Wong's price target of $115 was unchanged. Shares of Xilinx closed Friday at $96.22 and were rising 2.39% in trading Monday to $98.52.
The average price for Xilinx on Wall Street is $122.20, according to Bloomberg.
Many risks remain for U.S. semiconductor companies, including uncertainties related to U.S.-China trade issues and U.S. action against Chinese companies such as Huawei, Wong said in a research note, The Fly reported. However, Xilinx's stock price and estimates have adjusted to reflect these risks, the analyst aded.