Todays Report: Today, Linear Technology Corp. (LLTC) Lowered to Market Perform at Citigroup Inc.

Today, Linear Technology Corp. (LLTC) Lowered to Market Perform at Citigroup Inc.

Citigroup Inc. downgraded shares of Linear Technology Corp. (NASDAQ:LLTC) to a market perform rating in a research note issued to investors on Monday, The Fly reports.

Several other analysts also recently weighed in on the company. Zacks Investment Research downgraded Linear Technology Corp. from a hold rating to a sell rating in a research note on Tuesday, September 27th. B. Riley restated a neutral rating and set a $62.00 target price on shares of Linear Technology Corp. in a research note on Monday, August 1st. JPMorgan Chase & Co. raised their target price on Linear Technology Corp. from $47.00 to $62.00 and gave the company a neutral rating in a research note on Wednesday, July 27th. BMO Capital Markets restated a hold rating and set a $60.00 target price on shares of Linear Technology Corp. in a research note on Wednesday, July 27th. Finally, Drexel Hamilton restated a hold rating on shares of Linear Technology Corp. in a research note on Wednesday, July 27th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. Linear Technology Corp. has an average rating of Hold and an average price target of $55.25.

Linear Technology Corp. (NASDAQ:LLTC) traded up 0.39% on Monday, reaching $59.21. The company had a trading volume of 301,280 shares. The stock’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 $14.19 billion, a price-to-earnings ratio of 29.31 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.

Linear Technology Corp. (NASDAQ:LLTC) last announced its earnings results on Tuesday, July 26th. The company reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. The company earned $373.77 million during the quarter, compared to the consensus estimate of $373.91 million. Linear Technology Corp. had a return on equity of 29.64% and a net margin of 34.72%. The company’s revenue was down 1.5% on a year-over-year basis. During the same period last year, the firm earned $0.54 earnings per share. On average, equities analysts anticipate that Linear Technology Corp. will post $2.18 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake 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 worth $1,106,476,000 after buying an additional 696,568 shares during the period. First Eagle Investment Management LLC boosted its stake in Linear Technology Corp. by 0.8% in the second quarter. First Eagle Investment Management LLC now owns 13,816,539 shares of the company’s stock worth $642,884,000 after buying an additional 106,155 shares during the period. State Street Corp boosted its stake in Linear Technology Corp. by 1.0% in the second quarter. State Street Corp now owns 13,080,726 shares of the company’s stock worth $608,646,000 after buying an additional 134,269 shares during the period. BlackRock Institutional Trust Company N.A. boosted its stake in Linear Technology Corp. by 3.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 6,322,869 shares of the company’s stock worth $294,203,000 after buying an additional 187,712 shares during the period. Finally, Wellington Management Group LLP boosted its stake 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 worth $244,937,000 after buying an additional 2,745,797 shares during the period. 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.

Related posts

Leave a Comment