There is research on this stock available only to PRO subscribers.
Wed, Jul. 23, 12:47 PM
Wed, Jul. 23, 12:25 PM
- Among the year's best tech performers, chip stocks are selling off (SOXX -1.8%) on an up day for the Nasdaq following weak numbers from FPGA giant Xilinx (XLNX -14.5%).
- Xilinx missed FQ1 revenue estimates by over $18M, and also guided for FQ2 revenue to be well below consensus. The company blamed the FQ1 shortfall on soft defense and wireless sales. BMO and BofA/Merrill have downgraded Xilinx; the former thinks Xilinx's 28nm share might be peaking.
- Xilinx stated on its CC (transcript) the wireless weakness was mostly due to soft 28nm chip sales to Chinese 4G base station vendors; Chinese 4G rollouts have long been viewed as a catalyst for both Xilinx and Altera (ALTR -4.7%). Aerospace/defense sales were hurt by program timing issues.
- Meanwhile, switch/router vendor Juniper offered light Q3 guidance to go with a Q2 beat. The company noted on its CC (transcript) "market dynamics" for U.S. carriers, including M&A activity, are affecting project rollouts.
- Also: Analog/mixed-signal IC vendor Linear (LLTC -4.1%) is selling off in spite of beating FQ4 estimates and guiding in-line (8%-11% Y/Y FQ1 rev. growth vs. 9.1% consensus).
- Notable decliners: FSL -5.3%. IDTI -6.4%. EZCH -3.3%. PMCS -4.3%. LSCC -6.8%. CAVM -4.7%. SMTC -4.1%. ATML -3.2%. TQNT -3.1%. RFMD -2.9%. IRF -2.9%.
- Qualcomm, NXP, TriQuint, and Cirrus Logic report after the bell.
- Chip ETFs: SMH, XSD, PSI, SOXL, USD, SOXS, SSG
Wed, Jul. 23, 9:11 AM
Tue, Jul. 22, 5:35 PM
Tue, Jul. 22, 5:13 PM
- In addition to missing FQ1 revenue estimates by $18.8M, Xilinx (NASDAQ:XLNX) is guiding for FQ2 revenue to be flat to down 4% Q/Q. The consensus is for revenue $644.5M, 5% above FQ1 levels.
- Xilinx attributes the FQ1 weakness to soft sales to defense and wireless clients.
- Industrial, aerospace, & defense sales (31% of revenue) -9% Q/Q and -11% Y/Y, telecom & data center (50% of revenue) +1% Q/Q and +20% Y/Y, broadcast, consumer, & automotive (16% of revenue) +5% Q/Q and +3% Y/Y, everything else (3% of revenue) +39% Q/Q and +11% Y/Y.
- Gross margin +150 bps Q/Q to 69.1%, and above guidance of 68.1%. Xilinx expects an FQ2 GM of 70%. $100M was spent on buybacks.
- Altera (NASDAQ:ALTR) is following Xilinx lower.
- FQ1 results, PR
Tue, Jul. 22, 4:21 PM
Mon, Jul. 21, 5:35 PM
Mon, Jun. 2, 9:41 AM
- Xilinx (XLNX -1.1%) has been cut to Neutral by Goldman.
- STMicroelectronics (STM -1.5%) has been cut to Sell by Citi. HSBC downgraded shares on May 22.
- Microsemi (MSCC +3.1%) has been upgraded to Buy by Goldman.
- Proofpoint (PFPT +1.5%) has been upgraded to Buy by Sterne Agee. Shares joined IT security peers in selling off on Friday.
- Universal Electronics (UEIC -8.4%) has been cut to Neutral by B. Riley.
Thu, Apr. 24, 5:29 PM
- Altera (ALTR) expects FQ2 revenue to grow 2%-6% from an FQ1 level of $461.1M. That implies a range of $470M-$488.8M, above a $461.3M consensus.
- The FPGA maker suggests stronger-than-expected sales related to Chinese 4G deployments contributed to its FQ1 beat. Telecom & wireless revenue (45% of sales) grew 14% Q/Q and 23% Y/Y, and Asia-Pac revenue 6% Q/Q and 24% Y/Y.
- Those numbers offset weakness in networking, computer, & storage (-20% Q/Q and -7% Y/Y), as well as the Americas (-17% Q/Q and -13% Y/Y). Other areas of strength included industrial, military, and automotive (+13% Y/Y, 22% of revenue), EMEA (+11%), and Japan (+18%).
- Shares +4% AH. Rival Xilinx (XLNX), which often moves in tandem with Altera, is up just 0.5% after falling 9.1% in regular trading due to its light FQ1 guidance. Altera fell only 0.6% in regular trading after initially showing steeper losses.
- Altera is expected to see 13.7% Y/Y June quarter revenue growth at its guidance midpoint, and Xilinx 10.5% growth.
- FQ1 results, PR
Thu, Apr. 24, 9:28 AM
Wed, Apr. 23, 6:41 PM
- Texas Instruments (TXN) expects Q2 revenue of $3.14B-$3.4B and EPS of $0.55-$0.63, largely above a consensus of $3.15B and $0.52. Shares +3.4% AH. (Q1 results, PR)
- Xilinx (XLNX) expects FQ1 revenue to be flat to up 4% from an FQ4 level of $617.8M. That implies a midpoint of $630.2M, below a $638.4M consensus. Shares -5.1% AH. Rival Altera (ALTR) -4% ahead of tomorrow's FQ1 report. (FQ4 results, PR)
- ServiceNow (NOW) expects Q2 revenue of $160M-$162M and full-year revenue of $652M-$657M, above consensus forecasts of $156.7M and $644.2M. Shares -1.6% AH. (Q1 results, PR)
Wed, Apr. 23, 5:38 PM
Wed, Apr. 23, 4:38 PM
Tue, Apr. 15, 5:42 PM
Thu, Apr. 3, 9:36 AM
- OpenTable (OPEN +3.2%) has been upgraded to Buy by Citi.
- Level 3 (LVLT -1.3%) has been cut to Hold by Gabelli.
- Altera (ALTR +1.2%) and Xilinx (XLNX +0.8%) have been started at Outperform by FBR. Separately, Piper has assumed coverage of Altera at Overweight, and Xilinx at Neutral.
- Telus (TU -1.2%) has been cut to Neutral by Macquarie. The carrier recently announced a CEO change.
Wed, Mar. 26, 2:15 PM
- Intel's (INTC -0.2%) foundry deal with Altera (ALTR -1.2%), first announced a year ago, has been expanded to include chip packages that combine Altera's next-gen Stratix 10 FPGAs (set to be manufactured using Intel's cutting-edge 14nm process) with DRAM, SRAM, ASICs, and other chips.
- Intel and Altera declare the packages will combine the density/integration benefits of its traditional 2.5D/3D chip-packaging approaches with "favorable economic metrics," and that Altera's Intel-manufactured FPGA chip dies will offer unmatched densities and component integration.
- Altera is counting on Intel's manufacturing expertise to give it an edge over archrival Xilinx (XLNX -0.8%), which continues to rely on TSMC (TSM +0.4%).
- TSMC also happens to be Altera's traditional foundry partner. Xilinx began shipping FPGAs based on the foundry's new 20nm process last fall.
- Intel has said it plans to be a "selective" foundry for 3rd-party chipmakers, one focused on higher-margin/value-add deals. In addition to Altera, the chip giant may have landed Cisco as a client.
Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.
XLNX vs. ETF Alternatives
Other News & PR