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.
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.