Xilinx (XLNX) Change of Control Provision Points to a Takeout - FBR Capital

FBR Capital analyst Christopher Rolland was positive on Xilinx (NASDAQ: XLNX) after better-than-expected C4Q15 top-line results and in-line C1Q16 guidance after the close. Even more interesting, however, was the issuance of an 8-K including a change of control provision and benefits for management upon a takeout.

The document and rationale were similar to Altera's, issued six months prior to Intel’s offer, Rolland notes.

"We believe this increases the odds of a takeout and perhaps lends credence to the DealReporter article suggesting that QUALCOMM could be a suitor," he said.

The firm maintained a Market Perform rating and price target of $50 on the stock.

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 $43.08 yesterday.

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