Xilinx closed at $204.04 in the latest trading session, marking a +1.18% move from the prior day. The stock outpaced the S&P 500's daily loss of 0.1%. Elsewhere, the Dow lost 0.47%, while the tech-heavy Nasdaq lost 0.47%.
Coming into today, shares of the computer chipmaker had lost 10.27% in the past month. In that same time, the Computer and Technology sector lost 1%, while the S&P 500 gained 3.67%.
Xilinx will be looking to display strength as it nears its next earnings release. On that day, Xilinx is projected to report earnings of $1.05 per share, which would represent year-over-year growth of 34.62%. Meanwhile, our latest consensus estimate is calling for revenue of $953.75 million, up 18.71% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.10 per share and revenue of $3.73 billion. These totals would mark changes of +33.12% and +18.52%, respectively, from last year.
It is also important to note the recent changes to analyst estimates for Xilinx. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Xilinx is currently sporting a Zacks Rank of #3 (Hold).
In terms of valuation, Xilinx is currently trading at a Forward P/E ratio of 49.24. This valuation marks a no noticeable deviation compared to its industry's average Forward P/E of 49.24.
The Semiconductors - Programmable Logic industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 109, which puts it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
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