Today: Today, Investors Sell Linear Technology Corp. (LLTC) on Strength Following Insider Selling

Today, Investors Sell Linear Technology Corp. (LLTC) on Strength Following Insider Selling

Traders sold shares of Linear Technology Corp. (NASDAQ:LLTC) on strength during trading hours on Thursday after an insider sold shares in the company. $10.39 million flowed into the stock on the tick-up and $27.61 million flowed out of the stock on the tick-down, for a money net flow of $17.22 million out of the stock. Of all stocks tracked, Linear Technology Corp. had the 0th highest net out-flow for the day. Linear Technology Corp. traded up $0.14 for the day and closed at $62.20Specifically, VP Donald E. Paulus sold 9,998 shares of the firm’s stock in a transaction that occurred on Tuesday, October 25th. The shares were sold at an average price of $60.25, for a total transaction of $602,379.50. Following the completion of the sale, the vice president now owns 113,013 shares of the company’s stock, valued at $6,809,033.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Donald P. Zerio sold 1,169 shares of the firm’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $62.18, for a total transaction of $72,688.42. Following the sale, the chief financial officer now directly owns 77,172 shares of the company’s stock, valued at approximately $4,798,554.96. The disclosure for this sale can be found here. Corporate insiders own 1.20% of the company’s stock.

Several equities research analysts recently weighed in on LLTC shares. Zacks Investment Research downgraded shares of Linear Technology Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, September 27th. Citigroup Inc. cut shares of Linear Technology Corp. to a “market perform” rating in a report on Monday, October 17th. Oppenheimer Holdings Inc. cut shares of Linear Technology Corp. from an “outperform” rating to a “market perform” rating in a report on Monday, October 17th. Finally, B. Riley restated a “neutral” rating and issued a $60.00 target price on shares of Linear Technology Corp. in a report on Wednesday, October 19th. 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 company. Linear Technology Corp. currently has an average rating of “Hold” and an average price target of $55.08.

The firm’s 50-day moving average price is $60.04 and its 200-day moving average price is $54.47. The stock has a market cap of $14.95 billion, a P/E ratio of 30.64 and a beta of 1.16.

Linear Technology Corp. (NASDAQ:LLTC) last issued its quarterly earnings results on Tuesday, October 18th. The company reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by $0.01. Linear Technology Corp. had a net margin of 34.17% and a return on equity of 29.73%. The company had revenue of $373.90 million for the quarter, compared to analyst estimates of $377.66 million. During the same quarter in the previous year, the company posted $0.46 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. On average, equities analysts expect that Linear Technology Corp. will post $2.20 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Stockholders of record on Friday, November 18th will be paid a $0.32 dividend. The ex-dividend date is Wednesday, November 16th. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.06%. Linear Technology Corp.’s payout ratio is currently 63.05%.

Several hedge funds have recently added to or reduced their stakes in LLTC. Cooke & Bieler LP raised its stake in Linear Technology Corp. by 22.2% in the second quarter. Cooke & Bieler LP now owns 1,598,999 shares of the company’s stock worth $74,401,000 after buying an additional 290,675 shares during the last quarter. Confluence Investment Management LLC raised its stake in Linear Technology Corp. by 9.2% in the second quarter. Confluence Investment Management LLC now owns 1,365,972 shares of the company’s stock worth $63,559,000 after buying an additional 115,374 shares during the last quarter. Armstrong Henry H Associates Inc. raised its stake in Linear Technology Corp. by 0.3% in the second quarter. Armstrong Henry H Associates Inc. now owns 961,321 shares of the company’s stock worth $44,730,000 after buying an additional 3,016 shares during the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI raised its stake in Linear Technology Corp. by 1.0% in the second quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 305,788 shares of the company’s stock worth $14,228,000 after buying an additional 3,015 shares during the last quarter. Finally, Jensen Investment Management Inc. raised its stake in Linear Technology Corp. by 1.3% in the second quarter. Jensen Investment Management Inc. now owns 9,220 shares of the company’s stock worth $429,000 after buying an additional 120 shares during the last quarter. Hedge funds and other institutional investors own 88.62% of the company’s stock.

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