Nomura Securities Starts Xilinx (XLNX) at Neutral; Solid Execution Balanced by Slow Spending

Nomura Securities initiates coverage on Xilinx (NASDAQ: XLNX) with a Neutral. PT $38.00.

Analyst, Romit Shah, said, "Xilinx shares are currently buoyed by investor expectations for a repeat of last cycle’s sharp bounce-back, with its healthy revenue and earnings growth, and the added bump of increased capex spending. While we believe this optimism is outsized and look for a more gradual recovery, with muted capex, Xilinx should benefit from share gains at 28nm."

"We forecast EPS (with options) of $2.06 in FY13 and $2.39 in FY14 versus consensus forecast of $1.97 in FY13 and $2.35 in FY14."

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 $35.72 yesterday.

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