Lothar Maier Sells 274,642 Shares of Linear Technology Corp. (LLTC) Stock
Linear Technology Corp. (NASDAQ:LLTC) CEO Lothar Maier sold 274,642 shares of Linear Technology Corp. stock in a transaction dated Tuesday, November 15th. The stock was sold at an average price of $60.97, for a total value of $16,744,922.74. Following the completion of the transaction, the chief executive officer now owns 215,652 shares in the company, valued at approximately $13,148,302.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Linear Technology Corp. (NASDAQ:LLTC) opened at 60.81 on Friday. Linear Technology Corp. has a 12 month low of $37.33 and a 12 month high of $64.42. The company has a market capitalization of $14.62 billion, a PE ratio of 29.96 and a beta of 1.16. The stock has a 50 day moving average price of $59.76 and a 200-day moving average price of $53.90.
Linear Technology Corp. (NASDAQ:LLTC) last released its quarterly earnings results on Tuesday, October 18th. The company reported $0.53 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by $0.01. Linear Technology Corp. had a return on equity of 29.73% and a net margin of 34.17%. The firm earned $373.90 million during the quarter, compared to analysts’ expectations of $377.66 million. During the same period in the prior year, the firm posted $0.46 earnings per share. Linear Technology Corp.’s revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts forecast that Linear Technology Corp. will post $2.20 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Friday, November 18th will be issued a $0.32 dividend. This represents a $1.28 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend is Wednesday, November 16th. Linear Technology Corp.’s dividend payout ratio is currently 63.05%.
A number of institutional investors have recently added to or reduced their stakes in LLTC. Rowland & Co. Investment Counsel ADV raised its position in Linear Technology Corp. by 0.3% in the third quarter. Rowland & Co. Investment Counsel ADV now owns 11,273 shares of the company’s stock valued at $668,000 after buying an additional 29 shares in the last quarter. CIBC World Markets Inc. increased its stake in Linear Technology Corp. by 0.5% in the second quarter. CIBC World Markets Inc. now owns 10,053 shares of the company’s stock valued at $468,000 after buying an additional 51 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its stake in Linear Technology Corp. by 0.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 7,600 shares of the company’s stock valued at $451,000 after buying an additional 60 shares during the last quarter. Brown Advisory Inc. increased its stake in Linear Technology Corp. by 0.3% in the second quarter. Brown Advisory Inc. now owns 24,378 shares of the company’s stock valued at $1,134,000 after buying an additional 63 shares during the last quarter. Finally, Cypress Capital Group increased its stake in Linear Technology Corp. by 1.1% in the first quarter. Cypress Capital Group now owns 9,157 shares of the company’s stock valued at $408,000 after buying an additional 97 shares during the last quarter. 87.41% of the stock is currently owned by institutional investors and hedge funds.
LLTC has been the topic of several analyst reports. Oppenheimer Holdings Inc. downgraded Linear Technology Corp. from an “outperform” rating to a “market perform” rating in a report on Monday, October 17th. Zacks Investment Research downgraded Linear Technology Corp. from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. Citigroup Inc. upgraded Linear Technology Corp. from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $37.00 to $62.00 in a report on Wednesday, July 27th. B. Riley reiterated a “neutral” rating and issued a $60.00 price objective on shares of Linear Technology Corp. in a report on Monday, October 24th. Finally, Drexel Hamilton restated a “hold” rating on shares of Linear Technology Corp. in a report on Wednesday, July 27th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have assigned a buy rating to the stock. Linear Technology Corp. presently has an average rating of “Hold” and an average price target of $55.08.
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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