Zacks: Analysts Anticipate Xilinx, Inc. (XLNX) Will Announce Quarterly Sales of $620.40 Million
Analysts forecast that Xilinx, Inc. (NASDAQ:XLNX) will post sales of $620.40 million for the current quarter, according to Zacks. Nine analysts have issued estimates for Xilinx’s earnings, with the lowest sales estimate coming in at $619.97 million and the highest estimate coming in at $621.80 million. Xilinx posted sales of $579.21 million in the same quarter last year, which suggests a positive year-over-year growth rate of 7.1%. The company is scheduled to report its next quarterly earnings results on Wednesday, October 18th.
On average, analysts expect that Xilinx will report full-year sales of $620.40 million for the current year, with estimates ranging from $2.49 billion to $2.57 billion. For the next fiscal year, analysts expect that the business will post sales of $2.66 billion per share, with estimates ranging from $2.60 billion to $2.87 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for Xilinx.
Xilinx (NASDAQ:XLNX) last released its earnings results on Wednesday, July 26th. The programmable devices maker reported $0.63 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.03. The firm had revenue of $615.40 million for the quarter, compared to the consensus estimate of $615.69 million. Xilinx had a net margin of 26.22% and a return on equity of 24.70%. The company’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 EPS.
XLNX has been the topic of several analyst reports. Zacks Investment Research upgraded Xilinx from a “hold” rating to a “buy” rating and set a $67.00 target price on the stock in a research note on Friday, April 28th. Vetr upgraded Xilinx from a “hold” rating to a “buy” rating and set a $65.52 target price on the stock in a research note on Tuesday, May 2nd. Credit Suisse Group reiterated a “buy” rating on shares of Xilinx in a research note on Wednesday, May 24th. Jefferies Group LLC upgraded Xilinx from a “hold” rating to a “buy” rating and lifted their target price for the company from $68.00 to $77.00 in a research note on Monday, July 10th. Finally, BidaskClub lowered Xilinx from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have assigned a buy rating to the company. Xilinx presently has a consensus rating of “Hold” and an average price target of $64.57.
Shares of Xilinx (NASDAQ XLNX) opened at 62.42 on Friday. The stock has a 50 day moving average of $64.80 and a 200-day moving average of $61.97. Xilinx has a 52-week low of $48.75 and a 52-week high of $68.68. The stock has a market capitalization of $15.52 billion, a P/E ratio of 26.68 and a beta of 1.09.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 30th. Investors of record on Thursday, August 10th will be issued a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Tuesday, August 8th. Xilinx’s dividend payout ratio (DPR) is 60.09%.
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In other Xilinx news, insider Steven L. Glaser sold 15,788 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 12,387 shares of the company’s stock, valued at $785,088.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Scott Hover-Smoot sold 12,143 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $62.17, for a total value of $754,930.31. Following the completion of the transaction, the senior vice president now directly owns 41,869 shares of the company’s stock, valued at $2,602,995.73. The disclosure for this sale can be found here. Insiders have sold 38,531 shares of company stock valued at $2,461,740 in the last ninety days. Corporate insiders own 0.40% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Korea Investment CORP increased its position in shares of Xilinx by 3.4% in the first quarter. Korea Investment CORP now owns 160,872 shares of the programmable devices maker’s stock worth $9,313,000 after buying an additional 5,273 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its position in shares of Xilinx by 2.6% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 6,734 shares of the programmable devices maker’s stock worth $364,000 after buying an additional 172 shares during the last quarter. Nationwide Fund Advisors increased its position in shares of Xilinx by 86.1% in the first quarter. Nationwide Fund Advisors now owns 222,164 shares of the programmable devices maker’s stock worth $12,861,000 after buying an additional 102,779 shares during the last quarter. Candriam Luxembourg S.C.A. increased its position in shares of Xilinx by 130.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 267,440 shares of the programmable devices maker’s stock worth $15,483,000 after buying an additional 151,142 shares during the last quarter. Finally, Westwood Management Corp IL bought a new position in shares of Xilinx during the first quarter worth about $579,000. 94.61% of the stock is owned by institutional investors.
Xilinx Company Profile
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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