UPDATE: BMO Capital Markets Raises PT to $44 on Xilinx, Maintains Perform
BMO Capital Markets maintains its Perform rating on Xilinx (NASDAQ: XLNX) and raises its price target to $44 from $41 on decent execution amid a difficult environment.
BMO Capital Markets says, "Xilinx beat consensus estimates for reported F3Q and for guidance for F4Q. F3Q revenues were $511 mn, down 8% q-q, and EPS was $0.41, excluding a $0.06 tax benefit. Guidance is for F4Q revenues to be up 4% q-q, in line with our expectation, but above consensus' expectation for growth of 2%."
XLNX closed at $35.30 per share on Wednesday.
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Tags: BMO Capital Markets