Needham Gives a Hold Rating to Xilinx (XLNX)

By Carrie Williams

Needham analyst Quinn Bolton assigned a Hold rating to Xilinx (XLNXResearch Report) today. The company’s shares closed last Monday at $91.96.

According to TipRanks.com, Bolton is a top 25 analyst with an average return of 26.6% and a 75.5% success rate. Bolton covers the Technology sector, focusing on stocks such as MACOM Technology Solutions Holdings, Advanced Energy Industries, and Ultra Clean Holdings.

Currently, the analyst consensus on Xilinx is a Moderate Buy with an average price target of $100.93, a 10.5% upside from current levels. In a report issued on June 26, Evercore ISI also downgraded the stock to Hold with a $100.00 price target.

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Based on Xilinx’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $756 million and net profit of $162 million. In comparison, last year the company earned revenue of $828 million and had a net profit of $245 million.

Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of XLNX in relation to earlier this year.

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Xilinx, Inc. engages in the design and development of programmable logic semiconductor devices and the related software design tools. 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 in February 1984 and is headquartered in San Jose, CA.