SKYT - Pixelworks led gainers IPG top decliner among semiconductor stocks in August
Video chipmaker Pixelworks (NASDAQ:PXLW) shares more than doubled in the past month with higher than average trading volume and a $3.1 million equity investment from Canaan among the catalysts. The company also reported second-quarter results that topped Wall Street estimates with revenue up 51% year-over-year to $14.05 million and the $0.05 adjusted loss per share coming in two cents better than expected. SkyWater Technology (NASDAQ:SKYT) reported second-quarter results that missed analyst estimates but earnings was more than offset when Morgan Stanley picked up 4,670 shares of the company at a value of $130,000. The silicon foundry is nearing the end of the month trading up nearly 81%. IPG Photonics (NASDAQ:IPGP) shares crashed in early August after second-quarter misses and a downside forecast. A downgrade from Buy to Neutral at Citi followed, citing slowing demand in China. The company is ending the month down 21%. Magnachip (NYSE:MX) fell 14% for the month
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Pixelworks led gainers, IPG top decliner among semiconductor stocks in August