what BMO had to say... BMO cut its target for the stock to 45 cents from 55 cents (with an "outperform" rating).
They said:
"We've trimmed our target price to $0.45 and believe ViXS shareholders should continue holding the stock, as we think it's possible that a higher offer could be forthcoming (and wouldn't necessarily expect much downside if another offer doesn't materialize)."
"Given the small break fee, the fact that only 36% of shares have agreed to tender, the value of ViXS' underlying assets, and the universe of potential acquirers, we think it's possible that a higher offer could be forthcoming.
"Our lack of familiarity with Pixelworks impedes our ability to fully assess the potential downside risk (relative to where ViXS' stock might trade tomorrow), should a better offer fail to materialize. However we suspect that the transaction will be well received by Pixelworks shareholders, given that it is expected to be accretive to Pixelworks' 2018 EPS and to its gross margins-and given that Pixelworks will be increasing its CY2018E revenue base by perhaps 35% for just 11% dilution."