Xilinx’s Neutral Rating Reaffirmed at Zacks (XLNX)
Xilinx (NASDAQ:XLNX)‘s stock had its “neutral” rating reiterated by Zacks in a report issued on Friday, Analyst Ratings Net reports. They currently have a $53.00 price target on the stock. Zacks‘ price objective indicates a potential upside of 4.45% from the stock’s previous close.
Zacks‘ analyst wrote, “Xilinx reported mixed third-quarter results wherein the bottom line beat the Zacks Consensus Estimate but the top line fell short of the same. Additionally, 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 the growth drivers. Moreover, the communications segment is expected to continue to show strength due to the China LTE deployments. 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 analysts have also recently weighed in on XLNX. Analysts at Topeka Capital Markets raised their price target on shares of Xilinx from $46.00 to $49.00 in a research note on Thursday, February 13th. Separately, analysts at BMO Capital Markets raised their price target on shares of Xilinx from $50.00 to $52.00 in a research note on Thursday, February 13th. Finally, analysts at MKM Partners initiated coverage on shares of Xilinx in a research note on Tuesday, February 11th. They set a “buy” rating and a $54.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $49.33.
Shares of Xilinx (NASDAQ:XLNX) traded up 0.81% during mid-day trading on Friday, hitting $51.15. 1,993,016 shares of the company’s stock traded hands. Xilinx has a 1-year low of $34.98 and a 1-year high of $51.09. The stock has a 50-day moving average of $47.01 and a 200-day moving average of $45.68. The company has a market cap of $13.650 billion and a P/E ratio of 23.69.
Xilinx (NASDAQ:XLNX) last announced its earnings results 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. Analysts expect that Xilinx will post $2.22 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, June 4th. Investors of record on Wednesday, May 14th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 2.29%. The ex-dividend date of this dividend is Monday, May 12th. This is an increase from Xilinx’s previous quarterly dividend of $0.25.
In other Xilinx news, VP Frank Tornaghi sold 65,000 shares of Xilinx stock on the open market in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $50.00, for a total value of $3,250,000.00. Following the transaction, the vice president now directly owns 4,882 shares in the company, valued at approximately $244,100. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Xilinx, Inc (NASDAQ:XLNX) designs and develops programmable devices and associated technologies.
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