Friday, June 30, 2006

WR Hambrecht on Pixelplus

WR Hambrecht published a new research on Pixelplus following its quarterly earnings report. It downgrades Pixelplus shares to sell with price target $1. The research report mentions dissapearing design wins in LG, loss and lack of visibility in China business, product yield and quality problems at its foundry partner DongbuAnam. The company pour forecast on 2MP sensors resulted in large accumulated inventory. Grim picture overall.

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