Market Overview

Lake Street Capital Bullish On Pixelworks, Inc.

Share:

Analysts at Lake Street Capital Markets initiated coverage on Pixelworks, Inc.. (NASDAQ: PXLW) with a Buy rating and $8.50 price target Thursday.

Jaeson Schmidt feels Pixelworks is poised for significant growth as it benefits from rising 4K TV penetration, and the recent introduction of a mobile video processor chip last June.

Analysts estimate $25 million to $30 million in mobile revenue in 2016, excluding any contribution from Apple Inc. Schmidt stated, “Apple is the wildcard in our view. We think of it as a significant call option because it has the potential to be very large, but currently has limited visibility.”

Upside may also be driven by Pixelworks' market share; the company controls 30 to 35 percent of the projector market. Schmidt predicts this number to increase to 50 percent by next year.

Mobile opportunity also presents significant growth potential. With its new processing chip, Pixelworks is able to target electronics with a 5.5" screen and above. Schmidt stated, “we think entry into this market could be transformational for the Company as it expands its addressable market significantly.”

Shares of Pixelworks recently traded at $6.66, down 0.6 percent.

Latest Ratings for PXLW

DateFirmActionFromTo
Nov 2019Lake StreetDowngradesBuyHold
Dec 2015Craig-HallumInitiates Coverage onBuy
Sep 2014Lake StreetInitiates Coverage onBuy

View More Analyst Ratings for PXLW
View the Latest Analyst Ratings

 

Related Articles (PXLW)

View Comments and Join the Discussion!

Posted-In: Jaeson Schmidt Lake Street Capital MarketsAnalyst Color Price Target Initiation Analyst Ratings

Latest Ratings

StockFirmActionPT
ZZZScotiaBankMaintains27.0
FSVScotiaBankMaintains128.0
FNScotiaBankMaintains38.0
CSUScotiaBankMaintains1,600.0
CXOScotiaBankDowngrades43.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com