Xilinx Inc. (XLNX) is a supplier of advanced integrated circuits in the form of programmable logic devices. The stock rose the most in the Standard & Poor’s 500 Index, climbing 6 percent and printing a new 52wkh of $34.90. Shares of XLNX continue to attract more bids, climbing towards early intra-day highs near the $35.00 level.
Technically speaking, XLNX has been moving largely higher over the past six months and is currently trading above its 50-day and 200-day moving average, located at $31.55, $27.47, respectively. The stock has next resistance at $35.90, then at $36.79. Both levels, which would be pullback areas for XLNX stock, have not been surmounted on a daily closing basis since May 2004. Today XLNX’s gains are relatively strong, which does open the door for a further upside into the wide resistance band that stretches all the way up into the $37.00 level.
Shares are seeing significant volume; mid-way through the session the ticker has already traded 4.7 million shares vs a daily average volume of 4.8 million.
XLNX currently trades at a 3.89x on a price to sales basis. The equity has a trailing P/E of 14.76, a forward P/E of 15.70 and a P/E to Growth ratio of 1.07. The median Wall Street price target on the stock is $32.00 with a high target of $39.00.