Linear Technology Corp. (NASDAQ:LLTC)’s share price dropped 4.5% on Wednesday . The stock traded as low as $59.68 and last traded at $59.68, with a volume of 14,133,592 shares changing hands. The stock had previously closed at $62.49.

LLTC has been the subject of several analyst reports. Credit Agricole SA initiated coverage on Linear Technology Corp. in a report on Monday, May 16th. They set an “underperform” rating and a $45.00 price target for the company. Wells Fargo & Co. restated an “outperform” rating on shares of Linear Technology Corp. in a report on Friday, May 13th. Zacks Investment Research upgraded Linear Technology Corp. from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Tuesday, June 21st. Goldman Sachs Group Inc. started coverage on Linear Technology Corp. in a report on Thursday, June 2nd. They set a “neutral” rating and a $46.00 price target for the company. Finally, Drexel Hamilton reiterated a “hold” rating on shares of Linear Technology Corp. in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and four have issued a buy rating to the stock. Linear Technology Corp. has a consensus rating of “Hold” and a consensus target price of $52.86.

The company has a market cap of $14.16 billion and a PE ratio of 29.32. The firm’s 50-day moving average price is $47.59 and its 200-day moving average price is $44.72.

Linear Technology Corp. (NASDAQ:LLTC) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.54 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.54. During the same quarter in the prior year, the company posted $0.54 EPS. The business had revenue of $373.77 million for the quarter, compared to analysts’ expectations of $373.91 million. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities analysts predict that Linear Technology Corp. will post $2.17 earnings per share for the current year.

A number of institutional investors have modified their holdings of LLTC. Vanguard Group Inc. increased its position in shares of Linear Technology Corp. by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 22,177,640 shares of the company’s stock worth $941,884,000 after buying an additional 500,744 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Linear Technology Corp. by 0.4% in the fourth quarter. Diamond Hill Capital Management Inc. now owns 3,289,233 shares of the company’s stock worth $139,694,000 after buying an additional 13,441 shares in the last quarter. BlackRock Advisors LLC increased its position in shares of Linear Technology Corp. by 14.5% in the fourth quarter. BlackRock Advisors LLC now owns 1,688,767 shares of the company’s stock worth $71,722,000 after buying an additional 213,599 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Linear Technology Corp. by 27.9% in the fourth quarter. Wells Fargo & Company MN now owns 582,691 shares of the company’s stock worth $24,746,000 after buying an additional 127,244 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Linear Technology Corp. by 2.0% in the fourth quarter. Principal Financial Group Inc. now owns 356,867 shares of the company’s stock worth $15,156,000 after buying an additional 7,091 shares in the last quarter.

Linear Technology Corporation is engaged in designing, manufacturing and marketing a line of analog integrated circuits for companies across the world. The Company’s principal product categories include Amplifiers, High Speed Amplifiers, Voltage Regulators, Voltage References, Interface, Data Converters, Battery Stack Monitors, Silicon Oscillators and Timer Blox, Phase Locked Loop (PLL) Synthesizers and Clock Distribution, SmartMesh Embedded Wireless Sensor Network, Isolated uModule Transceivers, Radio Frequency Circuits, Power Over Ethernet (PoE) Controllers, uModule Power Products, Signal Chain uModule Products and Others.

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