Xilinx (NASDAQ:XLNX) declared that its board has authorized a stock buyback plan on Wednesday, October 23rd, RTT News reports. The company plans to repurchase $1.00 billion in shares. This repurchase authorization authorizes the programmable devices maker to buy up to 4.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
Several analysts have issued reports on XLNX shares. ValuEngine raised shares of Xilinx from a “sell” rating to a “hold” rating in a research report on Friday, October 25th. Citigroup dropped their price objective on shares of Xilinx from $124.00 to $95.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Rosenblatt Securities reaffirmed a “buy” rating and set a $165.00 price target on shares of Xilinx in a research report on Tuesday, October 1st. SunTrust Banks lowered their price target on shares of Xilinx to $94.00 and set a “neutral” rating on the stock in a research report on Thursday, October 24th. Finally, Barclays lowered their price target on shares of Xilinx from $100.00 to $91.00 and set an “equal weight” rating on the stock in a research report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $113.26.
NASDAQ XLNX traded down $0.12 during mid-day trading on Thursday, hitting $91.14. The company’s stock had a trading volume of 103,298 shares, compared to its average volume of 3,647,195. The company’s 50 day simple moving average is $96.58 and its 200 day simple moving average is $109.07. Xilinx has a twelve month low of $79.22 and a twelve month high of $141.60. The company has a current ratio of 6.44, a quick ratio of 5.78 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $23.22 billion, a price-to-earnings ratio of 26.30, a PEG ratio of 2.29 and a beta of 1.25.
Xilinx (NASDAQ:XLNX) last posted its quarterly earnings results on Wednesday, October 23rd. The programmable devices maker reported $0.94 earnings per share (EPS) 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 during the quarter, compared to the consensus estimate of $823.63 million. During the same quarter last year, the firm posted $0.84 EPS. Xilinx’s revenue was up 11.7% compared to the same quarter last year. As a group, research analysts forecast that Xilinx will post 3.35 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 12th will be given a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 1.62%. The ex-dividend date is Friday, November 8th. Xilinx’s payout ratio is currently 42.53%.
In other Xilinx news, Director Marshall C. Turner sold 3,000 shares of Xilinx stock in a transaction on Monday, August 19th. The shares were sold at an average price of $107.82, for a total transaction of $323,460.00. Following the transaction, the director now directly owns 44,690 shares of the company’s stock, valued at approximately $4,818,475.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Vincent Tong sold 8,000 shares of Xilinx stock in a transaction on Friday, August 30th. The stock was sold at an average price of $105.00, for a total transaction of $840,000.00. Following the transaction, the executive vice president now directly owns 36,775 shares in the company, valued at $3,861,375. The disclosure for this sale can be found here. In the last three months, insiders sold 18,826 shares of company stock valued at $1,941,768. 0.19% of the stock is currently owned by insiders.
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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