J.P. Morgan Reiterates Overweight Rating On Xilinx

According to J.P. Morgan, Xilinx EW reported June quarter results above expectations and provided seasonal September quarter guidance. J.P. Morgan said that it would remain buyers of XLNX stock as the reasons it upgraded remain intact: the end of the inventory correction and its expectation that the company should gain back share at the 28-nanometer node. “We reiterate our Overweight rating due to upside to consensus.” Xilinx closed yesterday at $33.18.