Linear Technology Corp. (LLTC) Downgraded by Oppenheimer Holdings Inc.
Linear Technology Corp. (NASDAQ:LLTC) was downgraded by research analysts at Oppenheimer Holdings Inc. from an “outperform” rating to a “market perform” rating in a note issued to investors on Monday.
LLTC has been the subject of a number of other research reports. B. Riley restated a “neutral” rating and set a $62.00 target price on shares of Linear Technology Corp. in a report on Monday, August 1st. Citigroup Inc. lowered Linear Technology Corp. to a “market perform” rating in a report on Monday. Goldman Sachs Group Inc. upped their target price on Linear Technology Corp. from $46.00 to $59.00 and gave the stock a “neutral” rating in a report on Wednesday, July 27th. Zacks Investment Research upgraded Linear Technology Corp. from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a report on Thursday, July 28th. Finally, Morgan Stanley lowered Linear Technology Corp. from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $51.00 to $64.00 in a report on Wednesday, July 27th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $55.25.
Shares of Linear Technology Corp. (NASDAQ:LLTC) remained flat at $59.09 during mid-day trading on Monday. The company’s stock had a trading volume of 433,848 shares. The stock has a market cap of $14.17 billion, a P/E ratio of 29.25 and a beta of 1.24. Linear Technology Corp. has a 52-week low of $37.33 and a 52-week high of $64.42. The firm has a 50-day moving average of $58.80 and a 200-day moving average of $51.36.
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Linear Technology Corp. (NASDAQ:LLTC) last posted its earnings results on Tuesday, July 26th. The company reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. The company earned $373.77 million during the quarter, compared to analyst estimates of $373.91 million. Linear Technology Corp. had a return on equity of 29.64% and a net margin of 34.72%. Linear Technology Corp.’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 earnings per share. Equities analysts expect that Linear Technology Corp. will post $2.18 EPS for the current fiscal year.
A number of large investors have recently made changes to their positions in the company. Assetmark bought a new stake in shares of Linear Technology Corp. during the third quarter valued at $0. CENTRAL TRUST Co increased its stake in shares of Linear Technology Corp. by 3.5% in the second quarter. CENTRAL TRUST Co now owns 2,985 shares of the company’s stock valued at $139,000 after buying an additional 100 shares in the last quarter. Mizuho Asset Management Co. Ltd. increased its stake in shares of Linear Technology Corp. by 73.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,037 shares of the company’s stock valued at $141,000 after buying an additional 1,291 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Linear Technology Corp. by 569.4% in the second quarter. IFP Advisors Inc now owns 3,608 shares of the company’s stock valued at $168,000 after buying an additional 3,069 shares in the last quarter. Finally, Integrated Investment Consultants LLC increased its stake in shares of Linear Technology Corp. by 21.1% in the second quarter. Integrated Investment Consultants LLC now owns 4,085 shares of the company’s stock valued at $190,000 after buying an additional 713 shares in the last quarter. 92.46% of the stock is currently owned by institutional investors.
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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