Zacks: Brokerages Expect Xilinx, Inc. (XLNX) to Post $0.60 Earnings Per Share
Wall Street brokerages forecast that Xilinx, Inc. (NASDAQ:XLNX) will report earnings of $0.60 per share for the current fiscal quarter, according to Zacks Investment Research. Nine analysts have made estimates for Xilinx’s earnings, with estimates ranging from $0.59 to $0.62. Xilinx reported earnings of $0.61 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 1.6%. The firm is scheduled to issue its next earnings report after the market closes on Wednesday, July 26th.
On average, analysts expect that Xilinx will report full year earnings of $2.49 per share for the current financial year, with EPS estimates ranging from $2.43 to $2.58. For the next year, analysts forecast that the business will report earnings of $2.76 per share, with EPS estimates ranging from $2.60 to $2.90. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Xilinx.
Xilinx (NASDAQ:XLNX) last issued its quarterly earnings results on Wednesday, April 26th. The programmable devices maker reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.03. Xilinx had a return on equity of 24.65% and a net margin of 25.17%. The company had revenue of $609.50 million for the quarter, compared to analysts’ expectations of $605.25 million. During the same period last year, the firm earned $0.54 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis.
Several brokerages have commented on XLNX. Vetr cut shares of Xilinx from a “buy” rating to a “hold” rating and set a $69.47 target price for the company. in a research report on Monday. Pacific Crest reiterated an “overweight” rating and set a $70.00 target price on shares of Xilinx in a research report on Wednesday, June 21st. Raymond James Financial, Inc. reiterated a “mkt perform” rating on shares of Xilinx in a research report on Friday, June 16th. Zacks Investment Research cut shares of Xilinx from a “buy” rating to a “hold” rating in a research report on Monday, May 1st. Finally, BidaskClub upgraded shares of Xilinx from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $62.47.
Xilinx (XLNX) traded down 1.94% during midday trading on Tuesday, hitting $66.05. The stock had a trading volume of 1,405,560 shares. Xilinx has a one year low of $43.50 and a one year high of $68.55. The company has a market cap of $16.38 billion, a P/E ratio of 28.47 and a beta of 1.09. The stock’s 50-day moving average is $65.30 and its 200-day moving average is $60.29.
The business also recently announced a quarterly dividend, which was paid on Thursday, June 1st. Investors of record on Tuesday, May 16th were paid a $0.35 dividend. The ex-dividend date was Friday, May 12th. This is a positive change from Xilinx’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a yield of 2.08%. Xilinx’s dividend payout ratio is presently 60.61%.
In related news, CEO Moshe Gavrielov sold 25,400 shares of the company’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $64.08, for a total value of $1,627,632.00. Following the completion of the transaction, the chief executive officer now directly owns 282,466 shares of the company’s stock, valued at approximately $18,100,421.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Krishna Rangasayee sold 15,000 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $64.89, for a total transaction of $973,350.00. Following the completion of the transaction, the insider now directly owns 15,555 shares of the company’s stock, valued at $1,009,363.95. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,000 shares of company stock valued at $4,862,471. Company insiders own 0.40% of the company’s stock.
A number of institutional investors have recently made changes to their positions in XLNX. Vanguard Group Inc. raised its position in shares of Xilinx by 3.1% in the first quarter. Vanguard Group Inc. now owns 27,030,100 shares of the programmable devices maker’s stock worth $1,564,772,000 after buying an additional 812,627 shares during the last quarter. First Eagle Investment Management LLC increased its position 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 worth $786,012,000 after buying an additional 525,371 shares in the last quarter. Alliancebernstein L.P. increased its position 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 worth $571,899,000 after buying an additional 358,064 shares in the last quarter. Janus Capital Management LLC increased 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 worth $409,062,000 after buying an additional 764,384 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in Xilinx by 9.8% in the first quarter. Clearbridge Investments LLC now owns 4,647,433 shares of the programmable devices maker’s stock worth $269,040,000 after buying an additional 413,912 shares in the last quarter. 94.88% of the stock is owned by hedge funds and other institutional investors.
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Xilinx Company Profile
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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