factors:
1. Weak Financial Performance from Continuing Operations and Negative Outlook.
Pixelworks reported very low revenue from continuing operations for fiscal year 2025, amounting to $690,000 to $693,000, entirely from its TrueCut Motion platform. This represents a significant reduction compared to prior periods that included semiconductor hardware sales. Furthermore, the company projected negative earnings per share (EPS) for future quarters, with forecasts of -$0.73 for Q1 2026 and -$0.72 for Q2 2026, alongside modest revenue projections of $8.3 million and $8.8 million, respectively. This immediate weak financial outlook following its strategic pivot fueled investor concerns, with the stock falling 2.55% to $6.085 on March 12, 2026, the day the Q4 2025 results were announced.
2. Strategic Transition to a Pure-Play Licensing Model with Associated Uncertainties.
The completion of the sale of Pixelworks' Shanghai semiconductor subsidiary in January 2026, which generated approximately $51 million in net cash proceeds, marked a significant strategic shift to an asset-light technology licensing model focused on its TrueCut Motion platform. While this transaction bolstered the company's cash position (projected to be approximately $58 million by March 31, 2026) and is expected to reduce quarterly operating expenses to about $2 million from Q2 2026, the market is demonstrating uncertainty regarding the scalability of TrueCut Motion licensing revenue and the company's ability to drive significant revenue growth and profitability in this new business structure.
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1. Weak Financial Performance from Continuing Operations and Negative Outlook.
Pixelworks reported very low revenue from continuing operations for fiscal year 2025, amounting to $690,000 to $693,000, entirely from its TrueCut Motion platform. This represents a significant reduction compared to prior periods that included semiconductor hardware sales. Furthermore, the company projected negative earnings per share (EPS) for future quarters, with forecasts of -$0.73 for Q1 2026 and -$0.72 for Q2 2026, alongside modest revenue projections of $8.3 million and $8.8 million, respectively. This immediate weak financial outlook following its strategic pivot fueled investor concerns, with the stock falling 2.55% to $6.085 on March 12, 2026, the day the Q4 2025 results were announced.
2. Strategic Transition to a Pure-Play Licensing Model with Associated Uncertainties.
The completion of the sale of Pixelworks' Shanghai semiconductor subsidiary in January 2026, which generated approximately $51 million in net cash proceeds, marked a significant strategic shift to an asset-light technology licensing model focused on its TrueCut Motion platform. While this transaction bolstered the company's cash position (projected to be approximately $58 million by March 31, 2026) and is expected to reduce quarterly operating expenses to about $2 million from Q2 2026, the market is demonstrating uncertainty regarding the scalability of TrueCut Motion licensing revenue and the company's ability to drive significant revenue growth and profitability in this new business structure.
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Stock Movement Drivers
Fundamental Drivers
The -13.8% change in PXLW stock from 11/30/2025 to 3/12/2026 was primarily driven by a -13.8% change in the company's P/S Multiple.| (LTM values as of) | 11302025 | 3122026 | Change |
|---|---|---|---|
| Stock Price ($) | 6.88 | 5.93 | -13.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 33 | 33 | 0.0% |
| P/S Multiple | 1.1 | 1.0 | -13.8% |
| Shares Outstanding (Mil) | 5 | 5 | 0.0% |
| Cumulative Contribution | -13.8% |
Market Drivers
11/30/2025 to 3/12/2026| Return | Correlation | |
|---|---|---|
| PXLW | -13.8% | |
| Market (SPY) | -2.5% | 23.7% |
| Sector (XLK) | -3.7% | 33.1% |
Fundamental Drivers
The -31.2% change in PXLW stock from 8/31/2025 to 3/12/2026 was primarily driven by a -27.5% change in the company's P/S Multiple.| (LTM values as of) | 8312025 | 3122026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.62 | 5.93 | -31.2% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 34 | 33 | -2.2% |
| P/S Multiple | 1.3 | 1.0 | -27.5% |
| Shares Outstanding (Mil) | 5 | 5 | -2.9% |
| Cumulative Contribution | -31.2% |
Market Drivers
8/31/2025 to 3/12/2026| Return | Correlation | |
|---|---|---|
| PXLW | -31.2% | |
| Market (SPY) | 3.5% | 22.5% |
| Sector (XLK) | 5.2% | 22.3% |
Fundamental Drivers
The -33.1% change in PXLW stock from 2/28/2025 to 3/12/2026 was primarily driven by a -38.7% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 2282025 | 3122026 | Change |
|---|---|---|---|
| Stock Price ($) | 8.86 | 5.93 | -33.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 54 | 33 | -38.7% |
| P/S Multiple | 0.8 | 1.0 | 21.4% |
| Shares Outstanding (Mil) | 5 | 5 | -10.1% |
| Cumulative Contribution | -33.1% |
Market Drivers
2/28/2025 to 3/12/2026| Return | Correlation | |
|---|---|---|
| PXLW | -33.1% | |
| Market (SPY) | 13.1% | 25.5% |
| Sector (XLK) | 22.8% | 26.8% |
Fundamental Drivers
The -69.1% change in PXLW stock from 2/28/2023 to 3/12/2026 was primarily driven by a -52.5% change in the company's Total Revenues ($ Mil).| (LTM values as of) | 2282023 | 3122026 | Change |
|---|---|---|---|
| Stock Price ($) | 19.20 | 5.93 | -69.1% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 70 | 33 | -52.5% |
| P/S Multiple | 1.3 | 1.0 | -22.6% |
| Shares Outstanding (Mil) | 5 | 5 | -16.0% |
| Cumulative Contribution | -69.1% |
Market Drivers
2/28/2023 to 3/12/2026| Return | Correlation | |
|---|---|---|
| PXLW | -69.1% | |
| Market (SPY) | 74.3% | 25.5% |
| Sector (XLK) | 106.0% | 23.1% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| PXLW Return | 56% | -60% | -26% | -44% | -27% | -4% | -82% |
| Peers Return | 42% | -15% | 60% | 30% | 13% | 8% | 211% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | -1% | 80% |
Monthly Win Rates [3] | |||||||
| PXLW Win Rate | 42% | 33% | 33% | 33% | 42% | 33% | |
| Peers Win Rate | 53% | 40% | 57% | 50% | 53% | 47% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 33% | |
Max Drawdowns [4] | |||||||
| PXLW Max Drawdown | -4% | -69% | -40% | -53% | -45% | -10% | |
| Peers Max Drawdown | -15% | -42% | -12% | -17% | -32% | -11% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -2% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: QCOM, FSLR, SLAB, POWI, NVDA.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 3/12/2026 (YTD)
How Low Can It Go
| Event | PXLW | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -86.3% | -25.4% |
| % Gain to Breakeven | 631.1% | 34.1% |
| Time to Breakeven | Not Fully Recovered days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -62.4% | -33.9% |
| % Gain to Breakeven | 165.6% | 51.3% |
| Time to Breakeven | 292 days | 148 days |
| 2018 Correction | ||
| % Loss | -60.8% | -19.8% |
| % Gain to Breakeven | 154.8% | 24.7% |
| Time to Breakeven | 978 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -94.8% | -56.8% |
| % Gain to Breakeven | 1829.7% | 131.3% |
| Time to Breakeven | 1,826 days | 1,480 days |
Compare to QCOM, FSLR, SLAB, POWI, NVDA
In The Past
Pixelworks's stock fell -86.3% during the 2022 Inflation Shock from a high on 8/31/2021. A -86.3% loss requires a 631.1% gain to breakeven.
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About Pixelworks (PXLW)
Pixelworks, Inc. develops and markets semiconductor and software solutions. The company provides video display processor products comprises image processor ICs, such as embedded microprocessors, digital signal processing technology, and software that control the operations and signal processing within high-end display systems; video co-processor ICs that work with an image processor to post-process video signals to enhance the performance or feature set of the overall video solution; and transcoder ICs, such as embedded microprocessors, digital signal processing technology, and software that control the operations and signal processing for converting bitrates, resolutions, and codecs. As of December 31, 2021, it had an intellectual property portfolio of 335 patents related to the visual display of digital image data. The company's products are used in smartphones, tablets, and projectors. It serves in Japan, China, Taiwan, the United States, Europe, and Korea through a direct sales force, as well as distributors and manufacturers' representatives. The company was incorporated in 1997 and is based in Portland, Oregon.
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- Iris Visual Processors: These are integrated circuits and software intellectual property designed to enhance the visual quality, color accuracy, and smooth motion on smartphone and tablet displays.
- Projector and Large Display Processors: These specialized integrated circuits provide advanced image processing, scaling, and warping capabilities for professional projectors, medical displays, and video walls.
- TrueCut Motion Platform: This platform comprises hardware and software intellectual property aimed at delivering a superior and consistent cinematic motion experience from content creation to display.
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Pixelworks (PXLW) Major Customers
Pixelworks (PXLW) primarily sells its video processing semiconductors and software to other companies, operating on a Business-to-Business (B2B) model. Their customers are typically Original Equipment Manufacturers (OEMs) and Original Design Manufacturers (ODMs) that integrate Pixelworks' technology into their consumer electronics and display products.
According to Pixelworks' annual reports (10-K filings), a significant portion of their revenue has historically come from a limited number of customers (i.e., customers individually accounting for 10% or more of total revenue). However, due to confidentiality agreements and competitive reasons, Pixelworks does not publicly disclose the names of these specific major customers in their financial filings.
Despite the non-disclosure of their largest revenue-contributing customers, Pixelworks frequently announces partnerships and design wins for its display processing technologies in various devices. These partnerships provide insight into the types of companies that are their customers and integrate their solutions. Examples of companies that have incorporated Pixelworks technology into their products include, but are not limited to, manufacturers in the following categories:
- Smartphone Manufacturers: Companies producing high-end and gaming smartphones often integrate Pixelworks' Iris visual processors for enhanced display quality, motion processing, and color accuracy. Examples of brands that have featured Pixelworks technology in their devices include:
- OnePlus (private company, part of BBK Electronics)
- ASUS (TAIEX: 2357.TW) - particularly for its ROG (Republic of Gamers) phones
- Xiaomi (HKEX: 1810) - often through sub-brands like Black Shark, or direct integrations
- Projector Manufacturers: Pixelworks provides solutions for digital projectors, improving image quality, color, and dynamic range. A historical partner in this space includes:
- Epson (TYO: 6724)
- Other Display-Centric Device Manufacturers: This category can include manufacturers of advanced televisions, monitors, virtual reality (VR), and augmented reality (AR) headsets, although specific names for these segments are less frequently highlighted publicly for Pixelworks.
It is important to reiterate that while the companies listed above are known to be customers or partners that have utilized Pixelworks' technology, they are examples of Pixelworks' customer base and not necessarily the specific, undisclosed "major customers" responsible for 10% or more of Pixelworks' annual revenue as reported in their 10-K filings.
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- Taiwan Semiconductor Manufacturing Company Limited (TSM)
- Amkor Technology, Inc. (AMKR)
- United Microelectronics Corporation (UMC)
- ASE Technology Holding Co., Ltd. (ASX)
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Todd DeBonis, President & Chief Executive Officer
Todd DeBonis joined Pixelworks in January 2016 as Executive Vice President, Sales, Marketing & Business Development, and was promoted to Chief Operating Officer in February 2016, and then to President & Chief Executive Officer in April 2016. Prior to Pixelworks, he served as Vice President of Global Sales & Strategic Development at TriQuint Semiconductor (NASDAQ: TQNT) from 2004 to 2015, where he was a key contributor to the company's growth. He also held positions as Vice President of Worldwide Sales & Marketing at Centillium Communications (NASDAQ: CTLM), Vice President of Worldwide Sales at Ishoni Networks, and executive roles at Infineon Technologies, VisCom Corporation, and Electec SoCal. Mr. DeBonis holds a B.S.E.E. from the University of Nevada.
Haley Aman, Chief Financial Officer
Haley Aman was appointed Chief Financial Officer of Pixelworks in January 2022. Since joining the company in 2011, she previously served in various financial leadership capacities, including Vice President of Finance, Corporate Controller, and Assistant Controller. Before her tenure at Pixelworks, Ms. Aman spent over five years in Audit and Enterprise Risk Services at Deloitte & Touche LLP. She holds a Bachelor of Science in Accounting from the University of Oregon and a Bachelor of Science in Finance from Portland State University, and is a Certified Public Accountant in Oregon.
Tzoyao (“T”) Chan, Executive Vice President, Engineering
“T” Chan joined Pixelworks in January 2009 as Senior Vice President, Engineering and was promoted to Executive Vice President, Engineering in July 2011.
Sean Keohane, Executive Vice President, Business Development and Operations
Sean Keohane joined Pixelworks in September 2019 as Vice President of Business Development and was promoted to Executive Vice President of Business Development and Operations in January 2021. Before Pixelworks, he served as Senior Vice President Sales & Business Development for Mediatek’s subsidiary, Nephos, Inc., from 2016 to 2019. From 2012 to 2015, he was Senior Vice President of Worldwide Sales & Business Development for Marvell Semiconductor.
Richard Miller, Executive Vice President, Technology and General Manager TrueCut
Richard Miller serves as the Executive Vice President, Technology and General Manager TrueCut at Pixelworks.
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The key risks to Pixelworks' (PXLW) business are:
- Financial Instability and Cash Burn: Pixelworks is currently unprofitable and is not projected to achieve profitability within the next three years. The company has a significant cash burn rate relative to its market capitalization, with a cash runway estimated to be approximately seven months as of June 2025. This situation indicates an urgent need to either substantially reduce its cash expenditure or secure additional financing in the near term. Operating losses and strategic investments have led to a decline in cash reserves. The company's financial stability is further jeopardized by expenses related to a pending sale, which will be incurred regardless of the sale's completion, and the uncertainty surrounding a potential $5 million termination fee.
- Market Competition and Fluctuating Revenue: Pixelworks' success is highly dependent on its ability to meet the evolving demands of its target markets (Mobile, Home & Enterprise, and Cinema), introduce new products, services, or technologies, and effectively compete. The company's revenue and operating results have historically fluctuated and may continue to do so due to factors beyond its control, such as the timing and cancellation of customer orders, market acceptance of its products, and product development costs. The mobile market has been flat, and design wins for new smartphones have experienced delays. Overall, Pixelworks is positioned for weaker revenue growth compared to the broader industry.
- Risks Associated with Pixelworks Shanghai (PWSH) and Strategic Transition: Pixelworks has cited geopolitical tensions and constrained capital markets in China as reasons for the sale of its Pixelworks Shanghai (PWSH) subsidiary. Prior to this, PWSH's status as a private company in China, controlled but not wholly owned by Pixelworks, presented risks due to potentially diverging interests and conflicts of interest. The planned strategic shift, post-sale, to a pure-play technology licensing company focused on cinematic visualization and its TrueCut Motion platform, introduces execution risks related to the success of this new business model.
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The increasing trend among major smartphone manufacturers to develop their own highly integrated custom system-on-chips (SoCs) that include sophisticated in-house visual and display processing IP, exemplified by Google's Tensor chip, Apple's A-series, and Samsung's Exynos, poses a clear emerging threat by potentially reducing the market for third-party specialized display processor solutions like those offered by Pixelworks.
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Pixelworks (PXLW) participates in several addressable markets for its main products and services, primarily focusing on visual display processing semiconductors and software. The key markets and their estimated sizes are as follows:
- Mobile Display Market (Smartphones and Tablets): The global display market, which includes mobile displays for smartphones and tablets where Pixelworks' Iris mobile display processors and visual processors are utilized, was valued at approximately USD 148.4 billion in 2021. It is projected to grow to over USD 177.1 billion by 2026, with a Compound Annual Growth Rate (CAGR) of 3.6% from 2021. Pixelworks holds a significant position in specialized niches within this market, particularly in segments requiring advanced video processing capabilities for gaming and streaming.
- Projector Market: For its projector display processing solutions, Pixelworks addresses a market segment exemplified by interactive projectors. The global interactive projector market size was estimated at USD 4.51 billion in 2024 and is forecast to reach USD 20.16 billion by 2033, demonstrating a CAGR of 17.20% from 2025-2033. North America is a dominant region in this market, holding over 39.5% of the market share in 2024. Another estimate indicates the global interactive projector market size was USD 2.49 billion in 2022 and is expected to reach USD 11.93 billion by 2030, with a CAGR of 21.4% from 2023 to 2030.
- Video Processing Platform Market (Video Delivery, OTA/OTT Streaming, Consumer Electronics, Video Infrastructure): The global video processing platform market, relevant to Pixelworks' SoC solutions for consumer electronics and advanced media processing, was estimated at USD 7.73 billion in 2024. This market is projected to grow to USD 19.35 billion by 2033, at a CAGR of 10.9% from 2025 to 2033. Another projection shows the market growing from USD 9.8 billion in 2025 to USD 49.7 billion by 2035, with a CAGR of 17.6%. North America held the largest revenue share in this global market, accounting for 40.2% in 2024.
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Here are 3-5 expected drivers of future revenue growth for Pixelworks (PXLW) over the next 2-3 years:-
Expansion of TrueCut Motion Platform
Pixelworks anticipates significant revenue growth from the continued expansion of its TrueCut Motion platform. The company plans to double the number of TrueCut titles year-over-year from 5 in 2024 to 10 in 2025, and has formalized a strategic partnership with a leading post-production company to broaden the platform's ecosystem and accessibility. Additionally, Pixelworks has completed rigorous device certification with a brand, which is expected to facilitate the introduction of TrueCut Motion to mass-market home entertainment devices, alongside its presence in premium large-format theaters. -
Growth in Mobile Visual Processors and IRX Gaming Ecosystem
The mobile segment is expected to contribute to future revenue growth through the increased adoption of Pixelworks' X-series visual processors, including newer generations such as the X7 Gen 2. Despite facing recent headwinds, the company is focusing on transitioning to new visual processing solutions, including a low-cost graphics accelerator targeting mid and entry-level smartphones. Furthermore, the expansion of the IRX branded gaming experience and ecosystem is expected to drive increased demand for their mobile visual processors. -
Increased Penetration in the Home and Enterprise Market
Pixelworks anticipates continued revenue contributions and growth from its Home and Enterprise market segment. Recent performance has shown sequential increases in this area, driven by product shipments. The development of new co-development projector System-on-Chips (SoCs) and other display solutions are expected to maintain momentum and capture further market share in this segment. -
New Revenue from ASIC Design Services and IP Licensing
Pixelworks is exploring and actively pursuing new revenue streams through ASIC (Application-Specific Integrated Circuit) design services and IP (Intellectual Property) licensing. The company is in advanced discussions with a large international OEM for these services, with potential contributions to revenue expected as early as the third quarter of 2025.
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Share Issuance
- In October 2025, Pixelworks announced a registered direct offering for 666,667 shares of common stock at $10.50 per share, with expected gross proceeds of approximately $7 million. The net proceeds are designated for working capital and general corporate purposes.
- In March 2025, Pixelworks agreed to issue and sell 1,970,106 shares of common stock at $0.736 per share in a registered direct offering, anticipating gross proceeds of approximately $1.45 million before deducting offering expenses.
- Effective June 9, 2025, Pixelworks implemented a one-for-twelve (1-12) reverse stock split of its common stock.
Inbound Investments
- During the second quarter of 2025, Pixelworks' Shanghai subsidiary received $1.6 million in cash subsidies through China's "Little Giant" program.
Outbound Investments
- In October 2025, Pixelworks entered into a definitive agreement to sell its controlling stake in Pixelworks Semiconductor Technology (Shanghai) to a buyer led by VeriSilicon. The transaction values the subsidiary at RMB 950 million (approximately $133 million USD), with Pixelworks expecting to receive between $50 million and $60 million in cash at closing after accounting for share transfers, transaction costs, and China withholding taxes. This sale requires approval from holders of 67% of Pixelworks common stock and is targeted to close by the end of 2025.
- In October 2025, the company sold 37 patents and related rights to an unrelated third party for $3.0 million, anticipating an approximate $3.0 million gain in the fourth quarter of 2025. The patents, acquired from ViXS Systems, Inc. in 2017, pertain to markets Pixelworks no longer pursues.
Capital Expenditures
- Specific dollar values for capital expenditures, along with their primary focus and expected capital expenditures for the upcoming year, were not explicitly detailed in the available search results for the last 3-5 years.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Pixelworks Earnings Notes | 12/16/2025 | |
| How Low Can Pixelworks Stock Really Go? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 157.14 |
| Mkt Cap | 13.9 |
| Rev LTM | 3,002 |
| Op Inc LTM | 804 |
| FCF LTM | 637 |
| FCF 3Y Avg | 48 |
| CFO LTM | 1,084 |
| CFO 3Y Avg | 689 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 17.2% |
| Rev Chg 3Y Avg | -1.3% |
| Rev Chg Q | 8.1% |
| QoQ Delta Rev Chg LTM | 2.3% |
| Op Mgn LTM | 14.8% |
| Op Mgn 3Y Avg | 15.5% |
| QoQ Delta Op Mgn LTM | 1.3% |
| CFO/Rev LTM | 28.6% |
| CFO/Rev 3Y Avg | 24.3% |
| FCF/Rev LTM | 21.2% |
| FCF/Rev 3Y Avg | 7.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 13.9 |
| P/S | 4.9 |
| P/EBIT | 11.8 |
| P/E | 20.0 |
| P/CFO | 16.6 |
| Total Yield | 2.7% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 1.0% |
| D/E | 0.0 |
| Net D/E | -0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -2.5% |
| 3M Rtn | -4.2% |
| 6M Rtn | -0.1% |
| 12M Rtn | 16.5% |
| 3Y Rtn | 8.3% |
| 1M Excs Rtn | -0.1% |
| 3M Excs Rtn | -4.8% |
| 6M Excs Rtn | -3.6% |
| 12M Excs Rtn | -6.8% |
| 3Y Excs Rtn | -65.8% |
Price Behavior
Price Behavior
| Market Price | $5.93 | |
| Market Cap ($ Bil) | 0.0 | |
| First Trading Date | 05/19/2000 | |
| Distance from 52W High | -61.1% | |
| 50 Days | 200 Days | |
| DMA Price | $6.30 | $7.75 |
| DMA Trend | indeterminate | down |
| Distance from DMA | -5.9% | -23.5% |
| 3M | 1YR | |
| Volatility | 51.2% | 118.7% |
| Downside Capture | 170.69 | 200.39 |
| Upside Capture | 143.62 | 137.91 |
| Correlation (SPY) | 23.0% | 24.3% |
PXLW Betas & Captures as of 2/28/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 1.25 | 0.45 | 0.97 | 2.25 | 1.54 | 1.47 |
| Up Beta | 1.68 | -0.22 | -0.39 | 1.12 | 1.08 | 0.91 |
| Down Beta | 0.81 | -0.98 | -0.00 | 1.56 | 1.85 | 1.77 |
| Up Capture | 119% | 116% | 156% | 217% | 166% | 187% |
| Bmk +ve Days | 9 | 20 | 31 | 70 | 142 | 431 |
| Stock +ve Days | 8 | 16 | 25 | 52 | 111 | 319 |
| Down Capture | 135% | 146% | 191% | 236% | 145% | 112% |
| Bmk -ve Days | 12 | 21 | 30 | 54 | 109 | 320 |
| Stock -ve Days | 13 | 25 | 36 | 72 | 139 | 398 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PXLW | |
|---|---|---|---|---|
| PXLW | -19.7% | 118.7% | 0.38 | - |
| Sector ETF (XLK) | 33.1% | 26.8% | 1.04 | 25.6% |
| Equity (SPY) | 21.0% | 18.9% | 0.87 | 24.3% |
| Gold (GLD) | 74.9% | 26.2% | 2.12 | 4.8% |
| Commodities (DBC) | 19.3% | 17.2% | 0.89 | 13.1% |
| Real Estate (VNQ) | 5.7% | 16.3% | 0.16 | 11.6% |
| Bitcoin (BTCUSD) | -16.1% | 44.2% | -0.27 | 18.0% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PXLW | |
|---|---|---|---|---|
| PXLW | -31.5% | 83.9% | -0.07 | - |
| Sector ETF (XLK) | 17.3% | 24.7% | 0.63 | 30.9% |
| Equity (SPY) | 13.2% | 17.0% | 0.61 | 31.7% |
| Gold (GLD) | 24.2% | 17.3% | 1.14 | 6.5% |
| Commodities (DBC) | 10.9% | 19.0% | 0.46 | 9.6% |
| Real Estate (VNQ) | 5.0% | 18.8% | 0.17 | 19.9% |
| Bitcoin (BTCUSD) | 7.3% | 56.8% | 0.35 | 17.5% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with PXLW | |
|---|---|---|---|---|
| PXLW | -13.7% | 74.3% | 0.14 | - |
| Sector ETF (XLK) | 22.0% | 24.2% | 0.83 | 32.4% |
| Equity (SPY) | 14.7% | 17.9% | 0.70 | 31.9% |
| Gold (GLD) | 14.6% | 15.6% | 0.77 | 6.3% |
| Commodities (DBC) | 8.8% | 17.6% | 0.41 | 11.8% |
| Real Estate (VNQ) | 5.5% | 20.7% | 0.23 | 20.9% |
| Bitcoin (BTCUSD) | 66.7% | 66.8% | 1.06 | 12.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 11/12/2025 | 2.5% | -2.7% | -4.9% |
| 8/12/2025 | 5.2% | -14.5% | 30.8% |
| 5/13/2025 | -4.9% | -11.0% | -26.1% |
| 2/12/2025 | -0.4% | 6.3% | -21.5% |
| 11/12/2024 | 18.3% | 6.4% | 18.3% |
| 8/7/2024 | 5.3% | -4.1% | -22.5% |
| 5/14/2024 | -35.3% | -41.7% | -45.7% |
| 2/8/2024 | -1.8% | 15.6% | 26.7% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 14 | 11 | 9 |
| # Negative | 9 | 12 | 14 |
| Median Positive | 8.2% | 6.9% | 23.4% |
| Median Negative | -7.8% | -11.7% | -21.0% |
| Max Positive | 18.3% | 21.6% | 54.5% |
| Max Negative | -35.3% | -41.7% | -45.7% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 09/30/2025 | 11/12/2025 | 10-Q |
| 06/30/2025 | 08/13/2025 | 10-Q |
| 03/31/2025 | 05/14/2025 | 10-Q |
| 12/31/2024 | 03/13/2025 | 10-K |
| 09/30/2024 | 11/12/2024 | 10-Q |
| 06/30/2024 | 08/12/2024 | 10-Q |
| 03/31/2024 | 05/14/2024 | 10-Q |
| 12/31/2023 | 03/13/2024 | 10-K |
| 09/30/2023 | 11/07/2023 | 10-Q |
| 06/30/2023 | 08/08/2023 | 10-Q |
| 03/31/2023 | 05/09/2023 | 10-Q |
| 12/31/2022 | 03/08/2023 | 10-K |
| 09/30/2022 | 11/08/2022 | 10-Q |
| 06/30/2022 | 08/10/2022 | 10-Q |
| 03/31/2022 | 05/10/2022 | 10-Q |
| 12/31/2021 | 03/09/2022 | 10-K |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Aman, Haley F | Chief Financial Officer | Direct | Sell | 8202025 | 8.56 | 1,173 | 10,041 | 372,899 | Form |
| 2 | Debonis, Todd | President and CEO | Direct | Sell | 8202025 | 8.56 | 1,467 | 12,558 | 1,473,065 | Form |
| 3 | Aman, Haley F | Chief Financial Officer | Direct | Sell | 5202025 | 0.52 | 15,786 | 8,239 | 280,167 | Form |
| 4 | Aman, Haley F | Chief Financial Officer | Direct | Sell | 2192025 | 0.85 | 48,854 | 41,668 | 300,739 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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