Roth Capital analyst Suji Desilva lowered the firm’s price target on Pixelworks (PXLW) to $12 from $15 and keeps a Buy rating on the shares. The company reported a seasonal Q3 and retracted guidance given the pending close of the sale of the company’s Shanghai subsidiary, the analyst tells investors in a research note. Following the close of the quarter, Pixelworks also announced a transaction to divest its Shanghai business along with a pair of funding events, the firm added.
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