SunTrust Banks Comments on Xilinx, Inc.’s Q3 2018 Earnings (XLNX)

Xilinx, Inc. (NASDAQ:XLNX) – Research analysts at SunTrust Banks upped their Q3 2018 earnings per share estimates for shares of Xilinx in a research note issued on Thursday. SunTrust Banks analyst W. Stein now forecasts that the programmable devices maker will earn $0.63 per share for the quarter, up from their previous estimate of $0.60. SunTrust Banks currently has a “Hold” rating on the stock. SunTrust Banks also issued estimates for Xilinx’s FY2018 earnings at $2.57 EPS, Q1 2019 earnings at $0.68 EPS, Q2 2019 earnings at $0.72 EPS and Q3 2019 earnings at $0.72 EPS.

A number of other research firms have also issued reports on XLNX. Zacks Investment Research upgraded Xilinx from a “hold” rating to a “buy” rating and set a $79.00 price objective on the stock in a research note on Friday. MKM Partners boosted their price objective on Xilinx from $63.00 to $78.00 and gave the company a “neutral” rating in a research note on Sunday, October 8th. Credit Suisse Group set a $75.00 price objective on Xilinx and gave the company a “buy” rating in a research note on Thursday, July 27th. Barclays PLC set a $65.00 price objective on Xilinx and gave the company a “hold” rating in a research note on Thursday, July 27th. Finally, BidaskClub lowered Xilinx from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $69.73.

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Xilinx (XLNX) opened at 72.76 on Friday. Xilinx has a 12 month low of $49.78 and a 12 month high of $73.32. The company has a 50 day moving average price of $70.35 and a 200-day moving average price of $65.65. The company has a market cap of $18.09 billion, a PE ratio of 31.09 and a beta of 1.10.

Xilinx (NASDAQ:XLNX) last issued its quarterly earnings results on Wednesday, October 25th. The programmable devices maker reported $0.65 EPS for the quarter, topping the Zacks’ consensus estimate of $0.63 by $0.02. Xilinx had a return on equity of 25.17% and a net margin of 25.93%. The company had revenue of $620.00 million for the quarter, compared to analysts’ expectations of $620.99 million. During the same quarter last year, the business earned $0.61 earnings per share. Xilinx’s revenue was up 7.1% on a year-over-year basis.

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Xilinx by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 27,668,265 shares of the programmable devices maker’s stock valued at $1,779,622,000 after purchasing an additional 638,165 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Xilinx by 743.4% during the 2nd quarter. Janus Henderson Group PLC now owns 7,287,938 shares of the programmable devices maker’s stock valued at $468,770,000 after acquiring an additional 6,423,813 shares during the period. Janus Capital Management LLC boosted its holdings in Xilinx by 12.1% during the 1st quarter. Janus Capital Management LLC now owns 7,066,192 shares of the programmable devices maker’s stock valued at $409,062,000 after acquiring an additional 764,384 shares during the period. Clearbridge Investments LLC boosted its holdings in Xilinx by 9.8% during the 1st quarter. Clearbridge Investments LLC now owns 4,647,433 shares of the programmable devices maker’s stock valued at $269,040,000 after acquiring an additional 413,912 shares during the period. Finally, Discovery Capital Management LLC CT boosted its holdings in Xilinx by 5.6% during the 2nd quarter. Discovery Capital Management LLC CT now owns 3,358,055 shares of the programmable devices maker’s stock valued at $215,990,000 after acquiring an additional 177,100 shares during the period. Hedge funds and other institutional investors own 97.28% of the company’s stock.

In other news, insider Steven L. Glaser sold 15,788 shares of the stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $63.38, for a total transaction of $1,000,643.44. Following the transaction, the insider now directly owns 12,387 shares in the company, valued at approximately $785,088.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Moshe Gavrielov sold 25,000 shares of the stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $69.76, for a total value of $1,744,000.00. Following the transaction, the chief executive officer now owns 270,856 shares in the company, valued at $18,894,914.56. The disclosure for this sale can be found here. Insiders have sold a total of 209,330 shares of company stock worth $14,598,104 over the last quarter. Corporate insiders own 0.40% of the company’s stock.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 6th. Stockholders of record on Wednesday, November 15th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.40 annualized dividend and a dividend yield of 1.92%. Xilinx’s dividend payout ratio (DPR) is presently 59.07%.

About Xilinx

Xilinx, Inc (Xilinx) is engaged in designing and developing programmable devices and associated technologies. The Company’s programmable devices and associated technologies include integrated circuits (ICs) in the form of programmable logic devices (PLDs), including programmable System on Chips (SoCs) and three-dimensional ICs (3D ICs); software design tools to program the PLDs; targeted reference designs; printed circuit boards, and intellectual property (IP), which consists of Xilinx, and various third-party verification and IP cores.

Earnings History and Estimates for Xilinx (NASDAQ:XLNX)

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