Xilinx: Broad Portfolio And Strong R&D Are A Winning Combination
Timothy McIntosh • 14 Comments
Timothy McIntosh • 14 Comments
Yesterday, 5:35 PM
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Wed, Apr. 27, 6:11 PM
- Though Xilinx (NASDAQ:XLNX) beat FQ4 estimates, it's guiding for FQ1 revenue to be roughly flat relative to FQ4's $571.1M. That implies sales will miss a $578.7M consensus.
- No explanation is given in the earnings release for Xilinx's outlook. The company's 2015 sales were pressured by soft mobile infrastructure-related FPGA orders. Mobile infrastructure giant Ericsson posted weak results last week, and optical networking hardware firm Infinera is plunging this afternoon after providing a soft Q2 outlook.
- XLNX -3.9% after hours to $45.50.
- Xilinx's FQ4 results, earnings release
- Update: On its earnings call, Xilinx said its industrial and aerospace/defense business is expected to decline in FQ1; the company blamed a product program timing in aerospace/defense. Telecom/data center revenue is expected to grow thanks to "a continued ramp of our customers' wired [infrastructure] designs and a near-term firming in wireless."
Wed, Apr. 27, 4:24 PM
Tue, Apr. 26, 5:35 PM
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Wed, Jan. 20, 5:46 PM
- In addition to beating FQ3 revenue estimates (while posting in-line EPS), Xilinx (NASDAQ:XLNX) is guiding for FQ4 revenue to be roughly flat relative to FQ3's $566.2M. Consensus is at $564.9M.
- CEO Moshe Gavrielov on FQ3: "New product sales were exceptionally strong during the quarter increasing 18% sequentially, enabling Xilinx to reach the high-end of our sales guidance. Both our 7-series and UltraScale [FPGA] families reached new sales records during the quarter, driven by a very broad base of end markets."
- Segment performance: Telecom and data center (43% of revenue) sales +12% Q/Q and -3% Y/Y. Industrial, aerospace, and defense (41% of revenue) +7% Q/Q and -10% Y/Y. Broadcast, consumer, and auto (16% of revenue) -4% Q/Q and +7% Y/Y.
- Financials: Hurting FQ3 EPS: Gross margin was 68.5%, -160 bps Q/Q and -120 bps Y/Y, and slightly below guidance of 69%. FQ4 GM guidance is at 68%-69%. GAAP operating expenses rose by just 2% Y/Y to $227.6M. $100M was spent on buybacks. Xilinx ended FQ3 with $3.4B in cash and $1.6B in debt.
- Xilinx has risen to $45.90 after hours.
- Xilinx's FQ3 results, earnings release
Wed, Jan. 20, 4:22 PM
- Xilinx (NASDAQ:XLNX): FQ3 EPS of $0.49 in-line.
- Revenue of $566M (-4.6% Y/Y) beats by $11.5M.
- Shares +1%.
Tue, Jan. 19, 5:35 PM
Oct. 14, 2015, 6:47 PM
- While its FQ2 sales missed estimates (EPS slightly beat), Xilinx (NASDAQ:XLNX) is guiding for FQ3 revenue to be up 3%-7% Q/Q. That implies a range of $543.4M-$564.5M, in-line with a $548.3M consensus and above at a $554M midpoint. That's going over well following multiple quarters of light guidance.
- Communications & Data Center sales (41% of total), under pressure in recent quarters thanks in part to weak Chinese base station demand, managed to rise 5% Q/Q, albeit while still dropping 19% Y/Y. Notably, Xilinx states "wired and wireless communications" chip sales rose. The Zyna-7000 programmable SoC line and 20nm UltraScale FPGAs were also strong points.
- Industrial, Aerospace, & Defense sales (also 41% of total) fell 12% Q/Q and Y/Y; defense was a weak spot. Broadcast, Consumer, & Automotive sales (18% of total) fell 3% Q/Q and rose 4% Y/Y.
- Helping EPS beat estimates: Gross margin was 70.1%, +20 bps Q/Q and -180 bps Y/Y, and slightly above a 69%-70% guidance range. FQ3 GM guidance is at 69%. Also helping GAAP operating expenses fell 8% Y/Y to $216.8M, and $100M was spent on buybacks.
- Shares have risen to $47.56 after hours.
- FQ2 results, PR
Oct. 14, 2015, 4:22 PM
- Xilinx (NASDAQ:XLNX): FQ2 EPS of $0.48 beats by $0.01.
- Revenue of $527.57M (-12.7% Y/Y) misses by $2.01M.
Oct. 13, 2015, 5:35 PM
Sep. 8, 2015, 3:25 PM
- The Philadelphia Semi Index (SOXX +3.9%) has risen to its highest levels since mid-August on a day the Nasdaq is posting a 2.3% gain.
- Likely helping out: Microchip (MCHP +8.4%), still often seen as an industry bellwether (though its commentary accompanying last fall's warning sparked criticism), has adjusted its FQ2 (calendar Q3) revenue and EPS guidance to $545M-$563M ($554M midpoint) and $0.60-$0.66 from a prior $$532M-$569M ($550.5M midpoint) and $0.58-$0.66. The outlook comes after many chipmakers (Microchip included) offered below-consensus calendar Q3 guidance amid an inventory correction, weak PC demand, and slowing Chinese smartphone growth.
- Microchip's core ops are said to be tracking in-line with prior expectations, and recently-acquired Micrel's above expectations. The 8.6M shares issued in the Micrel deal have been repurchased.
- Also: Various Taiwanese chipmakers and supply chain firms have reported August sales. Chip packaging/testing firms ASE (ASX +5.9%) and Siliconware (SPIL +4.1%) respectively reported sales were up 5.8% and 5.7% M/M, and up 9.5% and down 4.2% Y/Y.
- Big gainers include Microchip peers NXP (NXPI +6.8%), Freescale (FSL +5.8%), Silicon Labs (SLAB +4.4%), and Cypress (CY +4.4%). Others include Avago (AVGO +5.8%), Xilinx (XLNX +5.7%), Cavium (CAVM +5.5%), Analog Devices (ADI +6.3%), Synaptics (SYNA +5.4%), Linear (LLTC +4.6%), Cirrus Logic (CRUS +4.7%), IDT (IDTI +4.6%), Sigma Designs (SIGM +4.9%), and chip equipment maker Axcelis (ACLS +8%).
- SanDisk, ON Semi, and Silicon Motion are benefiting from upgrades/bullish coverage. Apple holds its iPhone event at 1PM ET tomorrow.
- Chip ETFs: SMH, XSD, PSI, SOXL, USD, SOXS, SSG
Jul. 22, 2015, 7:17 PM
- In addition to missing FQ1 revenue estimates (while beating on EPS), Xilinx (NASDAQ:XLNX) is guiding for FQ2 sales to be down 2%-6% Q/Q. That implies a range of $516.1M-$538M, soundly below a $576.1M consensus.
- Telecom/data center chip sales (38% of revenue, hurt by soft mobile infrastructure FPGA demand) remained a weak spot in FQ1: Sales fell 11% Q/Q and 36% Y/Y. Industrial, aerospace, and defense sales (44% of revenue) were better, rising 3% Q/Q and 27% Y/Y. Broadcast, consumer, and automotive sales (18% of revenue) rose 1% Q/Q and 2% Y/Y.
- Lifting FQ1 EPS: Gross margin rose 180 bps Y/Y to 70.9% (topping guidance of 69%-70%), and operating expenses fell 3% to $210.5M. $100M was spent on buybacks, down from Q1's $175M. FQ2 GM guidance is also at 69%-70%.
- XLNX -1.5% AH to $40.45. Expectations were subdued on account of past numbers.
- FQ1 results, PR
Jul. 22, 2015, 4:21 PM
- Xilinx (NASDAQ:XLNX): FQ1 EPS of $0.55 beats by $0.01.
- Revenue of $549M (-10.4% Y/Y) misses by $7.58M.
Jul. 21, 2015, 5:35 PM| Jul. 21, 2015, 5:35 PM | 5 Comments
Apr. 22, 2015, 7:12 PM
- In addition to missing FQ4 revenue estimates (while beating on EPS), Xilinx (NASDAQ:XLNX) is guiding for FQ1 revenue to be flat to down 4% Q/Q. That implies a range of $544.2M-$566.9M, below a $584.8M consensus.
- Hurting FQ4 sales: Telecom/data center chip revenue (39% of total revenue) fell 7% Q/Q and 26% Y/Y; Texas Instruments just cited telecom infrastructure weakness (particularly for mobile gear) as a reason for its Q1 sales miss and soft Q2 guidance. Industrial, aerospace, & defense revenue (42% of total) fell 7% Q/Q (seasonality) but rose 13% Y/Y. Broadcast, consumer, & automotive (17% of total) rose 12% Q/Q and 6% Y/Y.
- Helping EPS beat estimates: Gross margin was 69.9%, up 230 bps Y/Y and above guidance of 68%-69%. FQ1 GM guidance is at 69%-70%. Also boosting EPS: $175M was spent on buybacks, even with FQ3.
- Xilinx has fallen to $42.89 AH. Archrival Altera (NASDAQ:ALTR), which reportedly rejected a $54/share Intel buyout offer, has dropped to $42.25 ahead of tomorrow's Q1 report. Piper downgraded Altera to Neutral earlier today, citing valuation.
- Xilinx's FQ4 results, PR
Xilinx, Inc. designs, develops and markets programmable devices and associated technologies, including: integrated circuits in the form of programmable logic devices, including programmable System on Chips and three dimensional ICs, or 3D ICs, software design tools to program the PLDs, targeted... More
Industry: Semiconductor - Specialized
Country: United States
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