Linear Technology Corp. (LLTC) Short Interest Up 47.6% in October
Linear Technology Corp. (NASDAQ:LLTC) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 5,416,865 shares, an increase of 47.6% from the October 14th total of 3,670,667 shares. Based on an average daily volume of 3,264,880 shares, the short-interest ratio is presently 1.7 days. Currently, 2.2% of the shares of the company are short sold.
Linear Technology Corp. (NASDAQ:LLTC) opened at 61.02 on Wednesday. The company’s 50-day moving average is $59.68 and its 200-day moving average is $53.80. The company has a market cap of $14.67 billion, a P/E ratio of 30.06 and a beta of 1.16. 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, October 18th. The company reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by $0.01. The firm had revenue of $373.90 million for the quarter, compared to the consensus estimate of $377.66 million. Linear Technology Corp. had a return on equity of 29.73% and a net margin of 34.17%. The business’s revenue was up 9.4% on a year-over-year basis. During the same period last year, the company posted $0.46 EPS. On average, analysts anticipate that Linear Technology Corp. will post $2.20 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Friday, November 18th will be paid a $0.32 dividend. The ex-dividend date of this dividend is Wednesday, November 16th. This represents a $1.28 dividend on an annualized basis and a yield of 2.10%. Linear Technology Corp.’s dividend payout ratio is presently 63.05%.
Several analysts recently issued reports on the stock. B. Riley reiterated a “neutral” rating and set a $62.00 price target on shares of Linear Technology Corp. in a research report on Monday, August 1st. Citigroup Inc. lowered shares of Linear Technology Corp. to a “market perform” rating in a research report on Monday, October 17th. Goldman Sachs Group Inc. increased their price target on shares of Linear Technology Corp. from $46.00 to $59.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 27th. Zacks Investment Research upgraded shares of Linear Technology Corp. from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a research report on Thursday, July 28th. Finally, Morgan Stanley lowered shares of Linear Technology Corp. from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $51.00 to $64.00 in a research report on Wednesday, July 27th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $55.08.
In related news, insider Robert H. Swanson, Jr. sold 20,598 shares of the stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $60.28, for a total transaction of $1,241,647.44. Following the sale, the insider now owns 144,695 shares in the company, valued at approximately $8,722,214.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert C. Dobkin sold 25,000 shares of the stock in a transaction that occurred on Wednesday, November 2nd. The stock was sold at an average price of $60.01, for a total transaction of $1,500,250.00. Following the sale, the vice president now owns 205,199 shares in the company, valued at approximately $12,313,991.99. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. First Republic Investment Management Inc. boosted its position in Linear Technology Corp. by 108.3% in the first quarter. First Republic Investment Management Inc. now owns 11,463 shares of the company’s stock worth $511,000 after buying an additional 5,959 shares in the last quarter. Cypress Capital Group boosted its position in Linear Technology Corp. by 1.1% in the first quarter. Cypress Capital Group now owns 9,157 shares of the company’s stock worth $408,000 after buying an additional 97 shares in the last quarter. Seven Eight Capital LLC boosted its position in Linear Technology Corp. by 46.0% in the first quarter. Seven Eight Capital LLC now owns 5,394 shares of the company’s stock worth $240,000 after buying an additional 1,700 shares in the last quarter. Babson Capital Management LLC bought a new position in Linear Technology Corp. during the first quarter worth approximately $874,000. Finally, Panagora Asset Management Inc. boosted its position in Linear Technology Corp. by 502.6% in the first quarter. Panagora Asset Management Inc. now owns 145,925 shares of the company’s stock worth $6,502,000 after buying an additional 121,710 shares in the last quarter. 87.41% of the stock is owned by institutional investors and hedge funds.
Linear Technology Corp. Company Profile
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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