PixArt Imaging Inc. (3227) AI Stock Analysis

PixArt Imaging Inc.

(TPEx:3227)

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Rating:77Outperform

Price Target:TWD 194.00▲(10.54% Upside)

Action:initiatedcoverage

Date:11/10/26

Strong financial performance is the primary support, driven by a robust balance sheet and excellent cash conversion. Reasonable valuation and a high dividend yield add support, but the stock's position below all major moving averages and negative MACD materially reduce the score. Oversold momentum indicators provide only limited technical offset.

Positive Factors

High ProfitabilityPersistently strong gross, operating, and net margins indicate PixArt retains meaningful value from its imaging and sensing designs. This profitability provides internal funding for research, product development, and customer support while offering resilience when semiconductor demand softens.

Negative Factors

Revenue ContractionThe sharp 2025 revenue decline shows that PixArt’s growth is not yet consistently compounding. Uneven demand can reduce operating leverage, make investment planning harder, and leave future earnings dependent on a recovery in semiconductor and imaging-device activity.

PixArt Imaging Inc. (3227) vs. SPDR S&P 500 ETF (SPY)

Market Cap: TWD 26.43B
Dividend Yield: 5.70%
Average Volume (3M): 743.26K
Price to Earnings (P/E): 13.7
Beta (1Y): 1.11
Revenue Growth: 4.58%
EPS Growth: -1.46%
Country: TW
Employees: 241
Sector: General
Sector Strength: 55
Industry: Semiconductors

PixArt Imaging Inc. Business Overview & Revenue Model

Company Description

PixArt Imaging Inc., together with its subsidiaries, researches, designs, produces, and sells CMOS image sensors and related ICs in Taiwan and internationally. The company offers optical mouse, tracking, and finger navigation sensors, as well as opti...

PixArt Imaging Inc. Financial Statement Overview

Summary

Strong profitability, excellent balance-sheet strength, minimal leverage, and very strong recent cash generation support a high score. Revenue volatility, the 2025 decline, modest margin pressure, and historical cash-flow volatility are the main weaknesses.

Income Statement

82Very Positive

Balance Sheet

95Very Positive

Cash Flow

91Very Positive

Financial statement breakdown
Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	9.25B	9.13B	8.36B	5.84B	5.23B	8.80B
Gross Profit	5.34B	5.53B	5.19B	3.37B	2.82B	5.02B
EBITDA	2.14B	2.53B	2.40B	1.22B	1.43B	2.31B
Net Income	1.79B	1.81B	1.82B	799.40M	1.05B	1.58B
Balance Sheet
Total Assets	19.58B	15.52B	14.24B	12.18B	11.28B	13.52B
Cash, Cash Equivalents and Short-Term Investments	9.95B	7.29B	5.98B	4.89B	4.53B	5.75B
Total Debt	188.28M	203.05M	219.79M	176.21M	176.97M	602.76M
Total Liabilities	4.41B	3.04B	2.68B	2.27B	2.15B	3.32B
Stockholders Equity	15.12B	12.44B	11.49B	9.90B	9.13B	10.17B
Cash Flow
Free Cash Flow	2.47B	2.76B	2.22B	1.13B	113.45M	2.47B
Operating Cash Flow	2.58B	2.84B	2.51B	1.29B	295.40M	2.76B
Investing Cash Flow	-191.00M	-80.44M	-1.03B	-195.04M	332.68M	-1.18B
Financing Cash Flow	-1.53B	-1.53B	-706.88M	-908.09M	-1.51B	-1.15B

PixArt Imaging Inc. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

TW:3227 against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TW:3227	77Outperform	TWD 26.95B	13.67	―	5.70%	4.58%	-1.46%
TW:3014	76Outperform	TWD 21.24B	13.03	―	6.16%	-1.73%	8.63%
TW:2458	68Neutral	TWD 33.35B	13.51	―	7.56%	-7.93%	7.33%
TW:4961	61Neutral	TWD 20.91B	21.15	―	4.14%	-10.15%	-36.28%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
TW:2426	52Neutral	TWD 24.74B	129.15	―	0.12%	5.26%	―
TW:6451	39Underperform	TWD 33.94B	248.31	―	0.07%	9.32%	―

* General Sector Average

Performance Comparison

TW:3227 and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
TW:3227	PixArt Imaging Inc.	175.50	-36.95	-17.39%
TW:2426	Tyntek Corporation	82.40	66.47	417.26%
TW:2458	ELAN Microelectronics Corp.	117.00	-4.93	-4.04%
TW:3014	ITE Tech, Inc.	138.00	19.92	16.87%
TW:4961	Fitipower Integrated Technology Inc.	186.50	50.67	37.30%
TW:6451	ShunSin Technology Holdings Ltd.	290.50	137.58	89.96%

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Nov 10, 2026

PixArt Imaging Inc. AI Stock Analysis