UPDATE: Auriga Raises Price Target on Xilinix to $40

According to Auriga, Xilinix (NASDAQ: XLNX) price target is raised to $40.

Auriga said that it maintains its Buy rating for Xilinx (XLNX) and increase its price target to $40 from $36 as the company's print/guide was significantly better than expectations. “We still remain cautious on overall service provider capex for 2012 and see room for more upside if carrier spending accelerates beyond our modest expectations.”

Xilinix closed yesterday at $35.30.