Linear Technology Chairman Unloads $302,614 in Stock (LLTC)
Linear Technology (NASDAQ:LLTC) Chairman Robert H. Swanson, Jr. unloaded 6,695 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $45.20, for a total transaction of $302,614.00. Following the completion of the transaction, the chairman now directly owns 210,936 shares of the company’s stock, valued at approximately $9,534,307. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Linear Technology (NASDAQ:LLTC) traded down 0.25% during mid-day trading on Tuesday, hitting $45.045. The stock had a trading volume of 979,419 shares. Linear Technology has a one year low of $38.05 and a one year high of $51.77. The stock’s 50-day moving average is $45.46 and its 200-day moving average is $46.27. The company has a market cap of $10.744 billion and a price-to-earnings ratio of 23.77.
Linear Technology (NASDAQ:LLTC) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.08. The company had revenue of $365.40 million for the quarter, compared to the consensus estimate of $362.51 million. During the same quarter in the previous year, the company posted $0.44 earnings per share. The company’s revenue for the quarter was up 11.6% on a year-over-year basis. On average, analysts predict that Linear Technology will post $2.21 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, August 27th. Shareholders of record on Friday, August 15th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.40%. The ex-dividend date of this dividend is Wednesday, August 13th.
A number of analysts have recently weighed in on LLTC shares. Analysts at Nomura reiterated a “neutral” rating on shares of Linear Technology in a research note on Thursday, July 24th. They now have a $42.00 price target on the stock, up previously from $40.00. Analysts at Zacks reiterated a “neutral” rating on shares of Linear Technology in a research note on Thursday, July 24th. They now have a $47.00 price target on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $44.64.
Linear Technology Corporation (NASDAQ:LLTC) is designing, manufacturing and marketing a range of analog integrated circuits for companies globally.
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