Xilinx (XLNX) Cut to “Sell” at BidaskClub

Xilinx (NASDAQ:XLNX) was downgraded by equities researchers at BidaskClub from a “hold” rating to a “sell” rating in a research note issued on Thursday.

Several other research firms have also recently weighed in on XLNX. Goldman Sachs Group upgraded Xilinx from a “neutral” rating to a “buy” rating in a report on Friday, January 5th. Zacks Investment Research upgraded Xilinx from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a report on Friday, October 27th. MKM Partners boosted their price target on Xilinx from $63.00 to $78.00 and gave the stock a “neutral” rating in a report on Sunday, October 8th. KeyCorp set a $78.00 price target on Xilinx and gave the stock a “buy” rating in a report on Wednesday, October 11th. Finally, Deutsche Bank boosted their price target on Xilinx from $63.00 to $65.00 and gave the stock a “hold” rating in a report on Thursday, October 26th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $73.45.

Shares of Xilinx (XLNX) traded up $2.20 during midday trading on Thursday, reaching $71.94. The company’s stock had a trading volume of 4,827,818 shares, compared to its average volume of 2,340,000. The company has a debt-to-equity ratio of 0.73, a quick ratio of 9.35 and a current ratio of 9.08. The firm has a market capitalization of $18,620.00, a P/E ratio of 37.86, a price-to-earnings-growth ratio of 2.86 and a beta of 1.08. Xilinx has a 12-month low of $54.99 and a 12-month high of $77.26.

Xilinx (NASDAQ:XLNX) last issued its earnings results on Wednesday, January 24th. The programmable devices maker reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.63 by ($0.58). The business had revenue of $631.00 million for the quarter, compared to analyst estimates of $630.00 million. Xilinx had a return on equity of 27.61% and a net margin of 20.20%. The firm’s revenue was up 7.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 EPS. equities research analysts forecast that Xilinx will post 2.61 EPS for the current year.

In other Xilinx news, insider Victor Peng sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $72.00, for a total value of $1,800,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Moshe Gavrielov sold 1,400 shares of the business’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $73.38, for a total value of $102,732.00. Following the completion of the transaction, the chief executive officer now directly owns 111,413 shares in the company, valued at $8,175,485.94. The disclosure for this sale can be found here. Insiders sold 51,728 shares of company stock worth $3,809,354 over the last quarter. 0.40% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the business. Mutual of America Capital Management LLC raised its position in shares of Xilinx by 4.4% during the second quarter. Mutual of America Capital Management LLC now owns 35,209 shares of the programmable devices maker’s stock worth $2,265,000 after purchasing an additional 1,482 shares during the period. FMR LLC grew its stake in Xilinx by 1.2% in the 2nd quarter. FMR LLC now owns 1,339,906 shares of the programmable devices maker’s stock valued at $86,182,000 after purchasing an additional 15,780 shares during the period. M&T Bank Corp grew its stake in Xilinx by 11.1% in the 2nd quarter. M&T Bank Corp now owns 25,506 shares of the programmable devices maker’s stock valued at $1,641,000 after purchasing an additional 2,555 shares during the period. Ark Investment Management LLC grew its stake in Xilinx by 112.1% in the 2nd quarter. Ark Investment Management LLC now owns 173,041 shares of the programmable devices maker’s stock valued at $11,130,000 after purchasing an additional 91,460 shares during the period. Finally, Cibc World Markets Corp grew its stake in shares of Xilinx by 95.7% during the 2nd quarter. Cibc World Markets Corp now owns 53,456 shares of the programmable devices maker’s stock worth $3,438,000 after acquiring an additional 26,138 shares during the period. 94.95% of the stock is currently owned by hedge funds and other institutional investors.

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About Xilinx

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.

Analyst Recommendations for Xilinx (NASDAQ:XLNX)

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