MKM Partners Reaffirms Their Hold Rating on Xilinx

By Carrie Williams

MKM Partners analyst Ruben Roy reiterated a Hold rating on Xilinx (NASDAQ: XLNX) today and set a price target of $63. The company’s shares opened today at $64.31, close to its 52-week high of $67.75.

Roy said:

“We increase our below consensus estimates modestly and continued to believe that risk-to- reward is fairly balanced for XLNX shares given current valuation.”

According to TipRanks.com, Roy is a 4-star analyst with an average return of 11.0% and a 65.2% success rate. Roy covers the Technology sector, focusing on stocks such as Advanced Micro Devices, Silicon Laboratories, and Applied Materials.

Currently, the analyst consensus on Xilinx is Moderate Buy and the average price target is $63, representing a -2.0% downside.

In a report released yesterday, Jefferies also reiterated a Hold rating on the stock with a $68 price target.

Based on Xilinx’s latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $609 million and quarterly net profit of $153 million. In comparison, last year the company earned revenue of $571 million and had a net profit of $145 million.

Based on the recent corporate insider activity of 40 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Krishna Rangasayee, the SVP of XLNX sold 15,000 shares for a total of $973,350.

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Xilinx, Inc. designs, develops and markets programmable devices and associated technologies. It offers programmable platforms, it also provides design services, customer training, field engineering and technical support. The company was founded by Ross Freeman, Bernard Vonderschmitt, and James V. Barnett II in February 1984 and is headquartered in San Jose, CA.