Xilinx Falls on Lowered Guidance

By TSC Staff ,

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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