Xilinx Rating Reiterated by Morgan Stanley (XLNX)
Xilinx (NASDAQ:XLNX)‘s stock had its “overweight” rating restated by stock analysts at Morgan Stanley in a report issued on Wednesday, Stock Ratings Network reports. They currently have a $52.00 price target on the stock. Morgan Stanley’s target price indicates a potential upside of 9.38% from the company’s current price.
The analysts wrote, “We and the Street were too optimistic on the December qtr, but the primary growth drivers for the stock remain intact (China LTE, 2014 improvements in industrial & wired) and we think the strength broadens from here,” the report noted. “Also encouraging were New Products which remain strong: $100mm in 28nm revenues in C4Q13 (vs. expectations for >$90mm). XLNX shares look attractive at aftermarket prices (~$46, down 4%), well below our $52 target (18x CY15 EPS of $2.54, ex cash). We continue to like the stock as we expect comm infra & industrial to grow at above trend over the next few Qs. We suspect Altera will see the same pattern of modest weakness in 4Q but growth in 1Q.”
A number of other analysts have also recently weighed in on XLNX. Analysts at Barclays upgraded shares of Xilinx from an “equal weight” rating to an “overweight” rating in a research note to investors on Wednesday, January 15th. They now have a $54.00 price target on the stock, up previously from $44.00. Separately, analysts at Goldman Sachs Group Inc. upgraded shares of Xilinx from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, January 2nd. They now have a $52.00 price target on the stock, up previously from $45.00. Finally, analysts at Drexel Hamilton upgraded shares of Xilinx from a “hold” rating to a “buy” rating in a research note to investors on Monday, December 23rd. They now have a $50.00 price target on the stock. Twelve investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Xilinx presently has a consensus rating of “Buy” and a consensus target price of $48.46.
Shares of Xilinx (NASDAQ:XLNX) opened at 47.54 on Wednesday. Xilinx has a 1-year low of $34.98 and a 1-year high of $48.12. The stock’s 50-day moving average is $45.15 and its 200-day moving average is $45.2. The company has a market cap of $12.756 billion and a price-to-earnings ratio of 24.84. Xilinx also saw some unusual options trading on Tuesday. Investors purchased 7,237 put options on the company. This is an increase of 292% compared to the typical daily volume of 1,848 put options.
Xilinx (NASDAQ:XLNX) last issued its quarterly earnings data on Tuesday, January 21st. The company reported $0.55 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.54 by $0.01. The company had revenue of $587.00 million for the quarter, compared to the consensus estimate of $600.61 million. During the same quarter last year, the company posted $0.38 earnings per share. Xilinx’s revenue was up 15.1% compared to the same quarter last year. Analysts expect that Xilinx will post $2.18 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, February 27th. Stockholders of record on Thursday, February 6th will be given a dividend of 0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.10%.
Xilinx, Inc (NASDAQ:XLNX) designs, develops and markets programmable platforms.
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