Xilinx (XLNX) Downgraded To 'Hold' At Deutsche Bank
Thursday, January 19, 2022 1:10 PM



Deutsche Bank (DB) downgraded its rating on Xilinx Inc. (NASDAQ:XLNX) to "Hold" from "Buy", while lifting its price target to $38 from $34.

"XLNX guided to solid growth in the March quater and signaled a bottom to the recent semi downturn. While we are encouraged by this positive inflection point being attained and continue to see XLNX as regaining share, we believe these attributes were fairly reflected in last night’s aftermarket price of roughly $38," said DB analyst Ross Seymore.

The analyst said XLNX’s F4Q rev guidance for growth of +2-6% q/q was better than expected (DB +3%, Street +2% q/q) and in-line with normal seasonality, driven by resumed sales growth in Comms, Industrial and military end markets.

Valuation premiums adequately reflect XLNX’s strong profitability, growth potential and recent stabilization of its PLD market share, Seymore wrote.

The stock is up 0.9 percent to $35.64.


 

Sponsors

Advertisement


Advertisement