NEW YORK (TheStreet) -- Xilinx  (XLNX) - Get Report stock is down by 3.76% to $46.64 in midday trading on Wednesday, after the company announced CFO Jon Olson will retire in May. 

Olson will retire after serving as the company's CFO for 11 years, the company announced on Wednesday. He will be replaced by Lorenzo Flores, who is Xilinx's corporate VP of finance and corporate controller. 

"Lorenzo was a natural choice as Jon's successor, having worked with and for Jon for over seven years on gross margin improvement, operating models, M&A, and more recently, investor relations," CEO Moshe Gavrielov said in a statement. 

Based in San Jose, CA, Xilinx is a technology company that supplies programmable logic devices.

Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Recommends

TheStreet Ratings rates this stock as a "buy" with a ratings score of B+. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, expanding profit margins and solid stock price performance. We feel its strengths outweigh the fact that the company has had sub par growth in net income.

You can view the full analysis from the report here: XLNX

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