Jefferies Lifts PT on Xilinx (XLNX) to $47, Keeps 'Hold'

Jefferies bumped its price target on Xilinx (NASDAQ: XLNX) from $37 to $47 following Q1 results after the close but maintained a Hold rating.

"After posting a 9% revenue and a 19% earnings beat in the JulQ-13, we increase our price target but remain Hold-rated the stock. We expect XLNX to take share over the next two years as 28nm products ramp, but in the late innings of the cycle, we think higher estimates will be met with lower P/E multiples."

The firm maintained FY 2014 EPS at $1.78, but raised FY 2015 from $1.93 to $2.19.

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 $43.53 yesterday.

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