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BMO Capital Markets Lowers Xilinx (NASDAQ:XLNX) Price Target to $100.00

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Xilinx (NASDAQ:XLNX) had its price objective reduced by BMO Capital Markets to $100.00 in a research note published on Wednesday, The Fly reports. They currently have a market perform rating on the programmable devices maker’s stock.

Several other analysts have also weighed in on XLNX. SunTrust Banks decreased their target price on shares of Xilinx from $127.00 to $105.00 and set a hold rating on the stock in a research report on Wednesday, October 2nd. ValuEngine lowered shares of Xilinx from a hold rating to a sell rating in a research report on Wednesday, October 2nd. Rosenblatt Securities reiterated a buy rating and set a $165.00 target price on shares of Xilinx in a research report on Tuesday, October 1st. Nomura upgraded shares of Xilinx from a neutral rating to a buy rating and set a $115.00 target price on the stock in a research report on Monday, October 14th. Finally, Bank of America lowered shares of Xilinx from a buy rating to a neutral rating in a research report on Friday, September 20th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average target price of $113.26.

XLNX stock opened at $94.90 on Wednesday. The company has a current ratio of 6.44, a quick ratio of 6.54 and a debt-to-equity ratio of 0.46. The company has a fifty day simple moving average of $97.76 and a 200 day simple moving average of $109.98. Xilinx has a 1 year low of $76.91 and a 1 year high of $141.60. The firm has a market cap of $23.52 billion, a PE ratio of 27.27, a PEG ratio of 2.13 and a beta of 1.25.

Xilinx (NASDAQ:XLNX) last issued its earnings results on Wednesday, October 23rd. The programmable devices maker reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.02. Xilinx had a net margin of 28.76% and a return on equity of 35.84%. The business had revenue of $833.00 million for the quarter, compared to analyst estimates of $823.63 million. During the same period in the previous year, the business earned $0.84 EPS. The firm’s revenue was up 11.7% on a year-over-year basis. As a group, analysts forecast that Xilinx will post 3.42 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Shareholders of record on Tuesday, November 12th will be given a $0.37 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.48 dividend on an annualized basis and a yield of 1.56%. Xilinx’s dividend payout ratio (DPR) is presently 42.53%.

Xilinx declared that its board has approved a share buyback plan on Wednesday, October 23rd that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the programmable devices maker to purchase up to 4.1% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

In other Xilinx news, EVP Salil Raje sold 5,000 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $120.78, for a total value of $603,900.00. Following the transaction, the executive vice president now directly owns 24,455 shares in the company, valued at $2,953,674.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Emre Onder sold 1,337 shares of the business’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $96.79, for a total transaction of $129,408.23. Following the completion of the transaction, the senior vice president now owns 4,340 shares in the company, valued at $420,068.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,048 shares of company stock worth $2,934,041. Company insiders own 0.19% of the company’s stock.

Several hedge funds have recently made changes to their positions in XLNX. Boothe Investment Group Inc. acquired a new position in shares of Xilinx during the second quarter worth approximately $2,753,000. Montecito Bank & Trust lifted its position in shares of Xilinx by 62.9% during the second quarter. Montecito Bank & Trust now owns 3,625 shares of the programmable devices maker’s stock worth $427,000 after purchasing an additional 1,400 shares in the last quarter. Retirement Systems of Alabama lifted its position in shares of Xilinx by 0.5% during the second quarter. Retirement Systems of Alabama now owns 118,416 shares of the programmable devices maker’s stock worth $13,964,000 after purchasing an additional 533 shares in the last quarter. Zweig DiMenna Associates LLC lifted its position in shares of Xilinx by 143.6% during the second quarter. Zweig DiMenna Associates LLC now owns 38,753 shares of the programmable devices maker’s stock worth $4,570,000 after purchasing an additional 22,844 shares in the last quarter. Finally, Naples Global Advisors LLC lifted its position in shares of Xilinx by 1.5% during the second quarter. Naples Global Advisors LLC now owns 10,447 shares of the programmable devices maker’s stock worth $1,232,000 after purchasing an additional 150 shares in the last quarter. Institutional investors own 84.85% of the company’s stock.

Xilinx Company Profile

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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