Principal Financial Group Inc. Has $17,464,000 Stake in Linear Technology Corp. (LLTC)
Principal Financial Group Inc. increased its position in Linear Technology Corp. (NASDAQ:LLTC) by 2.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 375,330 shares of the company’s stock after buying an additional 9,266 shares during the period. Principal Financial Group Inc. owned about 0.15% of Linear Technology Corp. worth $17,464,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. CENTRAL TRUST Co boosted its stake in shares of Linear Technology Corp. by 3.5% in the second quarter. CENTRAL TRUST Co now owns 2,985 shares of the company’s stock worth $139,000 after buying an additional 100 shares in the last quarter. Integrated Investment Consultants LLC boosted its stake in shares of Linear Technology Corp. by 21.1% in the second quarter. Integrated Investment Consultants LLC now owns 4,085 shares of the company’s stock worth $190,000 after buying an additional 713 shares in the last quarter. GWM Advisors LLC bought a new stake in shares of Linear Technology Corp. during the second quarter worth approximately $206,000. Cohen Lawrence B bought a new stake in shares of Linear Technology Corp. during the second quarter worth approximately $207,000. Finally, Mckinley Capital Management LLC Delaware bought a new stake in shares of Linear Technology Corp. during the second quarter worth approximately $227,000. 92.45% of the stock is currently owned by hedge funds and other institutional investors.
Linear Technology Corp. (NASDAQ:LLTC) traded up 0.22% during midday trading on Wednesday, hitting $59.55. The stock had a trading volume of 193,320 shares. The firm has a 50-day moving average of $58.69 and a 200 day moving average of $50.64. The firm has a market capitalization of $14.28 billion, a P/E ratio of 29.48 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 posted its earnings results on Tuesday, July 26th. The company reported $0.54 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.54. Linear Technology Corp. had a net margin of 34.72% and a return on equity of 29.64%. The firm earned $373.77 million during the quarter, compared to the consensus estimate of $373.91 million. During the same period last year, the firm posted $0.54 EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities analysts forecast that Linear Technology Corp. will post $2.18 EPS for the current year.
LLTC has been the topic of a number of analyst reports. Zacks Investment Research raised Linear Technology Corp. from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Tuesday, June 21st. Morgan Stanley cut Linear Technology Corp. from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $51.00 to $64.00 in a research report on Wednesday, July 27th. BMO Capital Markets reaffirmed a “hold” rating and issued a $60.00 price objective on shares of Linear Technology Corp. in a research report on Wednesday, July 27th. Drexel Hamilton reaffirmed a “hold” rating on shares of Linear Technology Corp. in a research report on Wednesday, July 27th. Finally, Raymond James Financial Inc. raised Linear Technology Corp. from an “underperform” rating to a “market perform” rating in a research report on Wednesday, July 27th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price 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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