Traders Buy Xilinx Inc. (XLNX) on Weakness
Traders purchased shares of Xilinx Inc. (NASDAQ:XLNX) on weakness during trading on Tuesday. $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 equities tracked, Xilinx had the 42nd highest net in-flow for the day. Xilinx traded down ($0.03) for the day and closed at $54.15
Several brokerages have recently issued reports on XLNX. Pacific Crest upped their price objective on Xilinx from $55.00 to $65.00 and gave the company an “overweight” rating in a research report on Thursday, August 18th. Zacks Investment Research lowered Xilinx from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. BMO Capital Markets reiterated a “buy” rating and issued a $60.00 target price on shares of Xilinx in a research note on Thursday, July 28th. Morgan Stanley upped their target price on Xilinx from $43.00 to $46.00 and gave the company an “equal weight” rating in a research note on Thursday, July 28th. Finally, Deutsche Bank AG upped their target price on Xilinx from $44.00 to $49.00 and gave the company a “hold” rating in a research note on Thursday, July 28th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $49.83.
The company has a 50-day moving average price of $51.02 and a 200-day moving average price of $47.54. The stock has a market cap of $13.74 billion and a P/E ratio of 25.69.
Xilinx (NASDAQ:XLNX) last released its quarterly earnings data on Wednesday, July 27th. The programmable devices maker reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. The firm had revenue of $574.90 million for the quarter, compared to analyst estimates of $571.06 million. During the same period in the previous year, the business posted $0.55 EPS. Xilinx’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts expect that Xilinx Inc. will post $2.22 earnings per share for the current year.
The company also recently disclosed 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. The ex-dividend date was Tuesday, August 9th. This represents a $1.32 dividend on an annualized basis and a yield of 2.44%.
In other Xilinx news, insider Krishna Rangasayee sold 14,821 shares of the firm’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $51.75, for a total transaction of $766,986.75. Following the transaction, the insider now directly owns 30,186 shares in the company, valued at $1,562,125.50. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Vincent Tong sold 80,000 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $51.79, for a total value of $4,143,200.00. Following the transaction, the insider now owns 107,879 shares in the company, valued at $5,587,053.41. The disclosure for this sale can be found here.
Other institutional investors recently bought and sold shares of the company. State of Tennessee Treasury Department raised its position in 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 period. I.G. Investment Management LTD. raised its position in 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 period. Finally, Marshall Wace LLP bought a new position in Xilinx during the fourth quarter valued at $1,072,000.
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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