Deutsche Bank Previews F2Q For Xilinx

Deutsche Bank issued a F2Q 2015 preview for Xilinx, Inc. XLNX and maintained a Hold rating and $45 price target.

Analyst Ross Seymore expected "Xilinx to report F2Q2015 (September) revenue of $602 million (-2 percent q/q), in line with Consensus and guidance as we estimate Communications & Data Center revenue to decline -13 percent q/q (44 percent of sales), offset by Industrial, Aerospace and Defense +15 percent q/q (37 percent of sales)."

"We see risk to F3Q2015 (December) Consensus estimates of $624 million (DBe $629 million), as it implies sequential revenue growth of +4 percent q/q (DBe +5 percent), above the 10-year average decline -0.2 percent (10-year median -4.4 percent)," according to the report.

Seymore concluded, "although XLNX shares have fallen ~14 percent in the past month, with CY15E valuation now a more reasonable ~15x P/E, 3.1x EV/Sales, we still advise caution as we see risk to Dec qtr and FY15 Consensus estimates. When combined with recent signs of softness in macro data points, we retain our Hold rating."

The company will announce results after the market close on Thursday.

Xilinx, Inc. recently traded at $38.38, up 2.13 percent.