Insider Selling: David S. Lee Sells 40,000 Shares of Linear Technology Corp. Stock (LLTC)
Linear Technology Corp. (NASDAQ:LLTC) Director David S. Lee sold 40,000 shares of the company’s stock on the open market in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $43.38, for a total value of $1,735,200.00. Following the sale, the director now directly owns 18,000 shares of the company’s stock, valued at approximately $780,840. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A number of analysts have recently weighed in on LLTC shares. Analysts at Citigroup Inc. upgraded shares of Linear Technology Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Friday, January 31st. They now have a $53.00 price target on the stock, up previously from $43.00. Separately, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Linear Technology Corp. in a research note to investors on Wednesday, January 29th. They now have a $54.00 price target on the stock, up previously from $47.00. Finally, analysts at UBS AG raised their EPS on shares of Linear Technology Corp. in a research note to investors on Thursday, January 16th. They now have a “neutral” rating and a $46.00 price target on the stock. They previously had a $40.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $42.57.
Linear Technology Corp. (NASDAQ:LLTC) traded up 0.45% on Wednesday, hitting $43.5531. The stock had a trading volume of 1,233,174 shares. Linear Technology Corp. has a 52-week low of $34.21 and a 52-week high of $46.74. The stock’s 50-day moving average is $45.14 and its 200-day moving average is $41.54. The company has a market cap of $10.418 billion and a P/E ratio of 24.36.
Linear Technology Corp. (NASDAQ:LLTC) last announced its earnings results on Wednesday, January 15th. The company reported $0.44 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.45 by $0.01. The company had revenue of $334.60 million for the quarter, compared to the consensus estimate of $334.79 million. During the same quarter in the prior year, the company posted $0.40 earnings per share. The company’s quarterly revenue was up 9.6% on a year-over-year basis. On average, analysts predict that Linear Technology Corp. will post $1.93 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, February 26th. Investors of record on Friday, February 14th will be paid a dividend of 0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.49%. The ex-dividend date is Wednesday, February 12th. This is an increase from Linear Technology Corp.’s previous quarterly dividend of $0.26.
Linear Technology Corporation (NASDAQ:LLTC) designs, manufactures and markets a line of linear analog integrated circuits for companies worldwide.
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