Xilinx Rises Despite ABN Amro Cutting Estimates, Price Target

ABN Amro

cut its 2001 earnings estimate on Xilinx

(XLNX) - Get Report

to $1.31 a share from $1.35 and its 12-month price target to $100 from $120.

ABN lowered its estimates on the specialty chipmaker after news that one of its largest distributors,

Avnet

(AVT) - Get Report

, said its semiconductor business in the December quarter could come in weaker than expected.

Shares of

Xilinx

(XLNX) - Get Report

were higher despite ABN's moves, recently trading up $2.50, or 4.8%, to $54.88 in

Nasdaq

trading.