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Xilinx reduces 3Q sales expectation

A weak November will hurt third quarter results for Xilinx (Nasdaq: XLNX).

After market close Monday, the maker of programmable logic devices lowered its third quarter revenue growth target. Xilinx now sees revenue rising 5 to 7 percent from the second quarter. The company previously expected sequential growth of 12 percent.

Xilinx blamed the letdown on disappointing November bookings from large North American customers. Combined inventory days for Xilinx and its distributors in the third quarter are expected to be at the high end of the company's 150 to 180 day target.

Bookings in Europe, Japan and Southeast Asia should meet expectations for December, Xilinx said.

Monday's announcement confirms the suspicions of some observers. Last month, Lehman Bros. analyst Dan Niles downgraded Xilinx and Altera (Nasdaq: ALTR) on concerns that communications equipment manufacturers who use programmable logic chips had already stocked up on parts earlier this year.

Other analysts downgraded related chipmakers last week after Altera warned of disappointing results.

• Altera crashes chip sector
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• Xilinx earnings boost PLD stocks>