Linear Technology Corp. (LLTC) Downgraded by Citigroup Inc. to Market Perform
Linear Technology Corp. (NASDAQ:LLTC) was downgraded by analysts at Citigroup Inc. to a “market perform” rating in a research report issued to clients and investors on Monday, The Fly reports.
A number of other equities analysts have also commented on the company. Zacks Investment Research lowered Linear Technology Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, September 27th. Raymond James Financial Inc. raised Linear Technology Corp. from an “underperform” rating to a “market perform” rating in a research note on Wednesday, July 27th. Morgan Stanley lowered Linear Technology Corp. from an “overweight” rating to an “equal weight” rating and boosted their price target for the company from $51.00 to $64.00 in a research note on Wednesday, July 27th. Drexel Hamilton reissued a “hold” rating on shares of Linear Technology Corp. in a research note on Wednesday, July 27th. Finally, Goldman Sachs Group Inc. boosted their price target on Linear Technology Corp. from $46.00 to $59.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $55.25.
Linear Technology Corp. (NASDAQ:LLTC) traded down 0.19% during mid-day trading on Monday, reaching $58.98. The company had a trading volume of 1,848,194 shares. The firm’s 50-day moving average is $58.80 and its 200-day moving average is $51.36. Linear Technology Corp. has a one year low of $37.33 and a one year high of $64.42. The firm has a market capitalization of $14.14 billion, a P/E ratio of 29.20 and a beta of 1.24.
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Linear Technology Corp. (NASDAQ:LLTC) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.54 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.54. Linear Technology Corp. had a return on equity of 29.64% and a net margin of 34.72%. The firm had revenue of $373.77 million for the quarter, compared to analyst estimates of $373.91 million. During the same period last year, the firm posted $0.54 earnings per share. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities research analysts anticipate that Linear Technology Corp. will post $2.18 earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently bought and sold shares of LLTC. Wellington Management Group LLP boosted its position in Linear Technology Corp. by 99.8% in the first quarter. Wellington Management Group LLP now owns 5,496,815 shares of the company’s stock valued at $244,937,000 after buying an additional 2,745,797 shares in the last quarter. FMR LLC boosted its position in Linear Technology Corp. by 425.6% in the second quarter. FMR LLC now owns 1,437,101 shares of the company’s stock valued at $66,868,000 after buying an additional 1,163,675 shares in the last quarter. Bank of Montreal Can acquired a new position in Linear Technology Corp. during the second quarter valued at $45,508,000. Emerald Acquisition Ltd. acquired a new position in Linear Technology Corp. during the second quarter valued at $41,181,000. Finally, Vanguard Group Inc. boosted its position in Linear Technology Corp. by 3.0% in the second quarter. Vanguard Group Inc. now owns 23,779,840 shares of the company’s stock valued at $1,106,476,000 after buying an additional 696,568 shares in the last quarter. 92.46% of the stock is currently owned by institutional investors and hedge funds.
About Linear Technology Corp.
Linear Technology Corporation is engaged in designing, manufacturing and marketing a line of analog integrated circuits. The Company produces power management, data conversion, signal conditioning, radio frequency (RF) and interface integrated circuits (ICs) and wireless sensor network products, among others.
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