Argus Raises Xilinx (XLNX) Price Target to $85.00

Xilinx (NASDAQ:XLNX) had its price objective upped by research analysts at Argus to $85.00 in a research report issued to clients and investors on Tuesday, January 9th, The Fly reports. The brokerage presently has a “buy” rating on the programmable devices maker’s stock. Argus’ target price would indicate a potential upside of 13.85% from the company’s current price.

Several other analysts have also weighed in on XLNX. BidaskClub upgraded shares of Xilinx from a “sell” rating to a “hold” rating in a research note on Saturday, January 6th. BMO Capital Markets reiterated a “buy” rating and set a $80.00 target price on shares of Xilinx in a research note on Wednesday, October 18th. SunTrust Banks restated a “hold” rating on shares of Xilinx in a research report on Wednesday, October 4th. MKM Partners upped their price target on shares of Xilinx from $63.00 to $78.00 and gave the stock a “neutral” rating in a research report on Sunday, October 8th. Finally, Goldman Sachs Group upgraded shares of Xilinx from a “neutral” rating to a “buy” rating in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $71.53.

Shares of Xilinx (XLNX) opened at $74.66 on Tuesday. The company has a quick ratio of 9.35, a current ratio of 9.86 and a debt-to-equity ratio of 0.70. The stock has a market cap of $18,736.14, a price-to-earnings ratio of 31.50, a P/E/G ratio of 3.08 and a beta of 1.08. Xilinx has a 12 month low of $54.99 and a 12 month high of $75.29.

Xilinx (NASDAQ:XLNX) last released its earnings results on Wednesday, October 25th. The programmable devices maker reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.02. Xilinx had a net margin of 25.93% and a return on equity of 25.17%. The firm had revenue of $620.00 million during the quarter, compared to analyst estimates of $620.99 million. During the same quarter in the previous year, the firm earned $0.61 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. analysts expect that Xilinx will post 2.59 EPS for the current year.

In other Xilinx news, Director Elizabeth W. Vanderslice sold 2,500 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $72.20, for a total transaction of $180,500.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Victor Peng sold 25,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $72.00, for a total transaction of $1,800,000.00. The disclosure for this sale can be found here. Insiders sold a total of 31,728 shares of company stock valued at $2,293,154 over the last three months. 0.40% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of XLNX. Janus Henderson Group PLC increased its holdings in shares of Xilinx by 743.4% in 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 purchasing an additional 6,423,813 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Xilinx by 427.3% in the 2nd quarter. Renaissance Technologies LLC now owns 1,520,605 shares of the programmable devices maker’s stock valued at $97,805,000 after purchasing an additional 1,232,206 shares during the period. Pictet Asset Management Ltd. increased its holdings in shares of Xilinx by 67.6% in the 3rd quarter. Pictet Asset Management Ltd. now owns 2,301,908 shares of the programmable devices maker’s stock valued at $163,044,000 after purchasing an additional 928,405 shares during the period. Vanguard Group Inc. increased its holdings in shares of Xilinx by 2.4% in 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 period. Finally, Balyasny Asset Management LLC increased its holdings in Xilinx by 248.2% in the second quarter. Balyasny Asset Management LLC now owns 461,644 shares of the programmable devices maker’s stock worth $29,693,000 after buying an additional 329,056 shares during the last quarter. Institutional investors own 94.96% of the company’s stock.

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Xilinx Company Profile

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.

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