Pixelworks: Pump Up the Volume

PORTLAND, Ore. (TheStreet) -- Pixelworks (PXLW Quote) shares tumbled Tuesday on above-average volume after the company swung to a third-quarter loss.

Pixelworks said it lost $890,000, or 7 cents a share, in the third quarter, compared to a year-ago profit of $8.2 million, or 56 cents a share. Adjusted earnings totaled a penny a share, the high-end television chipmaker said. Revenue fell 22% from a year ago to $16.7 million, and the company did forecast fourth-quarter sales of $17 million to $19 million.

Shares of Pixelworks were falling by 71 cents, or 17.6%, to $3.33. Earlier in the session, the stock touched an intraday low of $3.05. More than 586,000 shares changed hands by 3:15 p.m. EDT Tuesday, compared to the stock's three-month average daily volume of 265,000, according to the Nasdaq.

Pixelworks has a 11.8 million-share float with a short interest float of 0.3% as of Sept. 25, according to Yahoo! Finance. More than 14% of the company's shares are held by insiders with another 27.4% owned by institutions.

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-- Written by Robert Holmes in New York.