Earnings season is underway for our portfolio holdings this week, with two already reporting and kicking into high gear on Wednesday. Reports will be running heavy through next week with a few stragglers coming in after that. We’ll be keeping an eye on them and will send out flash alerts if there’s any particularly good news or bad, otherwise we will be updating you via Breakthrough Tech Weekly.

Xilinx (NSDQ: XLNX) had a much better than expected second quarter as revenue rose nearly 10% year-over-year to $579.2 million. Sales of its advanced products, including programmable logic chips, shot up 61% and more than made up for a 14% decline in core product sales. Aerospace and defense demand was especially strong, gaining 11% in the quarter.

Thanks to healthy margins, earnings pushed up 29% to $164.2 million, or $0.61 per share, compared to $127.3 million, or $0.48 per share, last year. Analysts had predicted earnings of just $0.55 in the quarter.

The company predicts that third quarter results will be basically flat compared to the second quarter, but the consensus analyst estimate is for revenue to rise a bit more to $584.5 million. They seem to be pricing in some margin compression, with EPS forecast to come in at $0.49. Management also said that it plans to be “more deliberate” about share buybacks, which makes sense given its appreciation over the past few years, though Xilinx does plan to invest more in its business and could increase its dividend if it wanted to.

I expect Xilinx to continue posting steady growth because, as devices continue to get smarter and smarter, incorporating artificial intelligence and machine learning, demand for programmable chips will only grow from here.

Continue buying Xilinx under $53.

Results weren’t as strong from Parker-Hannifin (NYSE:PH), our exoskeleton play which makes motion and control systems including motorized leg braces, where net sales fell 4.4% year-over-year to $2.74 billion. While sales have been posting consistent quarterly declines, the drops have been slowing. Orders also turned positive in the quarter for the first time since the end of 2014, with particularly strong 14 growth in the aerospace segment. That’s a good indication that the business might be turning a corner.

EPS also bounced 5.9% higher compared to last year, hitting $1.61 and beating the consensus estimate of $1.57. The company reiterated its full-year guidance, expecting adjusted EPS for the year to be in the range of $6.40 to $7.10. That would be flat to slightly up compared to the prior year.

Like so many other industrial companies, Parker-Hannifin has been working against a drop in business investment and unfavorable exchange rates. It’s restructuring efforts are helping to stabilize earnings though, which has helped to drive an almost 10% gain in the shares over the past three months.

Parker-Hannifin is still a buy on dips under $123.

Finally, while NXP Semiconductors (NSDQ: NXPI) won’t be announcing earnings until later this week, more news has broken about its potential buyout by Qualcomm (NSDQ: QCOM). While nothing has been made official yet, insiders familiar with the talks have leaked that Qualcomm expects to offer $110 per share in cash for NXP and the deal could be announced within days. NXP’s shares have lost some ground on the news while Qualcomm is up, a pretty good indication that the deal is more favorable to Qualcomm that many expected.

While the deal does seem to be progressing we’re staying on the sidelines and still rate NXP a hold.