Xilinx, Inc. (NASDAQ:XLNX) Posts Quarterly Earnings Results, Beats Estimates By $0.03 EPS
Xilinx, Inc. (NASDAQ:XLNX) announced its earnings results on Wednesday. The programmable devices maker reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.03, RTT News reports. The business had revenue of $615.40 million during the quarter, compared to the consensus estimate of $615.69 million. Xilinx had a net margin of 26.50% and a return on equity of 24.41%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 earnings per share. Xilinx updated its Q2 guidance to ~$0.55-0.69 EPS.
Xilinx (NASDAQ XLNX) traded up 1.33% during mid-day trading on Wednesday, hitting $65.32. 3,062,639 shares of the company traded hands. The company’s 50-day moving average price is $65.85 and its 200 day moving average price is $61.54. Xilinx has a one year low of $48.53 and a one year high of $68.68. The company has a market capitalization of $16.20 billion, a price-to-earnings ratio of 28.16 and a beta of 1.10.
A number of research firms have commented on XLNX. Zacks Investment Research upgraded shares of Xilinx from a “hold” rating to a “buy” rating and set a $65.00 price objective on the stock in a research note on Tuesday, March 28th. Macquarie began coverage on shares of Xilinx in a research note on Thursday, March 30th. They set a “neutral” rating and a $60.00 price objective on the stock. Vetr upgraded shares of Xilinx from a “buy” rating to a “strong-buy” rating and set a $64.44 price objective on the stock in a research note on Monday, April 3rd. Instinet reiterated a “reduce” rating and set a $45.00 price objective on shares of Xilinx in a research note on Tuesday, April 18th. Finally, Credit Suisse Group upgraded shares of Xilinx from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $65.00 to $70.00 in a research note on Monday, April 24th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company. Xilinx has an average rating of “Hold” and a consensus price target of $63.27.
In related news, insider Krishna Rangasayee sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Lorenzo Flores sold 9,600 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $66.69, for a total value of $640,224.00. Following the completion of the transaction, the chief financial officer now owns 19,058 shares of the company’s stock, valued at $1,270,978.02. 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. 0.40% of the stock is currently owned by company insiders.
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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