Pixelworks price target lowered to $10 from $12 at Roth Capital

Roth Capital lowered the firm’s price target on Pixelworks (PXLW) to $10 from $12 and keeps a Buy rating on the shares. The firm expects the company’s new US-based pure play TrueCut’s motion estimation focus to target content services and software/tools licensing opportunity and also believes that Pixelworks has a cash balance that is well above forecast burn to leverage for strategic customer/inorganic opportunities, the analyst tells investors in a research note.