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Xilinx (NASDAQ:XLNX) Shares Gap Up on Analyst Upgrade

Posted on Tuesday, June 30th, 2020 by MarketBeat

Shares of Xilinx, Inc. (NASDAQ:XLNX) gapped up prior to trading on Wednesday after Susquehanna Bancshares raised their price target on the stock from $105.00 to $115.00. The stock had previously closed at $101.10, but opened at $98.39. Xilinx shares last traded at $94.47, with a volume of 130,485 shares trading hands.

XLNX has been the subject of several other research reports. Mizuho decreased their target price on Xilinx from $98.00 to $94.00 and set a "neutral" rating for the company in a research note on Thursday, April 23rd. ValuEngine cut Xilinx from a "buy" rating to a "hold" rating in a research note on Friday, May 1st. Wells Fargo & Co raised their target price on Xilinx from $80.00 to $90.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 23rd. Zacks Investment Research raised Xilinx from a "sell" rating to a "hold" rating and set a $92.00 target price for the company in a research note on Saturday, May 23rd. Finally, Goldman Sachs Group raised Xilinx from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $100.00 to $92.00 in a research note on Tuesday, March 24th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of "Hold" and an average target price of $99.10.

In related news, SVP Mark Wadlington sold 2,236 shares of Xilinx stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $84.57, for a total transaction of $189,098.52. Following the sale, the senior vice president now directly owns 3,959 shares in the company, valued at $334,812.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Catia Hagopian sold 1,200 shares of Xilinx stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $90.41, for a total value of $108,492.00. Following the sale, the vice president now owns 15,770 shares in the company, valued at $1,425,765.70. The disclosure for this sale can be found here. 0.20% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of the stock. Cornerstone Advisors Inc. raised its stake in shares of Xilinx by 102.3% in the first quarter. Cornerstone Advisors Inc. now owns 358 shares of the programmable devices maker's stock valued at $28,000 after buying an additional 181 shares during the period. WASHINGTON TRUST Co bought a new stake in shares of Xilinx in the first quarter valued at $37,000. Keebeck Wealth Management LLC bought a new stake in shares of Xilinx in the fourth quarter valued at $44,000. Orion Portfolio Solutions LLC bought a new stake in shares of Xilinx in the fourth quarter valued at $44,000. Finally, Ropes Wealth Advisors LLC raised its stake in shares of Xilinx by 160.0% in the first quarter. Ropes Wealth Advisors LLC now owns 650 shares of the programmable devices maker's stock valued at $51,000 after buying an additional 400 shares during the period. Institutional investors and hedge funds own 82.60% of the company's stock.

The stock has a market capitalization of $22.36 billion, a P/E ratio of 30.20, a price-to-earnings-growth ratio of 3.77 and a beta of 0.98. The company has a 50 day simple moving average of $90.82 and a 200-day simple moving average of $89.01. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.68 and a quick ratio of 2.40.

Xilinx (NASDAQ:XLNX) last issued its earnings results on Wednesday, April 22nd. The programmable devices maker reported $0.78 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.69 by $0.09. The firm had revenue of $756.00 million for the quarter, compared to analyst estimates of $751.53 million. Xilinx had a return on equity of 33.25% and a net margin of 25.07%. The business's revenue was down 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 earnings per share. As a group, equities analysts forecast that Xilinx, Inc. will post 2.71 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 3rd. Stockholders of record on Wednesday, May 13th were given a $0.38 dividend. The ex-dividend date of this dividend was Tuesday, May 12th. This is a boost from Xilinx's previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a dividend yield of 1.61%. Xilinx's payout ratio is 45.37%.

Xilinx Company Profile (NASDAQ:XLNX)

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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