Jefferies Group Comments on Xilinx, Inc.’s Q2 2018 Earnings (XLNX)
Xilinx, Inc. (NASDAQ:XLNX) – Analysts at Jefferies Group increased their Q2 2018 earnings per share estimates for shares of Xilinx in a note issued to investors on Monday. Jefferies Group analyst M. Lipacis now forecasts that the programmable devices maker will post earnings of $0.60 per share for the quarter, up from their prior forecast of $0.57. Jefferies Group has a “Buy” rating and a $77.00 price objective on the stock. Jefferies Group also issued estimates for Xilinx’s Q3 2019 earnings at $0.79 EPS, Q4 2019 earnings at $0.83 EPS, FY2019 earnings at $3.09 EPS and FY2020 earnings at $3.37 EPS.
Xilinx (NASDAQ:XLNX) last announced its quarterly earnings data on Wednesday, April 26th. The programmable devices maker reported $0.57 EPS for the quarter, topping the consensus estimate of $0.54 by $0.03. The company had revenue of $609.50 million during the quarter, compared to the consensus estimate of $605.25 million. Xilinx had a net margin of 26.50% and a return on equity of 24.41%. The company’s quarterly revenue was up 6.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 EPS.
Several other equities research analysts have also recently weighed in on the company. Wells Fargo & Company cut Xilinx from an “outperform” rating to a “market perform” rating and set a $66.00 price target on the stock. in a research note on Tuesday, May 23rd. Vetr raised Xilinx from a “hold” rating to a “buy” rating and set a $65.52 price target on the stock in a report on Tuesday, May 2nd. Credit Suisse Group raised Xilinx from a “neutral” rating to an “outperform” rating and upped their price target for the company from $65.00 to $70.00 in a report on Monday, April 24th. Zacks Investment Research raised Xilinx from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a report on Tuesday, March 28th. Finally, Mizuho reaffirmed a “hold” rating and issued a $64.00 price objective on shares of Xilinx in a research note on Thursday, April 27th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $62.92.
Shares of Xilinx (XLNX) traded up 0.21% during mid-day trading on Wednesday, hitting $68.42. 741,278 shares of the stock traded hands. The firm’s 50-day moving average is $65.80 and its 200-day moving average is $60.77. Xilinx has a 52 week low of $45.90 and a 52 week high of $68.58. The stock has a market cap of $16.97 billion, a price-to-earnings ratio of 29.49 and a beta of 1.10.
Several institutional investors have recently made changes to their positions in the stock. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Xilinx during the fourth quarter valued at $2,173,000. Perigon Wealth Management LLC raised its position in shares of Xilinx by 1.1% in the fourth quarter. Perigon Wealth Management LLC now owns 101,132 shares of the programmable devices maker’s stock valued at $5,940,000 after buying an additional 1,132 shares during the last quarter. Kentucky Retirement Systems acquired a new position in shares of Xilinx during the fourth quarter valued at $1,106,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Xilinx during the fourth quarter valued at $494,000. Finally, Searle & CO. acquired a new position in shares of Xilinx during the fourth quarter valued at $543,000. 94.11% of the stock is owned by institutional investors and hedge funds.
In other Xilinx news, CEO Moshe Gavrielov sold 15,300 shares of the stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $64.78, for a total transaction of $991,134.00. Following the completion of the transaction, the chief executive officer now owns 245,066 shares of the company’s stock, valued at $15,875,375.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Lorenzo Flores sold 9,600 shares of the 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 transaction, the chief financial officer now directly owns 19,058 shares of the company’s stock, valued at approximately $1,270,978.02. The disclosure for this sale can be found here. In the last quarter, insiders have sold 75,000 shares of company stock worth $4,862,471. Company insiders own 0.40% of the company’s stock.
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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