Barclays Maintains an 'Equalweight' on Xilinx (XLNX); December Guidance Incrementally Better than Buy-side Expectations

Barclays maintains an 'Equalweight' on Xilinx (NASDAQ: XLNX) price target raised $2 to $35.00.

Barclays analyst says, "Although guidance was below Street, we view results favorably as we believe investors were expecting a much larger reset. We recently lowered our EPS and now think the Street is likely to meet us somewhere in the middle, led in particular by the better GM outlook. To this end, we tweaked our CY12 estimates/PT. While we see XLNX shares nearing a bottom, we continue to prefer Alterra (Nasdaq: ALTR) given our 40nm share gain outlook."

"We now model December at $525M/$040 (consensus $570M/$0.45), CY11E $2.28B/$2.05 (consensus $2.34B/$2.06) and CY12E $2.37B/$2.03 (consensus $2.45B/$2.10)."

For more ratings news on Xilinx click here and for the rating history of Xilinx click here.

Shares of Xilinx closed at $29.60 yesterday.

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