Research Desk Line-up: Microsemi Post Earnings Coverage
LONDON, UK / ACCESSWIRE / November 14, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Xilinx, Inc. (NASDAQ: XLNX), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=XLNX, following the Company's release of its second quarter fiscal 2018 operating results on October 25, 2017. The computer chipmaker marked its eighth consecutive quarter of sales growth and reported better than expected earnings, while it also provided guidance for FY18. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
Get more of our free earnings reports coverage from other constituents of the Semiconductor - Integrated Circuits industry. Pro-TD has currently selected Microsemi Corporation (NASDAQ: MSCC) for due-diligence and potential coverage as the Company reported on November 09, 2017, its unaudited results for Q4 FY17 and FY17 which ended on October 01, 2017. Register for a free membership today, and be among the early birds that get access to our report on Microsemi when we publish it.
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on XLNX; also brushing on MSCC. With the links below you can directly download the report of your stock of interest free of charge at:
For the three months ended September 30, 2017, Xilinx announced sales of $619.53 million, up approximately 7% from $579.21 million in Q2 FY17. The Company's revenue numbers fell short of analysts' estimates of $620.4 million.
For Q2 FY18, Xilinx's gross margin was $434.72 million compared to $403.33 million for Q2 FY17. The Company's operating expenses totaled $249.55 million versus $226.52 million in the prior year's same quarter and were lower than the Company's guidance as R&D expenses came in slightly lower than expected. Xilinx's operating income increased 5% to $185.17 million on y-o-y basis for the reported quarter compared to $176.81 million in Q2 FY17.
Xilinx reported a net income of $168 million, or $0.65 per diluted share, in Q2 FY18 compared to a net income of $164 million, or $0.61 per diluted share, in Q2 FY17; reflecting increases of 2% and 7%, respectively. The Company's earnings beat Wall Street's expectations of $0.62 per share.
During Q2 FY18, Xilinx's Industrial, Aerospace, and Defense end market set a quarterly record with revenues of $278 million, representing an increase of 17% on a y-o-y basis, and constituted 45% of the total revenues of Xilinx.
For Q2 FY18, Xilinx's Advanced Products category continued to deliver solid revenue growth, posting an increase of 21% on a y-o-y basis. Broad-based growth was driven from the Zynq SoC platform and from the industry-leading 20nm and 16nm technology nodes. Revenues derived from Zynq increased 65% on a y-o-y basis, and were driven largely by applications in Advanced Driver Assist (ADAS). Revenues from the 20nm node increased more than 40% from the year-ago comparable quarter, while revenues from the 16nm node almost quadrupled in the reported quarter, reflecting a broader customer and multi-market adoption.
Xilinx ended Q2 FY18 with $3.56 billion in cash, cash equivalents, and short-term investments, while it had $1.9 billion in net cash after excluding the Company's debt. Xilinx's operating cash flow totaled $202.14 million for the reported quarter compared to $183.59 million in the year-ago corresponding period.
During Q2 FY18, Xilinx returned $257 million to shareholders in the form of $87 million in dividends, and the repurchase of approximately 2.6 million shares for $170 million at an average price of $65.04 per share. The Company currently has $445 million remaining on that authorization.
Xilinx's Board of Directors declared a quarterly cash dividend of $0.35 per outstanding share of common stock, payable on December 06, 2017, to all stockholders of record at the close of business on November 15, 2017.
For FY18, Xilinx is forecasting sales to be in the range of $615 million - $645 million. The Company's gross margin is expected to be in the band of 69% to 71%, while operating expenses are expected to increase to approximately $260 million.
At the closing bell, on Monday, November 13, 2017, Xilinx's stock marginally climbed 0.64%, ending the trading session at $72.33. A total volume of 1.44 million shares have exchanged hands. The Company's stock price soared 15.47% in the last three months, 10.49% in the past six months, and 40.07% in the previous twelve months. Moreover, the stock surged 19.81% since the start of the year. The stock is trading at a PE ratio of 30.40 and has a dividend yield of 1.94%. The stock currently has a market cap of $17.87 billion.
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