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Xilinx Q2 Profit Falls, but Still Beats View; Sales & Forecast Miss Estimates (XLNX)

By Dividend.com,  October 18, 2012, 08:15:57 AM EDT

Microchip maker Xilinx, Inc. ( XLNX ) late Wednesday posted mixed fiscal second quarter earnings and provided a weak third quarter sales outlook.

The San Jose, CA-based company reported fiscal second quarter net income of $123.4 million, or 46 cents per share, compared with $126.3 million, or 47 cents per share, in the year-ago period.

Revenue slipped 2% from last year to $543.9 million.

On average, Wall Street analysts expected a smaller profit of 41 cents per share, albeit on higher revenue of $548 million.

Looking ahead, XLNX forecast fiscal third quarter sales to fall 1% to 5% on a sequential basis, implying revenue of $516.7 million to $548.5 million. Analysts are currently looking for a much-higher $562 million in revenue for the current period.

Xilinx shares were unchanged in premarket trading Thursday.

The Bottom Line
Shares of Xilinx ( XLNX ) have a 2.59% dividend yield, based on last night's closing stock price of $33.96. The stock has technical support in the $30-$31 price area. If the shares can firm up, we see overhead resistance around the $35-$36 price levels.

Xilinx, Inc. ( XLNX ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: XLNX



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