Linear Technology Corp. (LLTC) Issues Quarterly Earnings Results
Linear Technology Corp. (NASDAQ:LLTC) issued its earnings results on Tuesday. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by $0.01. The firm earned $373.90 million during the quarter, compared to analyst estimates of $377.66 million. Linear Technology Corp. had a net margin of 34.72% and a return on equity of 29.64%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.46 earnings per share.
Linear Technology Corp. (NASDAQ:LLTC) traded down 0.07% during trading on Tuesday, reaching $58.94. The company had a trading volume of 8,433,635 shares. The firm’s 50 day moving average price is $58.82 and its 200 day moving average price is $51.56. The firm has a market capitalization of $14.13 billion, a PE ratio of 29.18 and a beta of 1.24. Linear Technology Corp. has a 12-month low of $37.33 and a 12-month high of $64.42.
A number of research analysts recently commented on LLTC shares. Zacks Investment Research upgraded Linear Technology Corp. from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Tuesday, June 21st. B. Riley reiterated a “neutral” rating and set a $62.00 price objective on shares of Linear Technology Corp. in a research note on Wednesday, July 27th. Morgan Stanley lowered Linear Technology Corp. from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $51.00 to $64.00 in a research note on Wednesday, July 27th. Citigroup Inc. upgraded Linear Technology Corp. from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $37.00 to $62.00 in a research note on Wednesday, July 27th. Finally, Raymond James Financial Inc. upgraded Linear Technology Corp. from an “underperform” rating to a “market perform” rating in a research note on Wednesday, July 27th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $55.25.
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Hedge funds have recently added to or reduced their stakes in the stock. Bank of Nova Scotia purchased a new stake in Linear Technology Corp. during the second quarter valued at about $221,000. SOUTH STATE Corp purchased a new stake in Linear Technology Corp. during the second quarter valued at about $261,000. Seven Eight Capital LLC increased its stake in Linear Technology Corp. by 7.4% in the second quarter. Seven Eight Capital LLC now owns 5,794 shares of the company’s stock valued at $270,000 after buying an additional 400 shares during the period. Jefferies Group LLC increased its stake in Linear Technology Corp. by 29.4% in the second quarter. Jefferies Group LLC now owns 6,911 shares of the company’s stock valued at $322,000 after buying an additional 1,569 shares during the period. Finally, Gideon Capital Advisors Inc. purchased a new stake in Linear Technology Corp. during the second quarter valued at about $325,000. Institutional investors and hedge funds own 92.46% of the company’s stock.
Linear Technology Corp. Company Profile
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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