.png "Xilinx (NASDAQ: XLNX)")
Mizuho Securities analyst Vijay Rakesh reiterated a Buy rating on Xilinx (XLNX) today. The company’s shares closed yesterday at $139.72, close to its 52-week high of $141.60.
Rakesh noted:
“We believe the stock is off given concerns of 1) the length of the 5G ramp, which we would note is still in the early stages at <10% penetrated; and 2) GM impact, though a DC rebound and XLNX currently shipping 16nm with 7nm Gen2/Gen3 going into mass production should help. We are adjusting our estimates, reiterating our Buy rating, and raising our PT to $145 from $140."
According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 23.6% and a 65.0% success rate. Rakesh covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Texas Instruments, and Western Digital.
Currently, the analyst consensus on Xilinx is a Moderate Buy with an average price target of $131.31, representing a -6.0% downside. In a report issued on April 17, Deutsche Bank also maintained a Buy rating on the stock with a $125 price target.
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Based on Xilinx’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $239 million. In comparison, last year the company had a net profit of $166 million.
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Xilinx, Inc. engages in designing and developing programmable devices and associated technologies. It also provides design services, customer training, field engineering, and technical support. The company was founded by Ross Freeman, Bernard Vonderschmitt, and James V. Barnett II in February 1984 and is headquartered in San Jose, CA.
