Trading Report: The Linear Technology Corp. (LLTC) Position Held by First Midwest Bank Trust Division

The Linear Technology Corp. (LLTC) Position Held by First Midwest Bank Trust Division

First Midwest Bank Trust Division continued to hold its position in shares of Linear Technology Corp. (NASDAQ:LLTC) during the second quarter, Holdings Channel reports. The fund owned 4,870 shares of the company’s stock at the end of the second quarter. First Midwest Bank Trust Division’s holdings in Linear Technology Corp. were worth $227,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of LLTC. Wellington Management Group LLP raised its stake in shares of 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 in the last quarter. Bank of Montreal Can acquired a new stake in shares of Linear Technology Corp. during the second quarter worth $45,508,000. Franklin Resources Inc. raised its stake in shares of Linear Technology Corp. by 21.0% in the first quarter. Franklin Resources Inc. now owns 2,996,723 shares of the company’s stock worth $133,534,000 after buying an additional 520,501 shares in the last quarter. DNB Asset Management AS raised its stake in shares of Linear Technology Corp. by 1,547.1% in the second quarter. DNB Asset Management AS now owns 285,502 shares of the company’s stock worth $13,284,000 after buying an additional 268,168 shares in the last quarter. Finally, NN Investment Partners Holdings N.V. raised its stake in shares of Linear Technology Corp. by 14,291.6% in the second quarter. NN Investment Partners Holdings N.V. now owns 258,473 shares of the company’s stock worth $12,028,000 after buying an additional 256,677 shares in the last quarter. Hedge funds and other institutional investors own 92.45% of the company’s stock.

Linear Technology Corp. (NASDAQ:LLTC) traded down 0.15% during mid-day trading on Friday, hitting $59.53. The stock had a trading volume of 1,261,157 shares. The firm’s 50-day moving average is $58.76 and its 200 day moving average is $50.88. Linear Technology Corp. has a one year low of $37.33 and a one year high of $64.42. The stock has a market cap of $14.27 billion, a PE ratio of 29.47 and a beta of 1.24.

Linear Technology Corp. (NASDAQ:LLTC) last issued its earnings results on Tuesday, July 26th. The company reported $0.54 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.54. The firm earned $373.77 million during the quarter, compared to analysts’ expectations of $373.91 million. Linear Technology Corp. had a net margin of 34.72% and a return on equity of 29.64%. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period last year, the firm posted $0.54 earnings per share. Equities research analysts expect that Linear Technology Corp. will post $2.18 EPS for the current year.

Several brokerages have recently commented on LLTC. BMO Capital Markets reissued a “hold” rating and set a $60.00 price target on shares of Linear Technology Corp. in a research note on Wednesday, July 27th. Goldman Sachs Group Inc. boosted their price target on Linear Technology Corp. from $46.00 to $59.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Citigroup Inc. raised Linear Technology Corp. from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $37.00 to $62.00 in a research note on Wednesday, July 27th. B. Riley reissued a “neutral” rating and set a $62.00 price target on shares of Linear Technology Corp. in a research note on Wednesday, July 27th. Finally, Drexel Hamilton reissued a “hold” rating on shares of Linear Technology Corp. in a research note on Wednesday, July 27th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the stock. Linear Technology Corp. presently has a consensus rating of “Hold” and a consensus price target of $53.86.

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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