5G Upside Surprise Drives Our FVE Increase to $80 for Xilinx; Shares Continue to Look Rich
Xilinx reported fiscal second-quarter results ahead of our expectations, while raising full fiscal 2019 revenue growth guidance to a midpoint of 17% (up from 12% last quarter) due to broad-based strength. Despite the near-term concerns that have been plaguing many of Xilinx’s semiconductor counterparts, the firm’s solid results coupled with its optimistic outlook underscore the traction Xilinx is garnering for its FPGAs in promising areas such as the data center. The FPGA leader recently launche...Xilinx designs and develops programmable devices and associated technologies, including: integrated circuits (ICs) in the form of programmable logic devices (PLDs), including programmable System on Chips and three-dimensional ICs; Adaptive Compute Acceleration Platform, a multi-core heterogeneous compute platform; software design tools to program the PLDs; software development environments and embedded platforms; targeted reference designs; printed circuit boards; and intellectual property (IP), which consists of the company and third-party verification and IP cores. In addition to its programmable platforms, the company provides design services, customer training, field engineering and technical support.
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