Roth Capital analyst Krishna Shankar was out pounding the table on Pixelworks, Inc. (NASDAQ:PXLW), reiterating a Buy rating and price target of $8.00, which implies an upside of 58% from current levels.

Shankar wrote, “In our opinion, PXLW is on track for double-digit product revenue growth in 2015/2016 driven by the ramp of projector platform revenues (72% of 2016 estimated revs), high-end 4K TV/embedded monitor chips (7% of 2016E revs), and new Iris mobile video processor chip and IP licensing/royalty revenues (21% of 2016E revs). PXLW management has indicated a healthy pipeline of Iris mobile video chip and IP design wins such as the Asus ZenPad tablet (with good initial customer reviews), and a new optimized version (Iris 2) mobile video platform is sampling with broader adoption potential. Upside potential exists for our estimates if PXLW mobile video processor chip or IP technology is adopted by high-end smartphone, tablet, and notebook customers.”

Bottom line, “We believe that fundamentals are on track driven by strength in the projector business and initial shipments of Iris mobile video processor chips. Our checks suggest positive reviews for the Asus ZenPad tablet design with Iris mobile video processor technology with further design wins ahead.”

According to, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Krishna Shankar has a total average return of -1.6% and a 39.0% success rate. Shankar has a -14.6% average return when recommending PXLW, and is ranked #3029 out of 3741 analysts.