Xilinx’s (XLNX) Reduce Rating Reiterated at Instinet
Xilinx, Inc. (NASDAQ:XLNX)‘s stock had its “reduce” rating reaffirmed by analysts at Instinet in a report issued on Wednesday. They presently have a $50.00 price target on the programmable devices maker’s stock, up from their previous price target of $45.00. Instinet’s price target suggests a potential downside of 22.41% from the stock’s current price.
XLNX has been the topic of several other reports. Vetr cut Xilinx from a “buy” rating to a “hold” rating and set a $62.15 price objective on the stock. in a report on Monday, March 13th. Macquarie assumed coverage on Xilinx in a report on Thursday, March 30th. They issued a “neutral” rating and a $60.00 price objective on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $72.00 price objective on shares of Xilinx in a report on Wednesday, May 17th. Zacks Investment Research upgraded Xilinx from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a report on Tuesday, January 24th. Finally, Robert W. Baird lifted their price objective on Xilinx from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, April 28th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $61.74.
Shares of Xilinx (NASDAQ:XLNX) traded up 0.73% during trading on Wednesday, hitting $64.44. The stock had a trading volume of 2,979,308 shares. Xilinx has a 12-month low of $43.50 and a 12-month high of $67.75. The firm has a market cap of $15.98 billion, a P/E ratio of 27.78 and a beta of 1.15. The firm has a 50 day moving average price of $61.33 and a 200 day moving average price of $58.52. Xilinx also saw unusually large options trading on Monday. Traders purchased 5,435 put options on the stock. This represents an increase of 210% compared to the typical daily volume of 1,756 put options.
Xilinx (NASDAQ:XLNX) last posted its quarterly earnings data on Wednesday, April 26th. The programmable devices maker reported $0.57 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.03. Xilinx had a return on equity of 23.89% and a net margin of 26.58%. The company had revenue of $609.50 million for the quarter, compared to analysts’ expectations of $605.25 million. During the same period in the previous year, the firm posted $0.54 EPS. Xilinx’s revenue was up 6.7% compared to the same quarter last year. On average, equities analysts expect that Xilinx will post $2.48 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Tuesday, May 16th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.17%. The ex-dividend date is Friday, May 12th. This is an increase from Xilinx’s previous quarterly dividend of $0.33. Xilinx’s dividend payout ratio (DPR) is 57.89%.
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In related news, CEO Moshe Gavrielov sold 400 shares of Xilinx stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $67.73, for a total value of $27,092.00. Following the completion of the sale, the chief executive officer now owns 235,366 shares in the company, valued at approximately $15,941,339.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Krishna Rangasayee sold 15,000 shares of Xilinx stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $64.89, for a total transaction of $973,350.00. Following the completion of the sale, the insider now owns 15,555 shares of the company’s stock, valued at approximately $1,009,363.95. The disclosure for this sale can be found here. Insiders sold a total of 65,400 shares of company stock valued at $4,222,247 in the last quarter. 0.52% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in Xilinx by 3.1% in the first quarter. Vanguard Group Inc. now owns 27,030,100 shares of the programmable devices maker’s stock valued at $1,564,772,000 after buying an additional 812,627 shares during the period. First Eagle Investment Management LLC increased its stake in Xilinx by 4.0% in the first quarter. First Eagle Investment Management LLC now owns 13,577,684 shares of the programmable devices maker’s stock valued at $786,012,000 after buying an additional 525,371 shares during the period. Capital Research Global Investors increased its stake in Xilinx by 5.1% in the third quarter. Capital Research Global Investors now owns 10,080,560 shares of the programmable devices maker’s stock valued at $547,778,000 after buying an additional 490,249 shares during the period. Alliancebernstein L.P. increased its stake in Xilinx by 3.8% in the first quarter. Alliancebernstein L.P. now owns 9,879,067 shares of the programmable devices maker’s stock valued at $571,899,000 after buying an additional 358,064 shares during the period. Finally, Janus Capital Management LLC increased its stake 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 during the period. 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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