Insider Selling: Steve Pietkiewicz Sells 5,000 Shares of Linear Technology Corp. Stock (LLTC)
Linear Technology Corp. (NASDAQ:LLTC) VP Steve Pietkiewicz sold 5,000 shares of Linear Technology Corp. stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $44.74, for a total value of $223,700.00. Following the transaction, the vice president now directly owns 77,880 shares in the company, valued at approximately $3,484,351. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Linear Technology Corp. (NASDAQ:LLTC) traded up 0.65% on Wednesday, hitting $44.99. 1,826,609 shares of the company’s stock traded hands. 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 $44. and its 200-day moving average is $41.73. The company has a market cap of $10.762 billion and a P/E ratio of 25.11.
Linear Technology Corp. (NASDAQ:LLTC) last released its earnings data 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. 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. Stockholders 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 2.42%. The ex-dividend date is Wednesday, February 12th. This is a boost from Linear Technology Corp.’s previous quarterly dividend of $0.26.
LLTC has been the subject of a number of recent research reports. 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 investment analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus 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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