Xilinx (XLNX) PT Raised to $120 at Baird on Strong Base Station Orders

Baird analyst Tristan Gerra raised the price target on Xilinx (NASDAQ: XLNX) to $120.00 (from $115.00) on recent industry checks highlighting a pick-up in 5G basestation-related orders, with momentum building over the next several quarters. Xilinx appears to be ramping capacity-related orders for both this quarter and future quarters.

The analyst reiterated an Outperform rating, stating "We continue to see strong design win activity for Versal RF, at several customers and including Samsung's second-generation 5G radio networks, with a ramp slated for C2021. MIMO and mmWave radio implementations both offer a very good fit for FPGAs. Xilinx's Zynq Ultrascale RF SOC is very well suited for mmWave applications. With massive MIMO configurations, processing moves from the BBU (Baseband Processing Unit) or DU (Distributed Unit) to the RU (Radio Unit), making it very well suited for FPGAs, which enable split or configuration changes for different radio units".

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