Xilinx’s Neutral Rating Reaffirmed at Zacks (XLNX)
Xilinx (NASDAQ:XLNX)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued on Friday. They currently have a $48.00 price target on the stock. Zacks‘s target price would suggest a potential upside of 3.92% from the company’s current price.
Zacks’ analyst wrote, “Xilinx reported mixed fourth-quarter results. The first-quarter revenue guidance was also 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. The company’s product launches are also expected to boost revenues. 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 (significant consumer for semiconductor chips) keep us concerned for the near term. Thus, we prefer to remain on the sidelines and reiterate our Neutral recommendation on Xilinx.”
Other equities research analysts have also recently issued reports about the stock. Analysts at Goldman Sachs downgraded shares of Xilinx from a “buy” rating to a “neutral” rating in a research note on Monday, June 2nd. They now have a $49.00 price target on the stock, down previously from $55.00. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of Xilinx from $49.00 to $52.00 in a research note on Thursday, April 24th. Finally, analysts at Jefferies Group raised their price target on shares of Xilinx from $47.00 to $53.00 in a research note on Thursday, April 24th. Nine analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $52.77.
Xilinx (NASDAQ:XLNX) traded up 0.57% during mid-day trading on Friday, hitting $46.455. 1,421,371 shares of the company’s stock traded hands. Xilinx has a 52-week low of $37.63 and a 52-week high of $55.59. The stock has a 50-day moving average of $46.49 and a 200-day moving average of $48.23. The company has a market cap of $12.487 billion and a P/E ratio of 21.09. Xilinx also saw a large decrease in short interest in May. As of May 30th, there was short interest totalling 3,671,225 shares, a decrease of 22.3% from the May 15th total of 4,723,811 shares. Currently, 1.4% of the company’s shares are sold short. Based on an average daily trading volume, of 2,326,781 shares, the days-to-cover ratio is currently 1.6 days.
Xilinx (NASDAQ:XLNX) last posted its quarterly earnings results on Wednesday, April 23rd. The company reported $0.53 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.55 by $0.02. The company had revenue of $617.80 million for the quarter, compared to the consensus estimate of $611.74 million. During the same quarter last year, the company posted $0.47 earnings per share. Xilinx’s revenue was up 16.1% compared to the same quarter last year. On average, analysts predict that Xilinx will post $2.44 earnings per share for the current fiscal year.
Xilinx, Inc (NASDAQ:XLNX) designs and develops programmable devices and associated technologies.
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