Rosenblatt Securities Reaffirms Hold Rating for Xilinx, Inc. (XLNX)
“We expect to Xilinx to report June quarter sales and EPS of $615 million (up 0.9% q/q) and $0.60 respectively which are also consensus. Outlook we ex- pect for the September quarter we view as flat-to-down in terms of sales which is seasonal off of stable communications business and continued positive trends in the company’s Advanced Products which are gaining share in the broader FPGA market segments in our opinion.”,” Rosenblatt Securities’ analyst commented.
XLNX has been the topic of several other reports. Vetr raised Xilinx from a hold rating to a buy rating and set a $65.52 price objective on the stock in a research report on Tuesday, May 2nd. Morgan Stanley raised their target price on Xilinx from $67.00 to $72.00 and gave the company an overweight rating in a research note on Friday, April 28th. Macquarie started coverage on Xilinx in a research note on Thursday, March 30th. They set a neutral rating and a $60.00 target price for the company. Zacks Investment Research downgraded Xilinx from a buy rating to a hold rating in a research note on Tuesday, April 18th. Finally, Pacific Crest restated an overweight rating and set a $70.00 target price on shares of Xilinx in a research note on Friday, May 19th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the company. Xilinx currently has an average rating of Hold and a consensus price target of $64.38.
Xilinx (XLNX) traded down 0.27% on Wednesday, hitting $63.67. The stock had a trading volume of 2,166,300 shares. The company’s 50-day moving average is $65.47 and its 200-day moving average is $61.66. Xilinx has a one year low of $48.75 and a one year high of $68.68. The stock has a market cap of $15.78 billion, a P/E ratio of 27.21 and a beta of 1.10.
Xilinx (NASDAQ:XLNX) last released its quarterly earnings data on Wednesday, July 26th. The programmable devices maker reported $0.63 EPS for the quarter, beating the consensus estimate of $0.60 by $0.03. Xilinx had a return on equity of 24.70% and a net margin of 26.22%. The company had revenue of $615.40 million for the quarter, compared to analyst estimates of $615.69 million. During the same period last year, the company posted $0.61 earnings per share. The firm’s revenue was up 7.0% compared to the same quarter last year. On average, analysts anticipate that Xilinx will post $2.53 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Thursday, August 10th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, August 8th. This represents a $1.40 dividend on an annualized basis and a yield of 2.20%. Xilinx’s payout ratio is currently 60.09%.
In other Xilinx news, CFO Lorenzo Flores sold 9,600 shares of Xilinx stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $66.69, for a total value of $640,224.00. Following the completion of the transaction, the chief financial officer now directly owns 19,058 shares in the company, valued at $1,270,978.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Moshe Gavrielov sold 600 shares of Xilinx stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $64.75, for a total value of $38,850.00. Following the completion of the transaction, the chief executive officer now owns 235,766 shares of the company’s stock, valued at $15,265,848.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 49,600 shares of company stock valued at $3,234,839. 0.40% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the stock. TrimTabs Asset Management LLC increased its position in shares of Xilinx by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 1,989 shares of the programmable devices maker’s stock worth $115,000 after buying an additional 936 shares during the last quarter. Whittier Trust Co. increased its position in shares of Xilinx by 16.8% in the first quarter. Whittier Trust Co. now owns 2,683 shares of the programmable devices maker’s stock worth $155,000 after buying an additional 386 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Xilinx by 9,866.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 2,691 shares of the programmable devices maker’s stock worth $156,000 after buying an additional 2,664 shares during the last quarter. Huntington National Bank increased its position in shares of Xilinx by 217.1% in the second quarter. Huntington National Bank now owns 2,794 shares of the programmable devices maker’s stock worth $180,000 after buying an additional 1,913 shares during the last quarter. Finally, First Mercantile Trust Co. increased its position in shares of Xilinx by 12.0% in the first quarter. First Mercantile Trust Co. now owns 3,013 shares of the programmable devices maker’s stock worth $174,000 after buying an additional 324 shares during the last quarter. Institutional investors own 94.20% of the company’s stock.
Xilinx Company Profile
Xilinx, Inc (Xilinx) is engaged in designing and developing programmable devices and associated technologies. The Company’s programmable devices and associated technologies include integrated circuits (ICs) in the form of programmable logic devices (PLDs), including programmable System on Chips (SoCs) and three-dimensional ICs (3D ICs); software design tools to program the PLDs; targeted reference designs; printed circuit boards, and intellectual property (IP), which consists of Xilinx, and various third-party verification and IP cores.
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