Insider Selling: Linear Technology Corp. Chairman Unloads 5,739 Shares of Stock (LLTC)
Linear Technology Corp. (NASDAQ:LLTC) Chairman Robert H. Swanson, Jr. unloaded 5,739 shares of Linear Technology Corp. stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $44.25, for a total transaction of $253,950.75. Following the completion of the sale, the chairman now directly owns 161,197 shares of the company’s stock, valued at approximately $7,132,967. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Linear Technology Corp. (NASDAQ:LLTC) traded up 0.97% during mid-day trading on Tuesday, hitting $44.75. 1,089,136 shares of the company’s stock traded hands. Linear Technology Corp. has a one year low of $34.21 and a one year high of $46.74. The stock has a 50-day moving average of $45.01 and a 200-day moving average of $41.65. The company has a market cap of $10.704 billion and a price-to-earnings ratio of 24.90.
Linear Technology Corp. (NASDAQ:LLTC) last posted its quarterly earnings results on Wednesday, January 15th. The company reported $0.44 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.40 earnings per share. Linear Technology Corp.’s revenue was up 9.6% compared to the same quarter last year. Analysts expect that Linear Technology Corp. will post $1.93 EPS 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 2.44%. The ex-dividend date is Wednesday, February 12th. This is an increase from Linear Technology Corp.’s previous quarterly dividend of $0.26.
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 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 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 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 research analyst has rated the stock with a sell rating, ten have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $42.57.
Linear Technology Corporation (NASDAQ:LLTC) designs, manufactures and markets a line of linear analog integrated circuits for companies worldwide.
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