Xilinx Rises Despite ABN Amro Cutting Estimates, Price Target
ABN Amro
cut its 2001 earnings estimate on Xilinx
(XLNX) - Get Xilinx Inc. 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
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, said its semiconductor business in the December quarter could come in weaker than expected.
Shares of
Xilinx
(XLNX) - Get Xilinx Inc. Report
were higher despite ABN's moves, recently trading up $2.50, or 4.8%, to $54.88 in
Nasdaq
trading.
