Xilinx (NASDAQ:XLNX) Shares Gap Down on Disappointing Earnings

Xilinx, Inc. (NASDAQ:XLNX)’s share price gapped down before the market opened on Friday following a weaker than expected earnings announcement. The stock had previously closed at $116.99, but opened at $111.87. Xilinx shares last traded at $107.35, with a volume of 4,921,694 shares changing hands.

The programmable devices maker reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.25). Xilinx had a return on equity of 29.97% and a net margin of 21.22%. The firm had revenue of $726.67 million for the quarter, compared to analysts’ expectations of $727.22 million.

A number of equities analysts have commented on XLNX shares. JPMorgan Chase & Co. lifted their target price on shares of Xilinx from $85.00 to $88.00 and gave the stock an “underweight” rating in a research note on Tuesday, June 30th. Mizuho lifted their target price on shares of Xilinx from $94.00 to $110.00 and gave the stock a “neutral” rating in a research note on Friday. SunTrust Banks boosted their price target on shares of Xilinx from $82.00 to $93.00 and gave the company a “hold” rating in a research note on Thursday, April 23rd. Deutsche Bank boosted their price target on shares of Xilinx from $90.00 to $100.00 and gave the company a “hold” rating in a research note on Friday, July 17th. Finally, BidaskClub raised shares of Xilinx from a “strong sell” rating to a “sell” rating in a research note on Thursday, July 23rd. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $104.32.

In other news, VP Catia Hagopian sold 1,200 shares of the company’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $90.41, for a total value of $108,492.00. Following the completion of the transaction, the vice president now owns 15,770 shares in the company, valued at approximately $1,425,765.70. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Marshall C. Turner sold 7,060 shares of the company’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $95.37, for a total transaction of $673,312.20. Following the completion of the transaction, the director now owns 41,502 shares of the company’s stock, valued at approximately $3,958,045.74. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,107 shares of company stock valued at $1,894,258. Company insiders own 0.20% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. Alliancebernstein L.P. boosted its holdings in shares of Xilinx by 67.4% in the 1st quarter. Alliancebernstein L.P. now owns 9,157,951 shares of the programmable devices maker’s stock valued at $713,771,000 after buying an additional 3,688,343 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Xilinx by 20.1% in the 1st quarter. Janus Henderson Group PLC now owns 4,871,932 shares of the programmable devices maker’s stock valued at $379,715,000 after buying an additional 816,360 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in Xilinx by 50.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,370,510 shares of the programmable devices maker’s stock valued at $331,624,000 after purchasing an additional 1,127,401 shares during the last quarter. Ceredex Value Advisors LLC raised its position in Xilinx by 7.7% in the 1st quarter. Ceredex Value Advisors LLC now owns 2,718,816 shares of the programmable devices maker’s stock valued at $211,904,000 after purchasing an additional 195,268 shares during the last quarter. Finally, Morgan Stanley raised its position in Xilinx by 19.2% in the 1st quarter. Morgan Stanley now owns 2,432,032 shares of the programmable devices maker’s stock valued at $189,553,000 after purchasing an additional 391,045 shares during the last quarter. Institutional investors and hedge funds own 82.58% of the company’s stock.

The firm’s 50-day moving average is $97.54 and its 200 day moving average is $89.41. The stock has a market cap of $27.21 billion, a PE ratio of 41.93, a P/E/G ratio of 4.38 and a beta of 0.96. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.40 and a current ratio of 2.68.

Xilinx Company Profile (NASDAQ:XLNX)

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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