Investors Buy Xilinx, Inc. (XLNX) on Weakness
Traders bought shares of Xilinx, Inc. (NASDAQ:XLNX) on weakness during trading on Wednesday. $37.39 million flowed into the stock on the tick-up and $19.94 million flowed out of the stock on the tick-down, for a money net flow of $17.45 million into the stock. Of all companies tracked, Xilinx had the 31st highest net in-flow for the day. Xilinx traded down ($0.30) for the day and closed at $72.07
XLNX has been the subject of a number of recent analyst reports. KeyCorp set a $70.00 price objective on Xilinx and gave the company a “buy” rating in a research note on Thursday, July 27th. Vetr upgraded Xilinx from a “hold” rating to a “buy” rating and set a $70.95 price objective for the company in a research note on Wednesday, July 26th. Jefferies Group LLC upgraded Xilinx from a “hold” rating to a “buy” rating and upped their price objective for the company from $68.00 to $77.00 in a research note on Monday, July 10th. BidaskClub downgraded Xilinx from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Finally, Credit Suisse Group set a $75.00 price objective on Xilinx and gave the company a “buy” rating in a research note on Thursday, July 27th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have given a buy rating to the company. Xilinx has an average rating of “Hold” and a consensus price target of $66.57.
The company has a market capitalization of $18.00 billion, a price-to-earnings ratio of 30.95 and a beta of 1.10. The company has a 50-day moving average of $69.37 and a 200 day moving average of $65.01.
Xilinx (NASDAQ:XLNX) last released its quarterly earnings results on Wednesday, July 26th. The programmable devices maker reported $0.63 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.03. Xilinx had a return on equity of 24.70% and a net margin of 26.22%. The business had revenue of $615.40 million during the quarter, compared to analyst estimates of $615.69 million. During the same quarter in the previous year, the company posted $0.61 earnings per share. Xilinx’s revenue for the quarter was up 7.0% on a year-over-year basis. Analysts expect that Xilinx, Inc. will post $2.54 earnings per share for the current year.
In other Xilinx news, insider Steven L. Glaser sold 15,788 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $63.38, for a total transaction of $1,000,643.44. Following the completion of the sale, the insider now owns 12,387 shares of the company’s stock, valued at $785,088.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Scott Hover-Smoot sold 12,143 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $62.17, for a total value of $754,930.31. Following the sale, the senior vice president now directly owns 41,869 shares of the company’s stock, valued at approximately $2,602,995.73. The disclosure for this sale can be found here. Insiders have sold 209,330 shares of company stock valued at $14,598,104 in the last three months. 0.40% of the stock is currently owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the business. Acrospire Investment Management LLC bought a new position in shares of Xilinx in the second quarter worth about $103,000. Sun Life Financial INC boosted its stake in shares of Xilinx by 22,475.0% in the second quarter. Sun Life Financial INC now owns 1,806 shares of the programmable devices maker’s stock worth $116,000 after acquiring an additional 1,798 shares during the period. Huntington National Bank boosted its stake in shares of Xilinx by 217.1% in the second quarter. Huntington National Bank now owns 2,794 shares of the programmable devices maker’s stock worth $180,000 after acquiring an additional 1,913 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Xilinx by 46.2% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,964 shares of the programmable devices maker’s stock worth $191,000 after acquiring an additional 936 shares during the period. Finally, Comerica Securities Inc. bought a new position in shares of Xilinx in the second quarter worth about $202,000. 97.42% of the stock is owned by institutional investors and hedge funds.
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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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