Why Xilinx Shares Are Trading Higher Today

Xilinx, Inc. XLNX shares are trading higher by 5.5% at $146 Thursday afternoon after the company reported better-than-expected first-quarter earnings. Additionally, Wells Fargo raised its price target on the stock from $110 to $140.

Xilinx is the leader in field-programmable gate arrays (FPGAs) by market share. Its chips are critical in the performance of various devices in the communications, data processing, industrial, consumer, and automotive markets. Xilinx designs and sells chips, but it outsources manufacturing to third-party chip foundries such as TSMC.

Xilinx has a 52-week high of $154.93 and a 52-week low of $96.71.