Market Buzz

Lorenzo Flores, Executive Vice President and Chief Financial Officer, is stepping down from Xilinx (NASDAQ:XLNX)

Xilinx (NASDAQ:XLNX) stock observed trading -26.82% off 52-week high price. On the other end, the stock has been noted 50.70% away from low price over the last 52-weeks. The stock disclosed a move of -6.11% away from 50 day moving average and -6.49% away from 200 day moving average. Moving closer, we can see that shares have been trading -0.22% off 20-day moving average. It has market cap of $26243.63M and dividend yield of 1.43%.

On Sept. 19, 2019, Xilinx (NASDAQ:XLNX) the leader in adaptive and intelligent computing, declared that Lorenzo Flores, Executive Vice President and Chief Financial Officer, is stepping down from his position to pursue another executive opportunity. Flores plans to leave Xilinx following the company’s second quarter fiscal year 2020 earnings on October 23, to ensure a smooth transition. The company has initiated a formal search for a new Chief Financial Officer.

On behalf of the Board of Directors and the entire management team, I would like to thank Lorenzo for his contributions and dedication to the company during the past 11 years, said Victor Peng, President and Chief Executive Officer, Xilinx. In particular, as Chief Financial Officer over the last three years, he has been integral to our efforts to grow our business and execute on our transition to a platform company. We wish him continued success in his next chapter.

It has been an honor to serve the shareholders, employees and customers of Xilinx during my tenure. I am proud of all we have accomplished together, particularly the outstanding financial performance of the company, said Flores.  Xilinx is extremely well-positioned in the industry and I am highly confident that the broad strength of the organization and management will ensure its continued success.

In connection with ‘s announcement, the company has appointed Sumeet Gagneja, Corporate Vice President, Finance and Corporate Controller, as Chief Accounting Officer and, Matt Poirier, Senior Vice President, Corporate Development and Investor Relations, will assume responsibilities of Treasurer. Gagneja and Poirier will report to Peng, who will provide oversight of finance operations while the company conducts its search for a new CFO.

 The USA based company Xilinx moved with change of -1.24% to $103.62 with the total traded volume of 1908300 shares in recent session versus to an average volume of 3006.82K. The stock was observed in the 5 days activity at -1.34%. The one month performance of stock was -1.41%. XLNX’s shares are at -9.71% for the quarter and driving a 33.58% return over the course of the past year and is now at 21.66% since this point in 2018.  Right now the stock beta is 1.25. The average volatility for the week and month was at 1.94% and 2.59% respectively. There are 253.27M shares outstanding and 252.16M shares are floated in market.

Leave a Reply

Your email address will not be published. Required fields are marked *