Morgan Stanley Raises Xilinx (XLNX) Price Target to $78.00
Xilinx (NASDAQ:XLNX) had its price objective increased by equities researchers at Morgan Stanley from $72.00 to $78.00 in a report issued on Wednesday. The firm currently has an “overweight” rating on the programmable devices maker’s stock. Morgan Stanley’s price objective would indicate a potential upside of 15.25% from the stock’s previous close.
Other equities analysts also recently issued research reports about the company. BidaskClub downgraded Xilinx from a “hold” rating to a “sell” rating in a report on Saturday, December 2nd. Zacks Investment Research downgraded Xilinx from a “buy” rating to a “hold” rating in a report on Monday, October 30th. Robert W. Baird reiterated a “hold” rating and issued a $68.00 price objective on shares of Xilinx in a report on Friday, October 27th. Barclays increased their price objective on Xilinx from $65.00 to $67.00 and gave the stock an “equal weight” rating in a report on Thursday, October 26th. Finally, Deutsche Bank increased their price objective on Xilinx from $63.00 to $65.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $70.05.
Shares of Xilinx (NASDAQ:XLNX) traded down $0.70 during trading on Wednesday, hitting $67.68. The company had a trading volume of 1,876,400 shares, compared to its average volume of 2,597,422. The company has a debt-to-equity ratio of 0.70, a quick ratio of 9.35 and a current ratio of 9.86. The company has a market capitalization of $17,160.16, a P/E ratio of 28.85, a PEG ratio of 2.82 and a beta of 1.07. Xilinx has a one year low of $54.99 and a one year high of $75.14.
Xilinx (NASDAQ:XLNX) last announced its earnings results on Wednesday, October 25th. The programmable devices maker reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.02. The company had revenue of $620.00 million during the quarter, compared to the consensus estimate of $620.99 million. Xilinx had a return on equity of 25.17% and a net margin of 25.93%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 earnings per share. equities analysts predict that Xilinx will post 2.59 EPS for the current year.
In other Xilinx news, CFO Lorenzo Flores sold 2,828 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $74.23, for a total value of $209,922.44. Following the transaction, the chief financial officer now directly owns 28,313 shares of the company’s stock, valued at $2,101,673.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Moshe Gavrielov sold 121,400 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $70.73, for a total value of $8,586,622.00. Following the completion of the transaction, the chief executive officer now directly owns 164,304 shares in the company, valued at $11,621,221.92. The disclosure for this sale can be found here. Insiders have sold 213,127 shares of company stock worth $15,135,685 over the last ninety days. 0.40% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in XLNX. Acrospire Investment Management LLC purchased a new position in Xilinx in the second quarter worth about $103,000. Sun Life Financial INC boosted its position in Xilinx by 22,475.0% in the second quarter. Sun Life Financial INC now owns 1,806 shares of the programmable devices maker’s stock worth $116,000 after purchasing an additional 1,798 shares during the last quarter. San Francisco Sentry Investment Group CA purchased a new position in Xilinx in the third quarter worth about $117,000. Northwestern Mutual Wealth Management Co. boosted its position in Xilinx by 46.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,964 shares of the programmable devices maker’s stock worth $191,000 after purchasing an additional 936 shares during the last quarter. Finally, Comerica Securities Inc. purchased a new position in Xilinx in the second quarter worth about $202,000. 95.23% of the stock is currently owned by institutional investors and hedge funds.
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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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