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Xilinx: Baird Cuts to Hold, No Upside in a Weakening Wireless Market

Shares of programmable chip vendor Xilinx (XLNX) are down $1.18, or 2%, at $49.81, after R.W. Baird’s Tristan Gerra this morning cut his rating on the shares to Neutral from Outperform, citing a “lack of upside to fiscal 2017 estimates” because of “weakening wireless infrastructure." "Wireless infrastructure trends have tracked below expectation since June, in our view, notably with renewed weakness in China,” writes Gerra.
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