Xilinx Falls on Lowered Guidance
Xilinx (XLNX) - Get Report was down 7% in preopen Island trading. After the close Tuesday the programmable chipmaker warned first-quarter revenue will fall 32%, to $277 million, from $407 million in the fourth quarter. According to Thomson Financial/First Call, analysts had expected revenue to decline 21% to $321 million.
The company previously had warned revenue would be 15% to 25% lower.
Rival
Altera
(ALTR) - Get Report
was down 2.8%.
Prudential Securities
this morning trimmed its price target on Altera to $35 from $41.
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