Xilinx (XLNX) Receives a Rating Update from a Top Analyst

By Ryan Adsit

Mizuho Securities analyst Vijay Rakesh reiterated a Buy rating on Xilinx (XLNXResearch Report) today. The company’s shares closed yesterday at $126.57, close to its 52-week high of $130.57.

Rakesh commented:

“We also believe XLNX has a strong lead over INTC and MRVL, with FPGAs still the key 5G radio interface. We believe XLNX is still on phase 1 of the sub-6GHz 5G ramp and the phase 2 small cell mmWave ramp is still ahead. Reiterating our Buy, raising our estimates, and raising our PT to $140 from $107.”

According to TipRanks.com, Rakesh is a top 100 analyst with an average return of 20.3% and a 60.2% success rate. Rakesh covers the Consumer Goods sector, focusing on stocks such as Skyworks Solutions, Texas Instruments, and Western Digital.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Xilinx with a $110.23 average price target, which is a -12.9% downside from current levels. In a report released yesterday, Robert W. Baird also reiterated a Buy rating on the stock with a $130 price target.

See today’s analyst top recommended stocks >>

The company has a one-year high of $130.57 and a one-year low of $62.54. Currently, Xilinx has an average volume of 3.74M.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Xilinx, Inc. engages in designing and developing programmable devices and associated technologies. It also provides design services, customer training, field engineering, and technical support. The company was founded by Ross Freeman, Bernard Vonderschmitt, and James V. Barnett II in February 1984 and is headquartered in San Jose, CA.