Traders Buy Shares of Xilinx Inc. (XLNX) on Weakness
Investors purchased shares of Xilinx Inc. (NASDAQ:XLNX) on weakness during trading on Monday. $15.99 million flowed into the stock on the tick-up and $9.92 million flowed out of the stock on the tick-down, for a money net flow of $6.07 million into the stock. Of all companies tracked, Xilinx had the 17th highest net in-flow for the day. Xilinx traded down ($0.03) for the day and closed at $54.15
A number of equities analysts have weighed in on XLNX shares. Zacks Investment Research lowered Xilinx from a “hold” rating to a “sell” rating in a research report on Wednesday, June 29th. Wells Fargo & Co. reissued a “buy” rating on shares of Xilinx in a research report on Wednesday, July 6th. Jefferies Group boosted their target price on Xilinx from $48.00 to $50.00 and gave the stock a “hold” rating in a research report on Thursday, July 28th. Robert W. Baird reissued an “outperform” rating and issued a $52.00 target price on shares of Xilinx in a research report on Wednesday, May 25th. Finally, Morgan Stanley boosted their target price on Xilinx from $43.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $49.83.
The company has a market cap of $13.73 billion and a P/E ratio of 25.68. The firm’s 50 day moving average is $50.83 and its 200-day moving average is $47.49.
Xilinx (NASDAQ:XLNX) last announced its quarterly earnings results on Wednesday, July 27th. The programmable devices maker reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.05. During the same quarter in the prior year, the business posted $0.55 earnings per share. The company had revenue of $574.90 million for the quarter, compared to analysts’ expectations of $571.06 million. The firm’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts forecast that Xilinx Inc. will post $2.22 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 24th. Investors of record on Thursday, August 11th were given a dividend of $0.33 per share. This represents a $1.32 annualized dividend and a yield of 2.44%. The ex-dividend date was Tuesday, August 9th.
In related news, Director Marshall C. Turner sold 16,000 shares of Xilinx stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $50.00, for a total transaction of $800,000.00. Following the completion of the transaction, the director now directly owns 49,384 shares in the company, valued at $2,469,200. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William G. Howard, Jr. sold 12,000 shares of Xilinx stock in a transaction that occurred on Monday, August 1st. The shares were sold at an average price of $51.15, for a total value of $613,800.00. Following the transaction, the director now owns 12,000 shares of the company’s stock, valued at $613,800. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors recently made changes to their positions in XLNX. State of Tennessee Treasury Department raised its stake in shares of Xilinx by 351.8% in the fourth quarter. State of Tennessee Treasury Department now owns 182,066 shares of the programmable devices maker’s stock valued at $8,551,000 after buying an additional 141,766 shares during the last quarter. I.G. Investment Management LTD. raised its stake in shares of Xilinx by 20.3% in the fourth quarter. I.G. Investment Management LTD. now owns 42,750 shares of the programmable devices maker’s stock valued at $2,008,000 after buying an additional 7,200 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of Xilinx during the fourth quarter valued at approximately $1,072,000. Finally, Stephens Investment Management Group LLC raised its stake in shares of Xilinx by 11.3% in the fourth quarter. Stephens Investment Management Group LLC now owns 28,550 shares of the programmable devices maker’s stock valued at $1,341,000 after buying an additional 2,895 shares during the last quarter.
Xilinx, Inc (Xilinx) designs and develops programmable devices and associated technologies. The Company’s programmable devices and associated technologies include integrated circuits (IC) in the form of programmable logic devices (PLD); software design tools to program the PLDs; targeted reference designs; printed circuit boards, and intellectual property (IP), which consists of Xilinx, and third-party verification and IP cores.
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