According to Zacks, “Linear Technology is a leading OEM of analog and mixed signal semiconductors. Fiscal fourth-quarter earnings beat the Zacks Consensus Estimate by a penny. Analog Devices has agreed to acquire Linear in a cash and stock deal worth $14.8 billion. The acquisition is expected to be accretive to non-GAAP earnings and cash flow. Linear’s comprehensive product line, market position, cost reduction initiatives and strong balance sheet remain positives that will generate growth whenever cyclical pressures permit. Though the steady growth and profitability of its core industrial, communications infrastructure and automotive businesses may be positive over the long term, the increased competition and macro uncertainty remain an offsetting factor.”
LLTC has been the subject of a number of other reports. Goldman Sachs Group Inc. began coverage on shares of Linear Technology Corp. in a report on Thursday, June 2nd. They issued a neutral rating and a $46.00 price target for the company. B. Riley reissued a neutral rating and issued a $62.00 price target on shares of Linear Technology Corp. in a report on Wednesday, July 27th. Morgan Stanley downgraded shares of Linear Technology Corp. from an overweight rating to an equal weight rating and upped their price target for the company from $51.00 to $64.00 in a report on Wednesday, July 27th. Citigroup Inc. raised shares of Linear Technology Corp. from a sell rating to a neutral rating and upped their price target for the company from $37.00 to $62.00 in a report on Wednesday, July 27th. Finally, Raymond James Financial Inc. raised shares of Linear Technology Corp. from an underperform rating to a market perform rating in a report on Wednesday, July 27th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the company’s stock. Linear Technology Corp. currently has an average rating of Hold and a consensus price target of $53.86.
Shares of Linear Technology Corp. (NASDAQ:LLTC) opened at 59.29 on Tuesday. The stock has a market capitalization of $14.21 billion, a P/E ratio of 29.35 and a beta of 1.24. Linear Technology Corp. has a one year low of $37.33 and a one year high of $64.42. The stock’s 50 day moving average is $58.66 and its 200-day moving average is $50.33.
Linear Technology Corp. (NASDAQ:LLTC) last announced its earnings results on Tuesday, July 26th. The company reported $0.54 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.54. The firm earned $373.77 million during the quarter, compared to analyst estimates of $373.91 million. Linear Technology Corp. had a net margin of 34.72% and a return on equity of 29.64%. Linear Technology Corp.’s revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.54 EPS. On average, equities research analysts expect that Linear Technology Corp. will post $2.18 EPS for the current year.
Several hedge funds have recently bought and sold shares of LLTC. Geode Capital Management LLC raised its stake in Linear Technology Corp. by 7.9% in the first quarter. Geode Capital Management LLC now owns 2,167,497 shares of the company’s stock worth $96,409,000 after buying an additional 158,288 shares during the period. Confluence Investment Management LLC raised its stake in Linear Technology Corp. by 9.2% in the second quarter. Confluence Investment Management LLC now owns 1,365,972 shares of the company’s stock worth $63,559,000 after buying an additional 115,374 shares during the period. Wellington Management Group LLP raised its stake in Linear Technology Corp. by 99.8% in the first quarter. Wellington Management Group LLP now owns 5,496,815 shares of the company’s stock worth $244,937,000 after buying an additional 2,745,797 shares during the period. Pictet Asset Management Ltd. raised its stake in Linear Technology Corp. by 4.3% in the first quarter. Pictet Asset Management Ltd. now owns 230,533 shares of the company’s stock worth $10,056,000 after buying an additional 9,600 shares during the period. Finally, Loomis Sayles & Co. L P raised its stake in Linear Technology Corp. by 14.0% in the first quarter. Loomis Sayles & Co. L P now owns 152,940 shares of the company’s stock worth $6,815,000 after buying an additional 18,837 shares during the period. 92.45% of the stock is owned by institutional investors and hedge funds.
About Linear Technology Corp.
Linear Technology Corporation is engaged in designing, manufacturing and marketing a line of analog integrated circuits. The Company produces power management, data conversion, signal conditioning, radio frequency (RF) and interface integrated circuits (ICs) and wireless sensor network products, among others.
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