Wells Fargo & Co Lowers Xilinx, Inc. (XLNX) to Market Perform

Wells Fargo & Co lowered shares of Xilinx, Inc. (NASDAQ:XLNX) from an outperform rating to a market perform rating in a research note published on Tuesday morning. Wells Fargo & Co currently has $66.00 target price on the programmable devices maker’s stock.

Several other analysts have also recently issued reports on the stock. Vetr upgraded shares of Xilinx from a hold rating to a buy rating and set a $65.52 target price on the stock in a research report on Tuesday, May 2nd. Credit Suisse Group AG upgraded shares of Xilinx from a neutral rating to an outperform rating and upped their target price for the company from $65.00 to $70.00 in a research report on Monday, April 24th. Zacks Investment Research upgraded shares of Xilinx from a hold rating to a buy rating and set a $65.00 target price on the stock in a research report on Tuesday, March 28th. Mizuho started coverage on shares of Xilinx in a research report on Thursday, March 2nd. They set a neutral rating and a $64.00 target price on the stock. Finally, Instinet restated a reduce rating on shares of Xilinx in a research report on Sunday, February 5th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of $61.74.

Analyst Recommendations for Xilinx (NASDAQ:XLNX)

Xilinx (NASDAQ:XLNX) opened at 65.43 on Tuesday. The stock’s 50 day moving average price is $61.58 and its 200-day moving average price is $58.57. Xilinx has a 52 week low of $43.50 and a 52 week high of $67.75. The company has a market capitalization of $16.23 billion, a PE ratio of 28.20 and a beta of 1.15. Xilinx also was the recipient of some unusual options trading activity on Thursday. Investors purchased 3,205 call options on the stock. This represents an increase of 491% compared to the typical daily volume of 542 call options.

Xilinx (NASDAQ:XLNX) last announced its 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. The firm had revenue of $609.50 million for the quarter, compared to analysts’ expectations of $605.25 million. Xilinx had a net margin of 26.58% and a return on equity of 23.89%. The business’s revenue was up 6.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 EPS. On average, equities research analysts predict that Xilinx will post $2.49 earnings per share for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Tuesday, May 16th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, May 12th. This is an increase from Xilinx’s previous quarterly dividend of $0.33. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.14%. Xilinx’s dividend payout ratio (DPR) is currently 57.89%.

In other news, insider Krishna Rangasayee sold 15,000 shares of the stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $64.89, for a total transaction of $973,350.00. Following the transaction, the insider now directly owns 15,555 shares in the company, valued at $1,009,363.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Moshe Gavrielov sold 15,300 shares of the stock in a transaction that occurred on Monday, May 8th. The shares were sold at an average price of $64.78, for a total transaction of $991,134.00. Following the transaction, the chief executive officer now owns 245,066 shares in the company, valued at $15,875,375.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,400 shares of company stock worth $4,222,247. Insiders own 0.52% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. TrimTabs Asset Management LLC increased its position in Xilinx by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 1,989 shares of the programmable devices maker’s stock worth $115,000 after buying an additional 936 shares in the last quarter. Whittier Trust Co. increased its position in Xilinx by 16.8% in the first quarter. Whittier Trust Co. now owns 2,683 shares of the programmable devices maker’s stock worth $155,000 after buying an additional 386 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in Xilinx by 9,866.7% in the first quarter. O Shaughnessy Asset Management LLC now owns 2,691 shares of the programmable devices maker’s stock worth $156,000 after buying an additional 2,664 shares in the last quarter. Seven Eight Capital LP acquired a new position in Xilinx during the fourth quarter worth about $159,000. Finally, First Mercantile Trust Co. increased its position in Xilinx by 12.0% in the first quarter. First Mercantile Trust Co. now owns 3,013 shares of the programmable devices maker’s stock worth $174,000 after buying an additional 324 shares in the last quarter. Hedge funds and other institutional investors own 92.43% of the company’s stock.

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.

12 Month Chart for NASDAQ:XLNX

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