Xilinx (XLNX) Price Target Raised to $78.00 at Morgan Stanley
Xilinx (NASDAQ:XLNX) had its price target boosted by Morgan Stanley from $72.00 to $78.00 in a research report sent to investors on Wednesday morning. They currently have an overweight rating on the programmable devices maker’s stock.
A number of other equities research analysts also recently commented on XLNX. BMO Capital Markets restated a buy rating and issued a $80.00 target price on shares of Xilinx in a research report on Wednesday, October 18th. SunTrust Banks restated a hold rating on shares of Xilinx in a research report on Wednesday, October 4th. BidaskClub cut Xilinx from a hold rating to a sell rating in a research note on Saturday, August 19th. MKM Partners lifted their price objective on Xilinx from $63.00 to $78.00 and gave the company a neutral rating in a research note on Sunday, October 8th. Finally, Robert W. Baird reaffirmed a hold rating and issued a $68.00 price objective on shares of Xilinx in a research note on Friday, October 27th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $70.05.
Xilinx (NASDAQ:XLNX) traded up $0.35 during trading hours on Wednesday, reaching $68.03. The company’s stock had a trading volume of 2,421,400 shares, compared to its average volume of 2,596,689. Xilinx has a 12 month low of $54.99 and a 12 month high of $75.14. The company has a debt-to-equity ratio of 0.70, a current ratio of 9.86 and a quick ratio of 9.35. The stock has a market capitalization of $17,070.00, a P/E ratio of 28.56, a P/E/G ratio of 2.80 and a beta of 1.07.
Xilinx (NASDAQ:XLNX) last posted its earnings results on Wednesday, October 25th. The programmable devices maker reported $0.65 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.02. Xilinx had a return on equity of 25.17% and a net margin of 25.93%. The company had revenue of $620.00 million for the quarter, compared to the consensus estimate of $620.99 million. During the same quarter in the previous year, the business earned $0.61 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. equities analysts expect that Xilinx will post 2.59 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 6th. Investors of record on Wednesday, November 15th were paid a dividend of $0.35 per share. The ex-dividend date of this dividend was Tuesday, November 14th. This represents a $1.40 annualized dividend and a yield of 2.06%. Xilinx’s payout ratio is 59.07%.
In related news, CEO Moshe Gavrielov sold 25,000 shares of the business’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $69.76, for a total transaction of $1,744,000.00. Following the completion of the transaction, the chief executive officer now directly owns 270,856 shares of the company’s stock, valued at approximately $18,894,914.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Lorenzo Flores sold 2,828 shares of the business’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $74.23, for a total value of $209,922.44. Following the transaction, the chief financial officer now directly owns 28,313 shares of the company’s stock, valued at $2,101,673.99. The disclosure for this sale can be found here. Insiders have sold a total of 213,127 shares of company stock valued at $15,135,685 over the last three months. 0.40% of the stock is currently owned by insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dearborn Partners LLC grew its stake in Xilinx by 2.3% during the 2nd quarter. Dearborn Partners LLC now owns 336,588 shares of the programmable devices maker’s stock worth $21,649,000 after purchasing an additional 7,493 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Xilinx by 1.9% during the 2nd quarter. Principal Financial Group Inc. now owns 398,503 shares of the programmable devices maker’s stock worth $25,632,000 after acquiring an additional 7,486 shares in the last quarter. Delta Lloyd Asset Management N.V. acquired a new position in shares of Xilinx during the 2nd quarter worth about $2,376,000. KBC Group NV boosted its position in shares of Xilinx by 31.2% during the 2nd quarter. KBC Group NV now owns 30,949 shares of the programmable devices maker’s stock worth $1,991,000 after acquiring an additional 7,359 shares in the last quarter. Finally, Atlantic Trust Group LLC acquired a new position in shares of Xilinx during the 2nd quarter worth about $6,328,000. 95.23% 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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