Xilinx, Inc. (XLNX) Stock Rating Reaffirmed by Pacific Crest
Xilinx, Inc. (NASDAQ:XLNX)‘s stock had its “overweight” rating reissued by analysts at Pacific Crest in a note issued to investors on Friday. They currently have a $70.00 price target on the programmable devices maker’s stock. Pacific Crest’s price target would indicate a potential upside of 4.99% from the company’s current price.
A number of other research analysts also recently issued reports on XLNX. Deutsche Bank AG lifted their price objective on shares of Xilinx from $49.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, January 23rd. Zacks Investment Research raised shares of Xilinx from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research report on Tuesday, January 24th. Credit Suisse Group AG lifted their price objective on shares of Xilinx from $57.00 to $65.00 and gave the stock a “neutral” rating in a research report on Thursday, January 26th. Jefferies Group LLC lifted their price objective on shares of Xilinx from $50.00 to $55.00 and gave the stock a “hold” rating in a research report on Thursday, January 26th. Finally, Robert W. Baird reaffirmed a “neutral” rating on shares of Xilinx in a research report on Thursday, January 26th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. Xilinx currently has an average rating of “Hold” and an average price target of $60.33.
Xilinx (NASDAQ:XLNX) opened at 66.67 on Friday. Xilinx has a 52 week low of $43.50 and a 52 week high of $67.09. The stock has a 50 day moving average of $60.65 and a 200 day moving average of $58.13. The company has a market cap of $16.54 billion, a P/E ratio of 28.74 and a beta of 1.15.
Xilinx (NASDAQ:XLNX) last issued its quarterly earnings data on Wednesday, April 26th. The programmable devices maker reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.03. Xilinx had a net margin of 26.58% and a return on equity of 23.89%. The firm had revenue of $609.50 million for the quarter, compared to the consensus estimate of $605.25 million. During the same quarter in the previous year, the firm earned $0.54 EPS. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. On average, analysts expect that Xilinx will post $2.48 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Tuesday, May 16th will be paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.10%. This is a boost from Xilinx’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, May 12th. Xilinx’s payout ratio is presently 57.89%.
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In related news, insider Krishna Rangasayee sold 15,000 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $64.89, for a total value of $973,350.00. Following the completion of the transaction, the insider now directly owns 15,555 shares in the company, valued at approximately $1,009,363.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Moshe Gavrielov sold 600 shares of the business’s stock in a transaction on Monday, May 15th. The shares were sold at an average price of $64.75, for a total transaction of $38,850.00. Following the completion of the transaction, the chief executive officer now owns 235,766 shares of the company’s stock, valued at $15,265,848.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,000 shares of company stock valued at $4,195,155. Company insiders own 0.52% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Bank of Nova Scotia boosted its position in Xilinx by 922.4% in the first quarter. Bank of Nova Scotia now owns 57,295 shares of the programmable devices maker’s stock valued at $3,317,000 after buying an additional 51,691 shares in the last quarter. Janus Capital Management LLC boosted its position in Xilinx by 12.1% in the first quarter. Janus Capital Management LLC now owns 7,066,192 shares of the programmable devices maker’s stock valued at $409,062,000 after buying an additional 764,384 shares in the last quarter. Platinum Investment Management Ltd. purchased a new position in Xilinx during the first quarter valued at about $648,000. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in Xilinx by 30.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 5,231 shares of the programmable devices maker’s stock valued at $303,000 after buying an additional 1,231 shares in the last quarter. Finally, Oak Associates Ltd. OH boosted its position in Xilinx by 13.3% in the first quarter. Oak Associates Ltd. OH now owns 643,714 shares of the programmable devices maker’s stock valued at $37,265,000 after buying an additional 75,535 shares in the last quarter. Hedge funds and other institutional investors own 92.43% of the company’s stock.
Xilinx, Inc (Xilinx) is engaged in designing and developing programmable devices and associated technologies. The Company’s programmable devices and associated technologies include integrated circuits (ICs) in the form of programmable logic devices (PLDs), including programmable System on Chips (SoCs) and three-dimensional ICs (3D ICs); software design tools to program the PLDs; targeted reference designs; printed circuit boards, and intellectual property (IP), which consists of Xilinx, and various third-party verification and IP cores.
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