Why Xilinx Shares Are Rising

Shares of chip and semiconductor stocks, including Xilinx, Inc. XLNX, are trading higher. A weekend report from the Semiconductor Industry Association showed November sales of $51.7B. Additionally, a report from Euler Hermes showed expected semi sales growth of 9% for 2022.

Shares of several companies in the broader technology sector were also trading higher last week on a continued rebound after the recent omicron-driven selloff.

See Also: Why Tesla Shares Are Trading Higher Today

Xilinx's chips are critical in the performance of various devices in the communications, data processing, industrial, consumer and automotive markets. Xilinx designs and sells chips, but it outsources manufacturing to third-party chip foundries such as TSMC.

Xilinx has a 52-week high of $239.79 and a 52-week low of $111.84.