UPDATE: Goldman Sachs Removes Xilinx (XLNX) from Conviction Buy List

(Updated - February 3, 2016 8:37 AM EST)

Goldman Sachs assumed coverage/downgraded Xilinx (NASDAQ: XLNX) from Conviction Buy to Buy with a price target of $54, suggesting upside of 8%.

Analyst Toshiya Hari said, "We are removing Xilinx (XLNX) from the Conviction List given recent outperformance, but continue to recommend investors buy shares of Xilinx as we think the company stands to benefit from its advantage at the 28nm node and share gains as Intel integrates Altera ... We also believe that Xilinx represents an attractive asset for companies seeking to strengthen their communications and data center portfolios."

For an analyst ratings summary and ratings history on Xilinx click here. For more ratings news on Xilinx click here.

Shares of Xilinx closed at $48.50 yesterday.

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