Xilinx (NASDAQ:XLNX) Coverage Initiated by Analysts at Wells Fargo & Co

Wells Fargo & Co began coverage on shares of Xilinx (NASDAQ:XLNX) in a report released on Thursday, BenzingaRatingsTable reports. The brokerage issued an equal weight rating and a $95.00 price target on the programmable devices maker’s stock.

A number of other research firms also recently weighed in on XLNX. Credit Suisse Group dropped their price target on Xilinx from $110.00 to $100.00 and set an outperform rating on the stock in a research note on Wednesday, January 29th. Nomura dropped their price target on Xilinx from $115.00 to $105.00 and set a buy rating on the stock in a research note on Wednesday, January 29th. Citigroup dropped their price target on Xilinx from $95.00 to $90.00 and set a neutral rating on the stock in a research note on Wednesday, January 29th. Barclays reaffirmed a hold rating and set a $110.00 price target on shares of Xilinx in a research note on Sunday, January 19th. Finally, Bank of America dropped their price target on Xilinx from $100.00 to $90.00 and set an underperform rating on the stock in a research note on Wednesday, January 29th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company. Xilinx has a consensus rating of Hold and an average target price of $109.42.

Shares of NASDAQ:XLNX traded down $0.24 during midday trading on Thursday, reaching $90.17. The company’s stock had a trading volume of 2,432,889 shares, compared to its average volume of 4,016,922. The firm has a market capitalization of $21.50 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 2.12 and a beta of 1.20. The company has a debt-to-equity ratio of 0.47, a quick ratio of 5.43 and a current ratio of 6.06. The firm has a 50 day moving average price of $95.74 and a two-hundred day moving average price of $97.85. Xilinx has a fifty-two week low of $83.67 and a fifty-two week high of $141.60.

Xilinx (NASDAQ:XLNX) last announced its quarterly earnings data on Tuesday, January 28th. The programmable devices maker reported $0.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.09. Xilinx had a return on equity of 33.38% and a net margin of 27.05%. The company had revenue of $723.50 million for the quarter, compared to the consensus estimate of $725.73 million. During the same period in the previous year, the business earned $0.93 EPS. The firm’s revenue was down 9.6% compared to the same quarter last year. As a group, research analysts anticipate that Xilinx will post 3.39 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Tuesday, February 11th will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Monday, February 10th. Xilinx’s dividend payout ratio is currently 42.53%.

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

Institutional investors and hedge funds have recently modified their holdings of the business. First PREMIER Bank bought a new stake in Xilinx during the 4th quarter worth approximately $35,000. Citizens Financial Group Inc RI increased its holdings in Xilinx by 42.8% during the 3rd quarter. Citizens Financial Group Inc RI now owns 367 shares of the programmable devices maker’s stock worth $36,000 after purchasing an additional 110 shares in the last quarter. Quest Capital Management Inc. ADV bought a new stake in Xilinx during the 3rd quarter worth approximately $38,000. Keebeck Wealth Management LLC bought a new stake in Xilinx during the 4th quarter worth approximately $44,000. Finally, Orion Portfolio Solutions LLC bought a new position in shares of Xilinx in the fourth quarter valued at approximately $44,000. 84.14% of the stock is owned by hedge funds and other institutional investors.

About Xilinx

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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