Fly News Breaks for January 29, 2020
Jan 29, 2020 | 07:35 EDT
BofA analyst Vivek Arya said that while the December quarter likely marks the bottom from a sales perspective for Xilinx, the company now expects recovery to be much more gradual, mostly due to a broad-based pause in global 5G rollouts. Following the company's report and guidance, he lowered his calendar 2020 and 2021 sales and non-GAAP EPS estimates, cut his price target to $90 from $100 and reiterated an Underperform rating on Xilinx shares.
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