Xilinx Receives Overweight Rating from JPMorgan Chase (XLNX)
Xilinx (NASDAQ: XLNX)‘s stock had its “overweight” rating reiterated by investment analysts at JPMorgan Chase in a note issued to investors on Wednesday. They currently have a $41.00 target price on the stock, up from their previous target price of $38.00.
The analysts wrote, “Yesterday, Xilinx hosted its 2013 analyst meeting in New York. The company guided F14 operating expenses above our estimates but we reiterate Xilinx as our top pick as we believe Xilinx will outgrow the semiconductor industry due to the strength in the communications end market. We remain OW Xilinx due to superior growth, secularly increasing margins, and outstanding return of capital.”
Xilinx traded up 0.51% on Wednesday, hitting $37.38. Xilinx has a 52-week low of $30.25 and a 52-week high of $39.43. The stock’s 50-day moving average is currently $37.12. The company has a market cap of $9.777 billion and a price-to-earnings ratio of 21.13.
Xilinx last released its earnings data on Thursday, January 17th. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.37 by $0.01. The company had revenue of $509.80 million for the quarter, compared to the consensus estimate of $527.66 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. The company’s quarterly revenue was down .3% on a year-over-year basis. On average, analysts predict that Xilinx will post $1.77 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at BMO Capital Markets reiterated an “outperform” rating on shares of Xilinx in a research note to investors on Wednesday. They now have a $41.00 price target on the stock. Separately, analysts at Mizuho raised their price target on shares of Xilinx from $37.00 to $39.00 in a research note to investors on Wednesday. They now have a “neutral” rating on the stock. Finally, analysts at Raymond James reiterated an “outperform” rating on shares of Xilinx in a research note to investors on Friday, March 1st. They now have a $39.00 price target on the stock.
Nine equities research analysts have rated the stock with a buy rating, two have assigned an overweight rating, and eighteen have given a hold rating to the company. Xilinx presently has an average rating of “overweight” and a consensus target price of $37.96.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, June 5th. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.69%.
Xilinx, Inc. (Xilinx) designs, develops and markets programmable platforms. These programmable platforms have a number of components, including integrated circuits (ICs) in the form of programmable logic devices (PLDs), including Extensible Processing Platforms (EPPs); 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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