Short Interest in Linear Technology Decreases By 20.7% (LLTC)
Linear Technology (NASDAQ:LLTC) was the target of a significant drop in short interest during the month of May. As of May 15th, there was short interest totalling 7,127,984 shares, a drop of 20.7% from the April 30th total of 8,985,067 shares, Stock Ratings Network.com reports. Based on an average daily trading volume, of 2,130,888 shares, the short-interest ratio is currently 3.3 days. Approximately 3.1% of the company’s shares are sold short.
In other Linear Technology news, VP Robert Reay unloaded 25,000 shares of Linear Technology stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $46.17, for a total value of $1,154,250.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
A number of research firms have recently commented on LLTC. Analysts at Zacks reiterated a “neutral” rating on shares of Linear Technology in a research note on Monday. They now have a $48.00 price target on the stock. Separately, analysts at Citigroup Inc. downgraded shares of Linear Technology from a “buy” rating to a “neutral” rating in a research note on Friday, April 25th. They now have a $50.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Linear Technology presently has an average rating of “Hold” and an average target price of $43.54.
Shares of Linear Technology (NASDAQ:LLTC) opened at 45.99 on Tuesday. Linear Technology has a 52-week low of $35.51 and a 52-week high of $51.77. The stock’s 50-day moving average is $45. and its 200-day moving average is $45.51. The company has a market cap of $10.879 billion and a P/E ratio of 25.64.
Linear Technology (NASDAQ:LLTC) last issued its quarterly earnings data on Tuesday, April 15th. The company reported $0.56 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.48 by $0.08. The company had revenue of $348.00 million for the quarter, compared to the consensus estimate of $350.01 million. During the same quarter in the prior year, the company posted $0.48 earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. On average, analysts predict that Linear Technology will post $1.88 earnings per share for the current fiscal year.
Linear Technology Corporation (NASDAQ:LLTC) is designing, manufacturing and marketing a range of analog integrated circuits for companies globally.
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