Xilinx (NASDAQ:XLNX) Projects Lower Sales in Surprise Announcement

Xilinx (NASDAQ:XLNX) shares have tumbled today after the unscheduled announcement Tuesday after the market closed lowering the sales results to be released in their upcoming fourth-quarter report.

Goldman Sachs (NYSE:GS) keeps their "Sell" rating on Xilinx, while lowering their EPS estimates for 2011.

For full year 2011, they lowered EPS estimates from $2.30 to $2.22.

Sales for Xilinx will come be down from 7 percent to 9 percent quarter over quarter, in a range of $564 million to $576 million. That far below the $605 million the Street is looking for.

Most of the sales weakness is coming from their large wireless communications customers, although backlog and customer projections appear to imply growth going forward.

Xilinx was trading at $28.07, down $0.32, or 1.13 percent, as of 12:37 PM EST.