Pixelworks, Inc. (NASDAQ:PXLW) (the “Company”), a leading provider of innovative video and display processing solutions, today announced that it entered into an Equity Transfer Agreement with a group of private equity investors based in China (“Purchasers”) for a portion of the Company’s equity interest in its majority owned subsidiary, Pixelworks Semiconductor Technology (Shanghai) Co., Ltd. (“PWSH”). Collectively, the Purchasers have agreed to pay amounts in RMB equivalent to approximately $12.9 million USD in exchange for a minority equity interest of 2.73% in PWSH. The purchase price values PWSH at RMB 3.2 billion or approximately $471.5 million USD. Following the closing of the transaction, which is expected in September of 2022, Pixelworks will continue to hold an 80.87% equity interest in its PWSH subsidiary.
Wells Fargo Maintains Overweight on Synopsys, Raises Price Target to $425
Wells Fargo analyst Gary Mobley maintains Synopsys (NASDAQ:SNPS) with a Overweight and raises the price target from $375 to $425.
