In fact, a lot of investors were hoping this meeting would be canceled, TheStreet's Jim Cramer, manager of the Action Alerts PLUS portfolio, said on CNBC's "Mad Dash" segment.
The hope was that management would cancel the meeting and announce that Xilinx is being acquired by another company, Cramer explained. Once that didn't happen, investors were suddenly stuck with just the fundamentals.
The fundamentals aren't bad at Xilinx. In fact, they're good. But the fundamentals just aren't as great as some of its peers, which is why the stock is down, Cramer reasoned.
Analysts at Wells Fargo downgraded the stock to market perform and assigned a $66 price target. Cramer noted that the analysts don't see a lot of catalysts for Xilinx at present time.
Despite the decline, shares are still up about 42% over the past 12 months.
At the time of publication, Cramer's Action Alerts PLUS had no position in any companies mentioned.