Investors Buy Xilinx (XLNX) on Weakness

Investors purchased shares of Xilinx, Inc. (NASDAQ:XLNX) on weakness during trading hours on Monday. $52.50 million flowed into the stock on the tick-up and $27.43 million flowed out of the stock on the tick-down, for a money net flow of $25.07 million into the stock. Of all companies tracked, Xilinx had the 31st highest net in-flow for the day. Xilinx traded down ($0.43) for the day and closed at $77.47

Several research firms have commented on XLNX. Credit Suisse Group increased their price objective on shares of Xilinx from $85.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, October 3rd. BMO Capital Markets increased their price objective on shares of Xilinx from $80.00 to $90.00 and gave the company an “outperform” rating in a research report on Wednesday, October 3rd. Bank of America increased their price objective on shares of Xilinx from $85.00 to $95.00 and gave the company a “positive” rating in a research report on Monday, October 1st. Needham & Company LLC began coverage on shares of Xilinx in a research report on Thursday, September 27th. They set a “buy” rating and a $100.00 price objective for the company. Finally, KeyCorp increased their price objective on shares of Xilinx from $87.00 to $90.00 and gave the company an “overweight” rating in a research report on Tuesday, September 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company. Xilinx currently has an average rating of “Buy” and a consensus price target of $81.45.

The company has a market cap of $20.28 billion, a price-to-earnings ratio of 27.54, a price-to-earnings-growth ratio of 2.80 and a beta of 1.01. The company has a current ratio of 4.38, a quick ratio of 4.11 and a debt-to-equity ratio of 0.52.

Xilinx (NASDAQ:XLNX) last announced its earnings results on Wednesday, July 25th. The programmable devices maker reported $0.74 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Xilinx had a net margin of 20.52% and a return on equity of 31.63%. The business had revenue of $684.00 million for the quarter, compared to the consensus estimate of $674.46 million. During the same quarter in the prior year, the firm posted $0.63 earnings per share. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. Analysts anticipate that Xilinx, Inc. will post 3.02 earnings per share for the current fiscal year.

In related news, SVP Salil Raje sold 3,500 shares of the firm’s stock in a transaction dated Thursday, July 12th. The shares were sold at an average price of $67.89, for a total value of $237,615.00. Following the transaction, the senior vice president now owns 16,712 shares of the company’s stock, valued at approximately $1,134,577.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Emre Onder sold 1,734 shares of the firm’s stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $77.15, for a total transaction of $133,778.10. Following the completion of the transaction, the senior vice president now directly owns 1,419 shares in the company, valued at approximately $109,475.85. The disclosure for this sale can be found here. Insiders sold a total of 18,072 shares of company stock worth $1,302,378 in the last ninety days. 0.16% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of the stock. Squar Milner Financial Services LLC purchased a new position in Xilinx during the 2nd quarter valued at about $105,000. Itau Unibanco Holding S.A. purchased a new position in Xilinx during the 2nd quarter valued at about $123,000. ClariVest Asset Management LLC purchased a new position in Xilinx during the 2nd quarter valued at about $149,000. Moneta Group Investment Advisors LLC increased its position in Xilinx by 3,935.8% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 42,981 shares of the programmable devices maker’s stock valued at $179,000 after purchasing an additional 41,916 shares during the period. Finally, Piedmont Investment Advisors LLC purchased a new position in Xilinx during the 2nd quarter valued at about $187,000. 87.42% of the stock is currently owned by institutional investors.

About Xilinx (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.

See Also: Stock Symbol

Receive News & Ratings for Xilinx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Xilinx and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply