Pixelworks price target lowered to $3 from $4 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on Pixelworks to $3 from $4 and keeps a Buy rating on the shares. Pixelworks’ inventory burn at its largest Mobile customer and delayed next-gen product family release is a substantial hit to its growth and profitability plans this year, effectively pushing these timeframes out by a couple of quarters, the firm says.