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Roth Captial Raises Pixelworks Estimates


Roth Capital raised its estimate and target on Pixelworks (PXLW), and keeps the buy rating.

Analyst Ian Gilson says Pixelworks beat all estimates in the first quarter and guided to a similar second quarter, which is also above consensus. He says the chipmaker has a good spot in the "under $1,000" (now under $800) projector market where Texas Instruments' digital light processing projectors are too expensive, and the liquid-crystal display models predominate. He notes this is the fastest growing sector in the projector market.

Gilson says advanced TV products like high-definition TV are up 28% sequentially and up 288% year-to-date. He says the software component that's increasingly required for HDTV will boost Pixelworks' margins over time.


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