Zacks Reiterates “Neutral” Rating for Xilinx (XLNX)
Xilinx (NASDAQ:XLNX)‘s stock had its “neutral” rating restated by Zacks in a report released on Friday. They currently have a $43.00 price target on the stock. Zacks‘s target price would indicate a potential upside of 3.74% from the company’s current price.
Zacks’ analyst wrote, “Xilinx reported better-than-expected first-quarter results. However, second-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. Moreover, the communications segment is expected to continue to show strength due to the China LTE deployments. However, stiff competition from Altera remain the near term headwind. Thus, we reiterate our Neutral recommendation on Xilinx.”
A number of other firms have also recently commented on XLNX. Analysts at Argus upgraded shares of Xilinx from a “hold” rating to a “buy” rating in a research note on Thursday. They noted that the move was a valuation call. Separately, analysts at Topeka Capital Markets cut their price target on shares of Xilinx from $49.00 to $45.00 in a research note on Wednesday. They now have a “hold” rating on the stock. Finally, analysts at Nomura reiterated a “buy” rating on shares of Xilinx in a research note on Wednesday. They now have a $50.00 price target on the stock, down previously from $55.00. Thirteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $50.20.
Xilinx (NASDAQ:XLNX) traded up 0.27% during mid-day trading on Friday, hitting $41.46. The stock had a trading volume of 7,462,902 shares. Xilinx has a 1-year low of $39.12 and a 1-year high of $55.59. The stock has a 50-day moving average of $47. and a 200-day moving average of $48.74. The company has a market cap of $11.097 billion and a price-to-earnings ratio of 18.39. Xilinx also was the target of unusually large options trading on Friday. Traders purchased 11,148 call options on the stock. This represents an increase of approximately 376% compared to the typical daily volume of 2,343 call options.
Xilinx (NASDAQ:XLNX) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.62 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.61 by $0.01. The company had revenue of $612.60 million for the quarter, compared to the consensus estimate of $631.42 million. During the same quarter in the prior year, the company posted $0.56 earnings per share. The company’s quarterly revenue was up 5.8% on a year-over-year basis. Analysts expect that Xilinx will post $2.40 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, August 27th. Investors of record on Wednesday, August 6th will be given a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend is Monday, August 4th.
Xilinx, Inc (NASDAQ:XLNX) designs and develops programmable devices and associated technologies.
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