UPDATE: Piper Jaffray Assumes Xilinx (XLNX) at Neutral

(Updated - April 3, 2014 7:38 AM EDT)

Piper Jaffray assumed coverage on Xilinx (NASDAQ: XLNX) with a Neutral rating and a price target of $54.00.

Analyst Ruben Roy said, "We expect several longer-term trends to benefit the large programmable logic device (PLD) companies, the most significant of which, in our view, is the requirement for increasingly complex technology related to communications infrastructure upgrades, coupled with the escalating design costs related to custom and application specific semiconductors. Within this environment, we believe that the PLD companies can grow faster than the broader semiconductor market. For XLNX, we believe that this scenario, along with solid management execution over the past several years, is reflected in the current valuation."

The firm notes wireless infrastructure trends remain encouraging and XLNX has executed extremely well with new generation product road-map.

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 $54.55 yesterday.

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• BofA Securities Starts GE Vernova (GEV) at Neutral, 'Multiyear turnaround amid positive demand backdrop'
• Craig-Hallum Assumes DiaMedica Therapeutics Inc. (DMAC) at Buy
• Equifax (EFX) PT Lowered to $263 at Citi