Xilinx (XLNX) – Research Analysts’ Weekly Ratings Updates

A number of research firms have changed their ratings and price targets for Xilinx (NASDAQ: XLNX):

  • 8/7/2017 – Xilinx was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $70.95 price target on the stock.
  • 8/1/2017 – Xilinx was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $70.95 price target on the stock.
  • 8/1/2017 – Xilinx was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $71.00 price target on the stock. According to Zacks, “Although Xilinx’s Q1 revenues missed our estimate but year over year improvement was impressive. Going ahead, 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 quarters. 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. 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 strong headwinds.”
  • 7/31/2017 – Xilinx was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “Although Xilinx’s Q1 revenues missed our estimate but year over year improvement was impressive. Going ahead, 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 quarters. Further, we are optimistic about the company’s recent decision to tap the fast-growing cloud computing, embedded, industrial IoT, and 5G markets which are likely to boost its revenues in 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 strong headwinds.”
  • 7/27/2017 – Xilinx was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 7/27/2017 – Xilinx was given a new $75.00 price target on by analysts at Credit Suisse Group. They now have a “buy” rating on the stock.
  • 7/27/2017 – Xilinx was given a new $70.00 price target on by analysts at KeyCorp. They now have a “buy” rating on the stock.
  • 7/27/2017 – Xilinx had its “neutral” rating reaffirmed by analysts at Mizuho. They now have a $69.00 price target on the stock, up previously from $68.00.
  • 7/27/2017 – Xilinx had its “hold” rating reaffirmed by analysts at Raymond James Financial, Inc..
  • 7/27/2017 – Xilinx was given a new $65.00 price target on by analysts at Barclays PLC. They now have a “hold” rating on the stock.
  • 7/26/2017 – Xilinx was upgraded by analysts at Vetr from a “hold” rating to a “buy” rating. They now have a $70.95 price target on the stock.
  • 7/26/2017 – Xilinx had its “hold” rating reaffirmed by analysts at Rosenblatt Securities. They wrote, “We expect to Xilinx to report June quarter sales and EPS of $615 million (up 0.9% q/q) and $0.60 respectively which are also consensus. Outlook we ex- pect for the September quarter we view as flat-to-down in terms of sales which is seasonal off of stable communications business and continued positive trends in the company’s Advanced Products which are gaining share in the broader FPGA market segments in our opinion.””
  • 7/20/2017 – Xilinx had its “hold” rating reaffirmed by analysts at Vetr.
  • 7/19/2017 – Xilinx was downgraded by analysts at BidaskClub from a “strong-buy” rating to a “buy” rating.
  • 7/18/2017 – Xilinx was upgraded by analysts at Barclays PLC from an “underweight” rating to an “equal weight” rating. They now have a $60.00 price target on the stock, up previously from $53.00.
  • 7/10/2017 – Xilinx was upgraded by analysts at Jefferies Group LLC from a “hold” rating to a “buy” rating. They now have a $77.00 price target on the stock, up previously from $68.00.
  • 6/26/2017 – Xilinx was downgraded by analysts at Vetr from a “buy” rating to a “hold” rating. They now have a $69.47 price target on the stock.
  • 6/24/2017 – Xilinx was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 6/21/2017 – Xilinx had its “overweight” rating reaffirmed by analysts at Pacific Crest. They now have a $70.00 price target on the stock.
  • 6/19/2017 – Xilinx was upgraded by analysts at Vetr from a “sell” rating to a “buy” rating. They now have a $69.47 price target on the stock.
  • 6/16/2017 – Xilinx had its “mkt perform” rating reaffirmed by analysts at Raymond James Financial, Inc..
  • 6/12/2017 – Xilinx had its “overweight” rating reaffirmed by analysts at Morgan Stanley. They now have a $72.00 price target on the stock.

Shares of Xilinx, Inc. (XLNX) traded down 1.55% during trading on Thursday, hitting $61.77. 1,536,855 shares of the stock traded hands. The firm has a market cap of $15.36 billion, a P/E ratio of 26.40 and a beta of 1.09. The company has a 50-day moving average of $65.04 and a 200-day moving average of $61.94. Xilinx, Inc. has a 52 week low of $48.75 and a 52 week high of $68.68.

Xilinx (NASDAQ:XLNX) last issued its earnings results on Wednesday, July 26th. The programmable devices maker reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. Xilinx had a return on equity of 24.70% and a net margin of 26.22%. The company had revenue of $615.40 million for the quarter, compared to analyst estimates of $615.69 million. During the same period in the prior year, the firm earned $0.61 earnings per share. Xilinx’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, analysts forecast that Xilinx, Inc. will post $2.54 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 30th. Stockholders of record on Thursday, August 10th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date of this dividend is Tuesday, August 8th. Xilinx’s payout ratio is 60.09%.

In related news, SVP Scott Hover-Smoot sold 12,143 shares of the company’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $62.17, for a total transaction of $754,930.31. Following the completion of the sale, the senior vice president now owns 41,869 shares in the company, valued at $2,602,995.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Steven L. Glaser sold 15,788 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $63.38, for a total value of $1,000,643.44. Following the sale, the insider now owns 12,387 shares of the company’s stock, valued at approximately $785,088.06. The disclosure for this sale can be found here. Insiders have sold 38,531 shares of company stock worth $2,461,740 over the last ninety days. 0.40% of the stock is owned by insiders.

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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