The technology sector has been on a rising spree during the pandemic. It has been among the best performing sectors in the market. Among the top technology stocks to buy right now, Xilinx is one candidate. The company has been in the news ever since October 2020 when AMD announced its agreement to buy Xilinx in an all-stock $35 billion deal. Investors looking to participate in the technology sector can consider stocks like AMD and Xilinx because of their strengths as well as any synergies that may arise due to the recently announced deal.
Xilinx Reported Its Q22021 Earnings Recently
Xilinx reported its second-quarter FY2021 earnings results this October. Revenues were down 8% year-on-year from $833 million to $767 million. Earnings per share were also down 11% year-on-year from $0.89 to $0.79. According to Xilinx CEO Victor Peng, “We are pleased with our fiscal second quarter performance, which came in above the mid-point of guidance.” He further added, “Our strong results were driven by another record quarter in our Data Center Group and Aerospace & Defense businesses, as well as improvement in our Automotive and Broadcast end markets. In addition, RFSoC sales ramped meaningfully with a tier-1 wireless OEM customer for5G radio deployment in North America.”
Financial Performances Of The Top Technology Stocks To Buy Right Now
Xilinx has grown its revenue from $2.2 billion in 2016 to $3.16 billion in 2019. Earnings per share, meanwhile, have grown from $2.05 per share in 2016 to $3.11 in 2019. The company has also consistently increased its dividends since 2011. Dividends have grown every year from $0.64 in 2011 to $1.48 in 2019. AMD has also witnessed strong growth in its business. Its revenues grew from $3.99 billion in 2015 to $6.7 billion in 2019. Earnings per share went from negative $0.84 to a profit of $0.3 in 2019.