Goldman Sachs Maintains Sell on Xilinx (XLNX)

Goldman Sachs is out with its report today on Xilinx XLNX, maintaining Sell.

In a note to clients, Goldman Sachs writes, "We think Xilinx's strategy to regain market share has merit over the long term. However, in the near term we continue to see risk to fundamentals as we expect customer inventory reductions over the next 2-3 quarters (we believe communications PLD revenues remain 15%-20% above normalized shipment levels), and Xilinx will likely continue to lose share through much of 2011."

Goldman Sachs has a $22 PT on XLNX.

At the time of posting, shares of XLNX were trading pre-market at $30.20, down 5.09% from Friday's close.