$615.57 Million in Sales Expected for Xilinx, Inc. (XLNX) This Quarter
Wall Street brokerages expect Xilinx, Inc. (NASDAQ:XLNX) to announce sales of $615.57 million for the current quarter, Zacks reports. Nine analysts have issued estimates for Xilinx’s earnings. The highest sales estimate is $618.30 million and the lowest is $614.90 million. Xilinx posted sales of $574.98 million in the same quarter last year, which suggests a positive year over year growth rate of 7.1%. The company is scheduled to report its next quarterly earnings results after the market closes on Wednesday, July 26th.
According to Zacks, analysts expect that Xilinx will report full year sales of $615.57 million for the current fiscal year, with estimates ranging from $2.47 billion to $2.57 billion. For the next financial year, analysts anticipate that the business will post sales of $2.67 billion per share, with estimates ranging from $2.60 billion to $2.87 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Xilinx.
Xilinx (NASDAQ:XLNX) last issued its quarterly earnings results on Wednesday, April 26th. The programmable devices maker reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.03. Xilinx had a return on equity of 24.41% and a net margin of 26.50%. The firm had revenue of $609.50 million during the quarter, compared to analysts’ expectations of $605.25 million. During the same period in the previous year, the business earned $0.54 earnings per share. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis.
XLNX has been the subject of several research reports. Zacks Investment Research raised Xilinx from a “hold” rating to a “buy” rating and set a $65.00 price objective for the company in a report on Tuesday, March 28th. Macquarie initiated coverage on Xilinx in a report on Thursday, March 30th. They set a “neutral” rating and a $60.00 price objective for the company. Vetr raised Xilinx from a “buy” rating to a “strong-buy” rating and set a $64.44 price objective for the company in a report on Monday, April 3rd. Instinet reaffirmed a “reduce” rating and set a $45.00 price objective on shares of Xilinx in a report on Tuesday, April 18th. Finally, Credit Suisse Group raised Xilinx from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $65.00 to $70.00 in a report on Monday, April 24th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have given a buy rating to the stock. Xilinx has a consensus rating of “Hold” and a consensus price target of $63.27.
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In other Xilinx news, CEO Moshe Gavrielov sold 400 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $67.73, for a total transaction of $27,092.00. Following the completion of the sale, the chief executive officer now owns 235,366 shares of the company’s stock, valued at $15,941,339.18. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Lorenzo Flores sold 9,600 shares of the business’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $66.69, for a total value of $640,224.00. Following the sale, the chief financial officer now directly owns 19,058 shares of the company’s stock, valued at approximately $1,270,978.02. The disclosure for this sale can be found here. In 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 large investors have recently bought and sold shares of the stock. Winslow Capital Management LLC purchased a new position in shares of Xilinx during the first quarter valued at approximately $203,769,000. Marshall Wace North America L.P. purchased a new position in shares of Xilinx during the first quarter valued at approximately $49,023,000. 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 valued at $1,564,772,000 after buying an additional 812,627 shares in the last quarter. Pictet Asset Management Ltd. raised its position in shares of Xilinx by 631.1% in the first quarter. Pictet Asset Management Ltd. now owns 926,894 shares of the programmable devices maker’s stock valued at $53,658,000 after buying an additional 800,106 shares in the last quarter. Finally, Janus Capital Management LLC raised its position in shares of 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. 94.25% of the stock is owned by hedge funds and other institutional investors.
Shares of Xilinx (NASDAQ:XLNX) opened at 64.88 on Friday. The stock has a market capitalization of $16.09 billion, a PE ratio of 27.97 and a beta of 1.10. Xilinx has a 12 month low of $47.53 and a 12 month high of $68.68. The company’s 50 day moving average price is $65.98 and its 200 day moving average price is $61.44.
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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