MKM Partners analyst Ruben Roy keeps his Neutral rating and $120 price target on Xilinx after its Analyst Day presentation yesterday highlighted its expectations of positive exposure to the three big technology "megatrends" - 5G, data center, and automotive end market growth. The analyst notes that the company's platform-based investment in innovation and technology, rather than "discrete product offerings" is compelling and likely to produce above-market growth. Roy adds however that the growth in target markets is "lumpy" and will not be linear, stating that the expectations for Xilinx's "solid execution" is already reflected in its current 27-times forward earnings multiple.