Zacks Investment Research upgraded shares of Xilinx (NASDAQ:XLNX) from a hold rating to a buy rating in a research note issued to investors on Saturday. Zacks Investment Research currently has $79.00 price objective on the programmable devices maker’s stock.
According to Zacks, “Xilinx designs and manufactures a broad range of high-performance, high-density programmable logic devices. Estimates for the company have remained stable of late. Moreover, the stock has outperformed the S&P 500 in the year-to-date period. 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 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. Nonetheless, the company’s two biggest markets, India and China, are still facing the challenge of slow wireless deployments, which makes us slightly cautious about its Communication business.”
A number of other research firms also recently weighed in on XLNX. Goldman Sachs raised shares of Xilinx from a neutral rating to a buy rating in a research report on Friday, January 5th. JPMorgan Chase downgraded shares of Xilinx from a neutral rating to an underweight rating and set a $73.00 target price for the company. in a research report on Friday. BidaskClub raised shares of Xilinx from a sell rating to a hold rating in a research report on Saturday, January 6th. SunTrust Banks raised their target price on shares of Xilinx to $79.00 and gave the company an outperform rating in a research report on Thursday, January 25th. Finally, Bank of America lifted their price objective on shares of Xilinx from $61.00 to $70.00 and gave the company an underperform rating in a research report on Thursday, January 25th. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of Hold and an average target price of $74.16.
Xilinx stock opened at $66.73 on Friday. The firm has a market capitalization of $16,894.25, a P/E ratio of 28.76, a price-to-earnings-growth ratio of 2.46 and a beta of 1.09. Xilinx has a 1-year low of $54.99 and a 1-year high of $78.02. The company has a quick ratio of 8.59, a current ratio of 9.08 and a debt-to-equity ratio of 0.73.
Xilinx (NASDAQ:XLNX) last released its earnings results on Wednesday, January 24th. The programmable devices maker reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.58). The business had revenue of $631.00 million during the quarter, compared to the consensus estimate of $630.00 million. Xilinx had a net margin of 20.20% and a return on equity of 27.61%. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. During the same period last year, the business posted $0.52 EPS. research analysts anticipate that Xilinx will post 2.65 earnings per share for the current year.
In other news, SVP Scott Hover-Smoot sold 4,300 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $71.72, for a total transaction of $308,396.00. Following the completion of the sale, the senior vice president now owns 37,569 shares in the company, valued at approximately $2,694,448.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Vincent Tong sold 19,687 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $73.52, for a total transaction of $1,447,388.24. Following the sale, the insider now owns 55,403 shares of the company’s stock, valued at approximately $4,073,228.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,987 shares of company stock valued at $3,271,984. 0.40% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of XLNX. NuWave Investment Management LLC acquired a new stake in shares of Xilinx during the 4th quarter worth about $102,000. Tower Research Capital LLC TRC acquired a new stake in shares of Xilinx during the 4th quarter worth about $106,000. Old Mutual Global Investors UK Ltd. acquired a new stake in shares of Xilinx during the 4th quarter worth about $116,000. Cerebellum GP LLC acquired a new stake in shares of Xilinx during the 4th quarter worth about $126,000. Finally, SeaCrest Wealth Management LLC acquired a new stake in shares of Xilinx during the 4th quarter worth about $137,000. Institutional investors own 91.64% of the company’s stock.
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Xilinx Company Profile
Xilinx, Inc designs and develops programmable devices and associated technologies worldwide. Its programmable devices comprise integrated circuits (ICs) in the form of programmable logic devices (PLDs), such as programmable system on chips, and three dimensional ICs; software design tools to program the PLDs; software development environments and embedded platforms; targeted reference designs; printed circuit boards; and intellectual property (IP).
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