Xilinx (XLNX) Stock Surges After Results Beat Expectations

“Boy do we feel dumb for missing this stock,” Raymond James analyst Chris Caso said Thursday after Xilinx Inc. posted a surprising beat-and-raise third quarterBloomberg Terminal.

The maker of logic chips reported record revenue on 5G strength and likely market share gains from Intel Corp. in emulation, Caso wrote in a note to clients. Design wins in the data center sector have yet to translate into big revenue gains, suggesting a potential for a more significant catalyst in the future, he said. Even so, Raymond James is “hesitant to chase the stock at these levels” and maintained its neutral rating.

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