Xilinx, Inc. (NASDAQ:XLNX) posted 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, Bloomberg Earnings reports. The business had revenue of $615.40 million for the quarter, compared to analyst estimates of $615.69 million. Xilinx had a return on equity of 24.70% and a net margin of 26.22%. The business’s revenue was up 7.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.61 EPS. Xilinx updated its Q2 guidance to ~$0.55-0.69 EPS.
Shares of Xilinx (NASDAQ:XLNX) traded up 0.87% during midday trading on Monday, hitting $63.83. The stock had a trading volume of 2,250,357 shares. The firm’s 50-day moving average price is $65.39 and its 200-day moving average price is $61.78. The firm has a market capitalization of $15.87 billion, a PE ratio of 27.28 and a beta of 1.09. Xilinx has a one year low of $48.75 and a one year high of $68.68.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 30th. Stockholders of record on Thursday, August 10th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 2.19%. The ex-dividend date is Tuesday, August 8th. Xilinx’s dividend payout ratio is 60.09%.
In related news, CFO Lorenzo Flores sold 9,600 shares of Xilinx stock in a transaction that occurred on Friday, June 2nd. The shares were sold at an average price of $66.69, for a total value of $640,224.00. Following the completion of the transaction, the chief financial officer now directly owns 19,058 shares in the company, valued at approximately $1,270,978.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Moshe Gavrielov sold 400 shares of Xilinx stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $67.73, for a total transaction of $27,092.00. Following the completion of the transaction, the chief executive officer now owns 235,366 shares of the company’s stock, valued at $15,941,339.18. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,231 shares of company stock worth $3,025,929. Insiders own 0.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in XLNX. DnB Asset Management AS raised its position in Xilinx by 19.2% in the first quarter. DnB Asset Management AS now owns 27,966 shares of the programmable devices maker’s stock worth $1,619,000 after buying an additional 4,500 shares in the last quarter. Farmers & Merchants Investments Inc. raised its position in Xilinx by 4.8% in the first quarter. Farmers & Merchants Investments Inc. now owns 109,210 shares of the programmable devices maker’s stock worth $6,322,000 after buying an additional 5,000 shares in the last quarter. National Pension Service raised its position in Xilinx by 1.1% in the first quarter. National Pension Service now owns 231,227 shares of the programmable devices maker’s stock worth $13,383,000 after buying an additional 2,527 shares during the period. Gulf International Bank UK Ltd raised its position in Xilinx by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 78,020 shares of the programmable devices maker’s stock worth $4,516,000 after buying an additional 1,000 shares during the period. Finally, Trust Co. of Oklahoma raised its position in Xilinx by 2.5% in the first quarter. Trust Co. of Oklahoma now owns 14,819 shares of the programmable devices maker’s stock worth $858,000 after buying an additional 361 shares during the period. Institutional investors and hedge funds own 94.61% of the company’s stock.
Several research firms recently issued reports on XLNX. Jefferies Group LLC upped their price target on Xilinx from $55.00 to $60.00 and gave the company a “hold” rating in a research report on Friday, April 28th. Pacific Crest reissued an “overweight” rating and set a $70.00 price target on shares of Xilinx in a research report on Monday, May 8th. Instinet upped their price objective on Xilinx from $45.00 to $50.00 and gave the stock a “reduce” rating in a research note on Wednesday, May 24th. Zacks Investment Research downgraded Xilinx from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, BMO Capital Markets upped their price objective on Xilinx from $66.00 to $71.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 24th. Two research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $64.57.
About Xilinx
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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