Roth Capital lowered the firm’s price target on Pixelworks (PXLW) to $15 from $20 and keeps a Buy rating on the shares. The company announced the divestiture of its Shanghai subsidiary to a Chinese semiconductor company in an all-cash transaction, and the firm expects the incremental funds to support the advancement of the company’s US-based TrueCut motion customer development and licensing efforts, the analyst tells investors in a research note.
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