Deutsche Bank Downgrades Xilinx (XLNX) to Hold; Bottom Marked, but Top Priced In

Deutsche Bank downgraded Xilinx (NASDAQ: XLNX) from Buy to Hold, price target raised to $38.00.

Deutsche analyst says, "Similar to Linear (Nasdaq: LLTC), XLNX guided to solid growth in the March qtr and signaled a bottom to the recent semi downturn. While we are encouraged by this positive inflection point being attained and continue to see XLNX as regaining share, we believe these attributes were fairly reflected in last night’s aftermarket price of roughly $38."

"GM was guided down to 64-65% on customer mix (Comms up) and new product ramp costs. Driven by these factors we raise our CY12 rev/EPS ests to $2.29b (+1% y/y)/$1.95 from prior $2.17b/$1.79. We introduce our CY13 rev/EPS ests at $2.5b (+10% y/y)/$2.50."

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 $35.30 yesterday.

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