Xilinx (XLNX) PT Lowered to $110 at Baird

Baird analyst Tristan Gerra lowered the price target on Xilinx (NASDAQ: XLNX) to $110.00 (from $128.00) while maintaining an Outperform rating.

The analyst commented, "Reducing our estimates on a subdued demand outlook for the rest of C2019. However, Xilinx's fundamentals remain unchanged in our view, with rebound catalysts in place for C1H20 including an expected ramp in data centers driven by new architectures/win, renewed momentum in 5G basestations which we expect will more than double worldwide YoY in C2020, along with ongoing market share gains and shift to higher-content system solutions. We expect XDF will provide updates on Xilinx's SDAccel ecosystem progress along with new product and technology updates. Outperform-rated."

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