Needham & Company LLC Downgrades Xilinx (XLNX) to Hold

Needham & Company LLC cut shares of Xilinx (NASDAQ:XLNX) from a buy rating to a hold rating in a report released on Thursday morning, BenzingaRatingsTable reports.

A number of other research analysts also recently commented on the stock. Goldman Sachs Group downgraded shares of Xilinx from a buy rating to a neutral rating and set a $122.00 price objective for the company. in a research note on Thursday. Mizuho raised shares of Xilinx from a neutral rating to a buy rating and set a $100.00 price objective for the company in a research note on Thursday, January 17th. BMO Capital Markets upped their price objective on shares of Xilinx to $100.00 and gave the company an outperform rating in a research note on Thursday, January 24th. Argus upped their price objective on shares of Xilinx to $130.00 and gave the company a buy rating in a research note on Friday, January 25th. Finally, KeyCorp upped their price objective on shares of Xilinx from $100.00 to $110.00 and gave the company an overweight rating in a research note on Thursday, January 24th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $115.96.

NASDAQ XLNX opened at $118.93 on Thursday. Xilinx has a 12 month low of $63.74 and a 12 month high of $141.60. The company has a debt-to-equity ratio of 0.43, a current ratio of 8.19 and a quick ratio of 4.08. The stock has a market cap of $30.11 billion, a PE ratio of 34.18, a P/E/G ratio of 2.52 and a beta of 1.18.

Xilinx (NASDAQ:XLNX) last posted its quarterly earnings data on Wednesday, April 24th. The programmable devices maker reported $0.94 EPS for the quarter, missing the Zacks’ consensus estimate of $0.96 by ($0.02). Xilinx had a net margin of 29.09% and a return on equity of 34.72%. The company had revenue of $828.36 million for the quarter, compared to analyst estimates of $826.51 million. During the same period in the prior year, the company earned $0.75 EPS. The company’s revenue was up 29.8% compared to the same quarter last year. On average, analysts expect that Xilinx will post 3.88 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Thursday, May 16th will be issued a dividend of $0.37 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.24%. This is a boost from Xilinx’s previous quarterly dividend of $0.36. Xilinx’s payout ratio is presently 41.38%.

In other news, SVP Mark Wadlington sold 2,241 shares of the business’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $133.10, for a total transaction of $298,277.10. Following the completion of the sale, the senior vice president now owns 1,834 shares in the company, valued at approximately $244,105.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is currently owned by insiders.

Large investors have recently modified their holdings of the company. Oregon Public Employees Retirement Fund boosted its holdings in Xilinx by 12,987.1% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 7,595,886 shares of the programmable devices maker’s stock worth $89,000 after acquiring an additional 7,537,845 shares during the period. FMR LLC boosted its holdings in Xilinx by 629.8% in the 4th quarter. FMR LLC now owns 4,579,088 shares of the programmable devices maker’s stock worth $390,001,000 after acquiring an additional 3,951,683 shares during the period. Bank of New York Mellon Corp boosted its holdings in Xilinx by 2.7% in the 4th quarter. Bank of New York Mellon Corp now owns 4,425,463 shares of the programmable devices maker’s stock worth $376,918,000 after acquiring an additional 116,032 shares during the period. Geode Capital Management LLC boosted its holdings in Xilinx by 13.2% in the 4th quarter. Geode Capital Management LLC now owns 3,888,197 shares of the programmable devices maker’s stock worth $330,672,000 after acquiring an additional 453,619 shares during the period. Finally, Morgan Stanley boosted its holdings in Xilinx by 2.2% in the 3rd quarter. Morgan Stanley now owns 3,687,383 shares of the programmable devices maker’s stock worth $295,618,000 after acquiring an additional 79,444 shares during the period. Institutional investors and hedge funds own 88.23% of the company’s stock.

About Xilinx

Xilinx, Inc designs and develops programmable devices and associated technologies worldwide. Its programmable devices comprise integrated circuits (ICs) in the form of programmable logic devices (PLDs), such as programmable system on chips, and three dimensional ICs; adaptive compute acceleration platform; software design tools to program the PLDs; software development environments and embedded platforms; targeted reference designs; printed circuit boards; and intellectual property (IP) core licenses covering Ethernet, memory controllers, Interlaken, and peripheral component interconnect express interfaces, as well as domain-specific IP in the areas of embedded, digital signal processing and connectivity, and market-specific IP cores.

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