Pixelworks price target raised to $20 from $10 at Roth Capital

Roth Capital raised the firm’s price target on Pixelworks (PXLW) to $20 from $10 and keeps a Buy rating on the shares. The company’s egistered direct offering improves its domestic funding position ahead of potentially planned strategic actions with its Shanghai subsidiary, the analyst tells investors in a research note. The firm sees the added funding supporting advancement of Pixelworks’ U.S.-based TrueCut motion customer development and licensing efforts. It is encouraged by the company’s execution post the capital raise.