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July 12, 2013 at 09:19 AM EDT
Citigroup Upgrades Xilinx to “Buy” (XLNX)

Citigroup analysts believe that Xilinx, Inc. (XLNX) is poised for substantial growth going forward, driven by the development of Chinese wireless infrastructure. As such, the analysts upgraded the programmable logic solutions provider on Friday.

The analysts upgraded XLNX to “Buy” and see shares reaching $50. This new price target suggests a 19% upside to the stock’s Thursday closing price of $41.85.

Xilinx shares were up 75 cents, or 1.79%, during pre-market trading on Friday. The stock is up 16.7% year-to-date.

The Bottom Line
Shares of Xilinx (XLNX) have a dividend yield of 2.39% based on last night’s closing price of $41.85 and the company’s annualized dividend payout of $1.00 per share.

Xilinx, Inc. (XLNX) is not recommended at this time, holding a DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

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