Xilinx Receives Neutral Rating from Zacks (XLNX)
Xilinx (NASDAQ:XLNX)‘s stock had its “neutral” rating reiterated by Zacks in a note issued to investors on Monday, Analyst Ratings.Net reports. They currently have a $49.00 price target on the stock. Zacks‘ price objective suggests a potential upside of 4.57% from the company’s current price.
Zacks‘ analyst wrote, “Xilinx reported mixed third-quarter results wherein the bottom line beat the Zacks Consensus Estimate, while the top line fell short of the same. The fourth-quarter revenue guidance was tepid. Nonetheless, the growing demand for 28-nm nodes driven by higher wireless deployments and strength in the wired communication segment are expected to remain growth drivers. The company’s product launches are also expected to boost revenues in the forthcoming quarters. However, stiff competition from Altera and dwindling PC market sales keep us concerned for the near term. Thus, we reiterate our Neutral recommendation on Xilinx. “
A number of other firms have also recently commented on XLNX. Analysts at Morgan Stanley reiterated an “overweight” rating on shares of Xilinx in a research note to investors on Wednesday, January 22nd. They now have a $52.00 price target on the stock. Separately, 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. Finally, 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. Twelve equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $48.54.
In other Xilinx news, CEO Moshe Gavrielov sold 102,390 shares of the company’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $48.60, for a total transaction of $4,976,154.00. Following the completion of the transaction, the chief executive officer now directly owns 95,850 shares in the company, valued at approximately $4,658,310. The transaction was disclosed in a filing with the SEC, which is available at this link.
Shares of Xilinx (NASDAQ:XLNX) traded down 1.11% during mid-day trading on Monday, hitting $46.34. The stock had a trading volume of 1,519,843 shares. Xilinx has a 52 week low of $34.98 and a 52 week high of $48.91. The stock’s 50-day moving average is $45.47 and its 200-day moving average is $45.32. The company has a market cap of $12.434 billion and a price-to-earnings ratio of 24.48.
Xilinx (NASDAQ:XLNX) last issued its quarterly earnings data on Tuesday, January 21st. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.38 earnings per share. The company’s quarterly revenue was up 15.1% on a year-over-year basis. On average, analysts predict that Xilinx will post $2.18 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Thursday, February 27th. Investors 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 2.13%. The ex-dividend date of this dividend is Tuesday, February 4th.
Xilinx, Inc (NASDAQ:XLNX) designs, develops and markets programmable platforms.
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