KeyCorp set a $70.00 price objective on Xilinx, Inc. (NASDAQ:XLNX) in a research note published on Thursday, July 27th. The brokerage currently has a buy rating on the programmable devices maker’s stock. KeyCorp also issued estimates for Xilinx’s Q2 2018 earnings at $0.60 EPS, Q3 2018 earnings at $0.63 EPS, Q4 2018 earnings at $0.69 EPS, FY2018 earnings at $2.63 EPS, Q1 2019 earnings at $0.73 EPS, Q1 2019 earnings at $0.75 EPS, Q2 2019 earnings at $0.69 EPS, Q2 2019 earnings at $0.71 EPS, Q3 2019 earnings at $0.68 EPS, Q3 2019 earnings at $0.70 EPS, Q4 2019 earnings at $0.74 EPS, Q4 2019 earnings at $0.72 EPS and FY2019 earnings at $2.90 EPS.
Several other research firms have also recently commented on XLNX. BidaskClub upgraded Xilinx from a buy rating to a strong-buy rating in a report on Saturday, June 24th. Vetr cut Xilinx from a buy rating to a hold rating and set a $69.47 target price for the company. in a report on Monday, June 26th. Wells Fargo & Company cut Xilinx from an outperform rating to a market perform rating and set a $66.00 target price for the company. in a report on Tuesday, May 23rd. Barclays PLC upgraded Xilinx from an underweight rating to an equal weight rating and boosted their target price for the stock from $53.00 to $60.00 in a report on Tuesday, July 18th. Finally, Pacific Crest reiterated an overweight rating and set a $70.00 target price on shares of Xilinx in a report on Friday, May 19th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and ten have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus price target of $64.57.
Shares of Xilinx (NASDAQ XLNX) opened at 62.74 on Thursday. The stock has a 50 day moving average of $65.22 and a 200 day moving average of $61.80. The stock has a market capitalization of $15.60 billion, a P/E ratio of 26.81 and a beta of 1.09. Xilinx has a 12-month low of $48.75 and a 12-month high of $68.68.
Xilinx (NASDAQ:XLNX) last posted its quarterly earnings results on Wednesday, July 26th. The programmable devices maker reported $0.63 EPS for the quarter, beating the consensus estimate of $0.60 by $0.03. The company had revenue of $615.40 million during the quarter, compared to analysts’ expectations of $615.69 million. Xilinx had a return on equity of 24.70% and a net margin of 26.22%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 EPS. Equities research analysts anticipate that Xilinx will post $2.54 EPS for the current fiscal year.
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The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Thursday, August 10th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Tuesday, August 8th. Xilinx’s dividend payout ratio is currently 60.09%.
In related news, CFO Lorenzo Flores sold 9,600 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $66.69, for a total transaction of $640,224.00. Following the sale, the chief financial officer now directly owns 19,058 shares of the company’s stock, valued at approximately $1,270,978.02. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Steven L. Glaser sold 15,788 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $63.38, for a total value of $1,000,643.44. Following the sale, the insider now directly owns 12,387 shares in the company, valued at $785,088.06. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,531 shares of company stock worth $2,461,740. Corporate insiders own 0.40% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Quantitative Systematic Strategies LLC bought a new position in shares of Xilinx during the first quarter worth approximately $269,000. DnB Asset Management AS increased its position in shares of Xilinx by 19.2% in the first quarter. DnB Asset Management AS now owns 27,966 shares of the programmable devices maker’s stock worth $1,619,000 after buying an additional 4,500 shares during the last quarter. Farmers & Merchants Investments Inc. increased its position in shares of Xilinx by 4.8% in the first quarter. Farmers & Merchants Investments Inc. now owns 109,210 shares of the programmable devices maker’s stock worth $6,322,000 after buying an additional 5,000 shares during the last quarter. National Pension Service increased its position in shares of Xilinx by 1.1% in the first quarter. National Pension Service now owns 231,227 shares of the programmable devices maker’s stock worth $13,383,000 after buying an additional 2,527 shares during the last quarter. Finally, Gulf International Bank UK Ltd increased its position in shares of Xilinx by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 78,020 shares of the programmable devices maker’s stock worth $4,516,000 after buying an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 94.61% of the company’s stock.
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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