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Traders Flee Xilinx on Soft Forecast

TSC Staff

Xilinx (XLNX) shares were falling Thursday after the chipmaker missed Wall Street's fiscal first-quarter targets and warned that revenue for the current quarter might also be short of expectations.

The company had net revenue of $445.9 million in the first quarter, up 1% sequentially, but down 7% from the same period a year ago. Earnings rose to $84.3 million, or 28 cents a share, from last year's $82.5 million and 24 cents a share.

However, analysts were looking for a profit of 29 cents and sales of $452.8 million.

For the fiscal second quarter, Xilinx expects revenue to be flat to down slightly from the first quarter, which would put it below the Thomson Financial consensus of $459.1 million.

After the results and outlook, Xilinx was down 4.4% to $27.44.