Xilinx, which also declared its regular quarterly dividend of 19 cents a share, forecast sequential sales growth of between 2% and 6% in its fiscal fourth quarter ending in March and projected gross margins of 64%-65%.

The outlook was a bit mixed as the company is calling for a return to growth on the top line after a sequential dip of 8% in the latest quarter when it experienced "particularly weak business from large communications customers" but the gross margin view is a slight dip from the current 65.8% level.

The stock was last quoted at $37.83, up 7.2%, on after-hours volume of around 800,000, according to Nasdaq.com. Based on Wednesday's regular session close at $35.30, the shares have gained nearly 8% in the past year. The buy side was in wait-and-see model ahead of the news with 17 of the 29 analysts covering the stock at hold.

WebMD ( WBMD) shares were also winners in after-hours action, rising 3.3% to $27.17 on volume of more than 30,000 after Carl Icahn disclosed that he's raised his stake in the online medical information company to 11.6% from just below 10% in a regulatory filing.

Icahn also disclosed in the Schedule 13-D an idea for what WebMD should do with some of its cash holdings.

"The Reporting Persons believe that the Issuer should use cash on hand to repurchase up to one billion dollars of its outstanding shares through a Dutch tender with $30.00 per share as the high-end of the price range," Icahn said in the filing. "This price represents a 14% premium to the January 18, 2012 closing price which reflects the news of the Issuer's most recent significant financial guidance disappointment and the termination of its sale process."

Other stocks active in late trades included eBay ( EBAY), which tacked on 2.4% to $31.08 on volume of 5.5 million after the online auctioneer offered up a mixed bag with its quarterly results; and Sanmina-SCI ( SANM), which fell 6.3% to $9.84 on volume of nearly 62,000 after the company fell 3 cents short of the consensus profit view for its latest quarter.

-- Written by Michael Baron in New York.

>To contact the writer of this article, click here: Michael Baron.

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Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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