Xilinx (NASDAQ:XLNX) Releases Earnings Results, Beats Expectations By $0.02 EPS

Xilinx (NASDAQ:XLNX) issued its quarterly earnings results on Wednesday. The programmable devices maker reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.02, RTT News reports. Xilinx had a return on equity of 35.99% and a net margin of 29.19%. The firm had revenue of $833.00 million during the quarter, compared to analyst estimates of $823.63 million. During the same period last year, the company earned $0.84 EPS. Xilinx’s quarterly revenue was up 11.7% compared to the same quarter last year. Xilinx updated its FY 2020 guidance to EPS and its Q3 2020 guidance to EPS.

Shares of Xilinx stock traded down $1.04 during trading on Thursday, reaching $92.79. The company’s stock had a trading volume of 129,211 shares, compared to its average volume of 3,548,955. The company has a quick ratio of 6.54, a current ratio of 7.22 and a debt-to-equity ratio of 0.48. The company has a market cap of $24.25 billion, a price-to-earnings ratio of 26.69, a P/E/G ratio of 2.15 and a beta of 1.25. Xilinx has a 1-year low of $68.76 and a 1-year high of $141.60. The company has a 50-day simple moving average of $98.06 and a two-hundred day simple moving average of $110.33.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 12th will be issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.59%. Xilinx’s dividend payout ratio is presently 42.53%.

In other news, CEO Victor Peng sold 6,489 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $100.00, for a total value of $648,900.00. Following the completion of the sale, the chief executive officer now owns 66,887 shares of the company’s stock, valued at approximately $6,688,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Vincent Tong sold 8,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $105.00, for a total value of $840,000.00. Following the completion of the sale, the executive vice president now directly owns 36,775 shares of the company’s stock, valued at approximately $3,861,375. The disclosure for this sale can be found here. Insiders sold a total of 27,048 shares of company stock valued at $2,934,041 in the last three months. Insiders own 0.19% of the company’s stock.

Xilinx announced that its board has authorized a share buyback program on Wednesday, October 23rd that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the programmable devices maker to buy up to 4.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

A number of brokerages recently issued reports on XLNX. Barclays decreased their price target on Xilinx from $100.00 to $91.00 and set an “equal weight” rating for the company in a research note on Thursday. SunTrust Banks decreased their price target on Xilinx from $127.00 to $105.00 and set a “hold” rating for the company in a research note on Wednesday, October 2nd. Morgan Stanley raised their price target on Xilinx from $126.00 to $134.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Rosenblatt Securities restated a “buy” rating and set a $165.00 price objective on shares of Xilinx in a report on Tuesday, October 1st. Finally, Cascend Securities upgraded Xilinx from a “hold” rating to a “buy” rating and set a $115.00 price objective on the stock in a report on Tuesday. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $115.52.

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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Earnings History for Xilinx (NASDAQ:XLNX)

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