Markets & Finance

AG Edwards Cuts Xilinx to Hold


AG Edwards downgraded Xilinx (XLNX) to hold from buy.

Analyst David Wong says he's downgrading Xilinx on the increasing deteriorating business environment in semiconductors. He says specific near-term risks to Xilinx include weakness in wireless base stations and overall weakness in the communications and consumer end markets. He says while this is likely to be temporary, it could have an important impact on revenues and earnings through the rest of calendar 2004 and into calendar 200.

Wong cut the 27 cents second-quarter EPS estimate to 26 cents, cut the $1.19 fiscal 2005 (March) estimate to $1.06, and cut the $1.56 fiscal 2006 estimate to $1.25. Given the revised earnings estimates, he thinks Xilinx's stock is fairly valued in the current range.


Tim Cook's Reboot
LIMITED-TIME OFFER SUBSCRIBE NOW

Sponsored Financial Commentaries

Sponsored Links

Buy a link now!

 
blog comments powered by Disqus