Xilinx, Inc. (XLNX) Downgraded to “Hold” at BidaskClub
BidaskClub lowered shares of Xilinx, Inc. (NASDAQ:XLNX) from a buy rating to a hold rating in a research report released on Thursday morning.
Several other research firms have also recently weighed in on XLNX. Pacific Crest restated an overweight rating and issued a $70.00 price target on shares of Xilinx in a research note on Monday, May 8th. Mizuho restated a hold rating and issued a $64.00 price target on shares of Xilinx in a research note on Thursday, April 27th. Jefferies Group LLC boosted their price target on Xilinx from $55.00 to $60.00 and gave the stock a hold rating in a research note on Friday, April 28th. Barclays PLC set a $65.00 price target on Xilinx and gave the stock a hold rating in a research note on Thursday. Finally, Instinet boosted their price target on Xilinx from $45.00 to $50.00 and gave the stock a reduce rating in a research note on Wednesday, May 24th. Two 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’s stock. The stock currently has an average rating of Hold and an average target price of $64.38.
Xilinx (NASDAQ XLNX) opened at 63.67 on Thursday. The firm has a 50-day moving average price of $65.47 and a 200-day moving average price of $61.66. Xilinx has a 52 week low of $48.75 and a 52 week high of $68.68. The company 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 posted its quarterly earnings results on Wednesday, July 26th. The programmable devices maker reported $0.63 earnings per share for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $615.40 million during the quarter, compared to analysts’ expectations of $615.69 million. During the same quarter in the previous year, the business earned $0.61 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. Equities research analysts anticipate that Xilinx will post $2.53 EPS for the current fiscal year.
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The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Shareholders of record on Thursday, August 10th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Tuesday, August 8th. Xilinx’s dividend payout ratio is presently 60.09%.
In other news, CEO Moshe Gavrielov sold 15,300 shares of the company’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $64.78, for a total value of $991,134.00. Following the completion of the transaction, the chief executive officer now owns 245,066 shares of the company’s stock, valued at $15,875,375.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Krishna Rangasayee sold 15,000 shares of the company’s stock in a transaction dated Monday, May 8th. The stock was sold at an average price of $64.89, for a total value of $973,350.00. Following the completion of the transaction, the insider now directly owns 15,555 shares of the company’s stock, valued at approximately $1,009,363.95. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,600 shares of company stock valued at $3,234,839. Corporate insiders own 0.40% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in XLNX. Quantitative Systematic Strategies LLC acquired a new position in Xilinx during the first quarter worth $269,000. DnB Asset Management AS raised its position in Xilinx by 19.2% in the first quarter. DnB Asset Management AS now owns 27,966 shares of the programmable devices maker’s stock worth $1,619,000 after buying an additional 4,500 shares during the period. Farmers & Merchants Investments Inc. raised its position in Xilinx by 4.8% in the first quarter. Farmers & Merchants Investments Inc. now owns 109,210 shares of the programmable devices maker’s stock worth $6,322,000 after buying an additional 5,000 shares during the period. National Pension Service raised its position in Xilinx by 1.1% in the first quarter. National Pension Service now owns 231,227 shares of the programmable devices maker’s stock worth $13,383,000 after buying an additional 2,527 shares during the period. Finally, Gulf International Bank UK Ltd raised its position in Xilinx by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 78,020 shares of the programmable devices maker’s stock worth $4,516,000 after buying an additional 1,000 shares during the period. 94.06% of the stock is owned by hedge funds and other institutional investors.
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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