BidaskClub Downgrades Xilinx (NASDAQ:XLNX) to Hold

Xilinx (NASDAQ:XLNX) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Wednesday, BidAskClub reports.

XLNX has been the topic of several other reports. Nomura assumed coverage on shares of Xilinx in a report on Tuesday, April 2nd. They issued a “neutral” rating and a $115.00 price objective on the stock. Cowen restated a “market perform” rating and issued a $120.00 price objective (down from $130.00) on shares of Xilinx in a report on Thursday, April 25th. ValuEngine lowered shares of Xilinx from a “strong-buy” rating to a “buy” rating in a report on Monday, May 13th. Morgan Stanley boosted their price objective on shares of Xilinx from $126.00 to $134.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Finally, KeyCorp restated an “overweight” rating and issued a $140.00 price objective (up from $130.00) on shares of Xilinx in a report on Thursday, July 25th. Fourteen research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $119.52.

Shares of Xilinx stock traded down $3.42 during midday trading on Wednesday, hitting $110.04. The company had a trading volume of 1,857,664 shares, compared to its average volume of 2,724,651. Xilinx has a 12-month low of $68.76 and a 12-month high of $141.60. The business has a fifty day moving average price of $117.24. The company has a current ratio of 7.22, a quick ratio of 6.54 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $28.68 billion, a PE ratio of 31.62, a price-to-earnings-growth ratio of 2.64 and a beta of 1.27.

Xilinx (NASDAQ:XLNX) last announced its quarterly earnings data on Wednesday, July 24th. The programmable devices maker reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.94 by $0.03. Xilinx had a return on equity of 35.99% and a net margin of 29.19%. The company had revenue of $849.60 million for the quarter, compared to analyst estimates of $849.76 million. During the same quarter last year, the firm posted $0.74 EPS. The firm’s revenue for the quarter was up 24.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Xilinx will post 3.77 earnings per share for the current fiscal year.

In other news, EVP Salil Raje sold 5,000 shares of the business’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $120.78, for a total transaction of $603,900.00. Following the completion of the transaction, the executive vice president now directly owns 24,455 shares of the company’s stock, valued at $2,953,674.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Elizabeth W. Vanderslice sold 2,000 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $101.50, for a total value of $203,000.00. Following the transaction, the director now directly owns 29,483 shares of the company’s stock, valued at $2,992,524.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,821 shares of company stock valued at $2,377,587. 0.19% of the stock is currently owned by corporate insiders.

Several institutional investors have recently made changes to their positions in the company. Steward Partners Investment Advisory LLC lifted its stake in Xilinx by 4.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,956 shares of the programmable devices maker’s stock worth $230,000 after purchasing an additional 81 shares during the last quarter. Ballentine Partners LLC lifted its stake in Xilinx by 5.1% during the second quarter. Ballentine Partners LLC now owns 1,759 shares of the programmable devices maker’s stock worth $207,000 after purchasing an additional 85 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Xilinx by 0.8% during the first quarter. Louisiana State Employees Retirement System now owns 13,400 shares of the programmable devices maker’s stock worth $1,699,000 after purchasing an additional 100 shares during the last quarter. Lyell Wealth Management LP lifted its stake in Xilinx by 1.2% during the second quarter. Lyell Wealth Management LP now owns 8,212 shares of the programmable devices maker’s stock worth $968,000 after purchasing an additional 100 shares during the last quarter. Finally, Bbva Compass Bancshares Inc. lifted its stake in Xilinx by 0.7% during the first quarter. Bbva Compass Bancshares Inc. now owns 16,682 shares of the programmable devices maker’s stock worth $2,115,000 after purchasing an additional 109 shares during the last quarter. 84.79% of the stock is owned by institutional investors and hedge funds.

About Xilinx

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; adaptive compute acceleration platform; software design tools to program the PLDs; software development environments and embedded platforms; targeted reference designs; printed circuit boards; and intellectual property (IP) core licenses covering Ethernet, memory controllers, Interlaken, and peripheral component interconnect express interfaces, as well as domain-specific IP in the areas of embedded, digital signal processing and connectivity, and market-specific IP cores.

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