Xilinx (XLNX) Meeting Takeaways, PT To $120 At Baird

Baird analyst, Tristan Gerra, reiterated his Outperform rating on shares of Xilinx (NASDAQ: XLNX) and raised his price target to $120 from $105 after meeting with the company and walking away convinced it is successfully shifting to a higher growth model. Key points include:

• Xilinx is transitioning to a higher-growth model driven by new markets, higher content/network on chip architectures, rapidly growing SDAccel ecosystem, and potential acquisitions.
• 7nm-based Versal should become a meaningful revenue contributor by F2021, along with Alveo. Xilinx expects a 5G revenue peak significantly above the prior peak.
• In data center, Xilinx sees network acceleration as its larger opportunity. Company expects to outgrow ADAS's high-teen SAM CAGR.
• Xilinx remains focused on broader businesses such as industrial, test and emulation, and military which offer continued share gain opportunities.

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 $119.26 yesterday.

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