Goldman Sachs Maintains a 'Neutral' on Xilinx (XLNX); Miss Not Surprising Given Weaker Updates from Peers; Prefer ALTR
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Price: $194.92 --0%
Rating Summary:
7 Buy, 28 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
7 Buy, 28 Hold, 2 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
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Goldman Sachs maintains a 'Neutral' on Xilinx (NASDAQ: XLNX) price target of $27.00.
Goldman analyst says, "Xilinx lowered its revenue guidance in an unscheduled update on Dec. 19. It now expects sales to be down 9% to 12% qoq (implied $489-$505 mn), lower than prior guidance of down 3% to 8%, and below both the Street at $520 mn and GS at $511 mn...We remain Neutral on the stock, but are becoming more constructive on PLD fundamentals as we believe shipment levels are likely to bottom in 4Q11."
"We continue to prefer Altera (Nasdaq: ALTR) to Xilinx on a relative basis. In the medium term, we believe that Altera will continue to gain share relative to Xilinx, as 40 nm sales (where Altera holds over 60% share) are still several quarters away from peaking as a percentage of total sales. We are reducing our near-term estimates given the lower sales outlook: FY2012/13/14 EPS to $1.75/$1.60/$1.90 from $1.80/$1.65/$1.90."
For an analyst ratings summary and ratings history on Xilinx click here. For more ratings news on Xilinx click here.
Shares of Xilinx closed at $31.21 yesterday.
Goldman analyst says, "Xilinx lowered its revenue guidance in an unscheduled update on Dec. 19. It now expects sales to be down 9% to 12% qoq (implied $489-$505 mn), lower than prior guidance of down 3% to 8%, and below both the Street at $520 mn and GS at $511 mn...We remain Neutral on the stock, but are becoming more constructive on PLD fundamentals as we believe shipment levels are likely to bottom in 4Q11."
"We continue to prefer Altera (Nasdaq: ALTR) to Xilinx on a relative basis. In the medium term, we believe that Altera will continue to gain share relative to Xilinx, as 40 nm sales (where Altera holds over 60% share) are still several quarters away from peaking as a percentage of total sales. We are reducing our near-term estimates given the lower sales outlook: FY2012/13/14 EPS to $1.75/$1.60/$1.90 from $1.80/$1.65/$1.90."
For an analyst ratings summary and ratings history on Xilinx click here. For more ratings news on Xilinx click here.
Shares of Xilinx closed at $31.21 yesterday.
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