Lehman Analyst Cuts Xilinx Estimates

Author:: Eric Gillin
Publish date:: Feb 28, 2001 8:10 AM EST

Xilinx (XLNX) - Get Report was caught in some Altera (ALTR) - Get Report-related crossfire Wednesday morning, getting struck by analyst estimate revisions after its chipmaking competitor announced that revenues would fall 20% from the fourth quarter to the first quarter.

Lehman Brothers

analyst Dan Niles cut his 2001 earnings-per-share estimate on Xilink to $1.14 a share from $1.19 a share. His old estimate was in line with Wall Street's consensus estimate. His 2002 estimate was dropped to $1.08 a share from $1.33 a share. The

First Call/Thomson Financial

consensus estimate for 2002 was $1.39.

"We are also reducing earnings per share on Xilinx ahead of their update Monday, as we believe

the first quarter could be down 12% quarter-to-quarter with the

second quarter," he wrote.