Traders Buy Shares of Linear Technology Corp. (LLTC) on Weakness
Traders purchased shares of Linear Technology Corp. (NASDAQ:LLTC) on weakness during trading hours on Monday. $22.43 million flowed into the stock on the tick-up and $5.63 million flowed out of the stock on the tick-down, for a money net flow of $16.80 million into the stock. Of all equities tracked, Linear Technology Corp. had the 14th highest net in-flow for the day. Linear Technology Corp. traded down ($0.05) for the day and closed at $58.86
A number of analysts have recently commented on LLTC shares. Zacks Investment Research lowered Linear Technology Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. Credit Agricole SA started coverage on Linear Technology Corp. in a report on Monday, May 16th. They issued an “underperform” rating and a $45.00 price target on the stock. Citigroup Inc. upgraded Linear Technology Corp. from a “sell” rating to a “neutral” rating and boosted their price target for the company from $37.00 to $62.00 in a report on Wednesday, July 27th. Drexel Hamilton restated a “hold” rating on shares of Linear Technology Corp. in a report on Wednesday, July 27th. Finally, B. Riley restated a “neutral” rating and issued a $62.00 price target on shares of Linear Technology Corp. in a report on Wednesday, July 27th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $53.86.
The stock has a market cap of $14.40 billion and a P/E ratio of 29.14. The company’s 50-day moving average is $54.34 and its 200-day moving average is $47.21.
Linear Technology Corp. (NASDAQ:LLTC) last released its quarterly earnings results on Tuesday, July 26th. The company reported $0.54 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.54. During the same quarter in the previous year, the business posted $0.54 earnings per share. The business earned $373.77 million during the quarter, compared to the consensus estimate of $373.91 million. The firm’s revenue was down 1.5% on a year-over-year basis. On average, analysts expect that Linear Technology Corp. will post $2.18 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 24th. Shareholders of record on Friday, August 12th will be given a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, August 10th. This represents a $1.28 annualized dividend and a yield of 2.17%.
Several hedge funds have recently made changes to their positions in LLTC. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Linear Technology Corp. by 934.3% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 64,125 shares of the company’s stock valued at $2,723,000 after buying an additional 57,925 shares during the last quarter. BlackRock Advisors LLC increased its stake 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 valued at $71,722,000 after buying an additional 213,599 shares during the last quarter. Airain ltd purchased a new stake in shares of Linear Technology Corp. during the fourth quarter valued at approximately $1,450,000. Marshall Wace LLP purchased a new stake in shares of Linear Technology Corp. during the fourth quarter valued at approximately $2,088,000. Finally, Victory Capital Management Inc. increased its stake in shares of Linear Technology Corp. by 27.7% in the fourth quarter. Victory Capital Management Inc. now owns 52,535 shares of the company’s stock valued at $2,231,000 after buying an additional 11,384 shares during 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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