Zacks Investment Research downgraded shares of Xilinx, Inc. (NASDAQ:XLNX) from a buy rating to a hold rating in a research report released on Monday, October 30th.
According to Zacks, “Xilinx designs and manufactures a broad range of high-performance, high-density programmable logic devices (PLDs). We believe that rising demand for 28-nm, 20-nm and 16-nm nodes is positive for the company. Moreover, favorable product mix (higher Industrial, lower wireless) will help in gross margin expansion in the forthcoming quarter. We also believe that Xilinx is well positioned to tap the opportunities arising from an increase in adoption of AI technologies, 5G connectivity, autonomous vehicles and IoTs, which will drive growth over the long-run. The company’s product launches should further aid revenues. However, growth from wireless is expected to remain volatile until 2020, which is a concern. Increasing operating expenses related to tape-outs will weigh on profitability in the near term. Moreover, management’s pessimistic view over business conditions in India and China, two of its fastest growing markets, poses headwinds.”
A number of other equities analysts also recently weighed in on XLNX. Jefferies Group LLC upgraded shares of Xilinx from a hold rating to a buy rating and boosted their target price for the stock from $68.00 to $77.00 in a report on Monday, July 10th. Barclays PLC raised shares of Xilinx from an underweight rating to an equal weight rating and lifted their price objective for the stock from $53.00 to $60.00 in a research report on Tuesday, July 18th. BidaskClub cut shares of Xilinx from a strong-buy rating to a buy rating in a research report on Wednesday, July 19th. Vetr reaffirmed a hold rating on shares of Xilinx in a research report on Thursday, July 20th. Finally, Rosenblatt Securities reissued a hold rating on shares of Xilinx in a research note on Wednesday, July 26th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $69.73.
Shares of Xilinx (XLNX) opened at $71.81 on Monday. The company has a quick ratio of 9.35, a current ratio of 9.86 and a debt-to-equity ratio of 0.70. Xilinx has a fifty-two week low of $52.54 and a fifty-two week high of $75.14. The stock has a market cap of $18,020.93, a P/E ratio of 30.30, a PEG ratio of 2.97 and a beta of 1.10.
Xilinx (NASDAQ:XLNX) last issued its earnings results on Wednesday, October 25th. The programmable devices maker reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.02. The business had revenue of $620.00 million for the quarter, compared to the consensus estimate of $620.99 million. Xilinx had a net margin of 25.93% and a return on equity of 25.17%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 earnings per share. sell-side analysts predict that Xilinx will post 2.59 EPS for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 6th. Shareholders of record on Wednesday, November 15th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Tuesday, November 14th. Xilinx’s payout ratio is 59.07%.
In related news, insider Victor Peng sold 25,000 shares of the stock in a transaction 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 legal filing with the SEC, which can be accessed through this link. Also, CEO Moshe Gavrielov sold 28,600 shares of the stock in a transaction on Friday, October 6th. The stock was sold at an average price of $71.78, for a total value of $2,052,908.00. The disclosure for this sale can be found here. Insiders have sold a total of 213,127 shares of company stock worth $15,135,685 over the last 90 days. Company insiders own 0.40% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Acrospire Investment Management LLC bought a new position in shares of Xilinx in the 2nd quarter worth $103,000. San Francisco Sentry Investment Group CA bought a new position in shares of Xilinx in the 3rd quarter worth $117,000. Sun Life Financial INC lifted its holdings in shares of Xilinx by 22,475.0% in the 2nd 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 in the last quarter. Huntington National Bank lifted its holdings in shares of Xilinx by 217.1% in the 2nd quarter. Huntington National Bank now owns 2,794 shares of the programmable devices maker’s stock worth $180,000 after purchasing an additional 1,913 shares in the last quarter. Finally, Pictet North America Advisors SA bought a new position in shares of Xilinx in the 3rd quarter worth $207,000. Institutional investors own 96.11% of the company’s stock.
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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