XLNX and LRCX Move in Opposite Directions after Earnings



Xilinx stock fell after hours

On April 24, several semiconductor stocks made new 52-week highs. Among them was Xilinx (XLNX), which made a new all-time high of $141.6 ahead of its fiscal 2019 fourth-quarter earnings. The company released its earnings at the end of the trading session. The stock fell 8.5% in the after-hours session to $127.81, down 9.7% from its new 52-week high.

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Xilinx stock fell as a result of its fiscal 2019 fourth-quarter EPS missing the analysts’ estimate by 2.1%. However, the company reported strong guidance for the first quarter of fiscal 2020. The stock is expected to grow on April 25 as investors react to guidance. Xilinx’s earnings also pulled down stocks of peers Intel and NVIDIA by as much as 1% in after-hours trading on April 24.

Lam Research’s stock soars after hours

While Xilinx’s stock fell, Lam Research’s (LRCX) stock soared in the April 24 after-hours trading session as the latter released its fiscal 2019 third-quarter earnings, which beat analysts’ estimates. Lam Research’s EPS beat the consensus estimate by 9.5%, which sent the stock up 4.6% to $204.45 in after-hours trading. The stock is trading close to its 52-week high of $209.92. Lam Research’s earnings also pushed peer Applied Materials’ (AMAT) stock up 3.5% in the after-hours trading.

YTD performance

With yesterday’s rally, Xilinx’s stock has risen 60.9% YTD, outperforming the VanEck Vectors Semiconductor ETF (SMH) and the SPDR S&P 500 ETF (SPY), which have risen 36% and 16.8%, respectively. Both ETFs made a new 52-week high on April 24. Xilinx also outperformed 2018’s best performing semiconductor stock Advanced Micro Devices (AMD), which has risen 51% YTD.

On the other hand, Lam Research’s stock rose 41.3% YTD, outperforming the semiconductor sector and the stock market. The stock also outperformed peers Applied Materials and KLA Corporation, which rose 32.8% and 38.2%, respectively, YTD.

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