Investors Sell Linear Technology Corp. (LLTC) on Strength on Insider Selling
Investors sold shares of Linear Technology Corp. (NASDAQ:LLTC) on strength during trading on Wednesday following insider selling activity. $10.39 million flowed into the stock on the tick-up and $27.61 million flowed out of the stock on the tick-down, for a money net flow of $17.22 million out of the stock. Of all stocks tracked, Linear Technology Corp. had the 24th highest net out-flow for the day. Linear Technology Corp. traded up $0.14 for the day and closed at $62.20Specifically, insider Robert H. Swanson, Jr. sold 21,298 shares of the business’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $60.97, for a total value of $1,298,539.06. Following the transaction, the insider now owns 144,695 shares in the company, valued at approximately $8,822,054.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Steve Pietkiewicz sold 1,770 shares of the business’s stock in a transaction that occurred on Monday, November 21st. The stock was sold at an average price of $60.25, for a total value of $106,642.50. Following the completion of the transaction, the vice president now owns 110,376 shares in the company, valued at approximately $6,650,154. The disclosure for this sale can be found here. Company insiders own 1.20% of the company’s stock.
A number of equities analysts have recently weighed in on the company. B. Riley restated a “neutral” rating and issued a $62.00 target price on shares of Linear Technology Corp. in a research note on Monday, August 1st. Citigroup Inc. downgraded Linear Technology Corp. to a “market perform” rating in a research note on Monday, October 17th. Goldman Sachs Group Inc. boosted their target price on Linear Technology Corp. from $46.00 to $59.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th. Zacks Investment Research upgraded Linear Technology Corp. from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Thursday, July 28th. Finally, Morgan Stanley downgraded Linear Technology Corp. from an “overweight” rating to an “equal weight” rating and boosted their target price for the stock from $51.00 to $64.00 in a research note on Wednesday, July 27th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $55.08.
The stock has a market capitalization of $14.95 billion, a PE ratio of 30.64 and a beta of 1.16. The company’s 50-day moving average price is $59.95 and its 200-day moving average price is $54.41.
Linear Technology Corp. (NASDAQ:LLTC) last released its quarterly earnings results on Tuesday, October 18th. The company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates 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 had revenue of $373.90 million for 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% on a year-over-year basis. Equities research analysts anticipate that Linear Technology Corp. will post $2.20 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Friday, November 18th will be given a $0.32 dividend. The ex-dividend date is Wednesday, November 16th. This represents a $1.28 annualized dividend and a yield of 2.06%. Linear Technology Corp.’s dividend payout ratio (DPR) is 63.05%.
Large investors have recently added to or reduced their stakes in the stock. AMP Capital Investors Ltd boosted its stake in Linear Technology Corp. by 4.7% in the first quarter. AMP Capital Investors Ltd now owns 106,883 shares of the company’s stock valued at $4,786,000 after buying an additional 4,800 shares during the period. Legal & General Group Plc raised its stake in Linear Technology Corp. by 2.3% in the first quarter. Legal & General Group Plc now owns 991,498 shares of the company’s stock valued at $44,180,000 after buying an additional 22,438 shares in the last quarter. LPL Financial LLC raised its stake in Linear Technology Corp. by 7.6% in the first quarter. LPL Financial LLC now owns 29,985 shares of the company’s stock valued at $1,334,000 after buying an additional 2,129 shares in the last quarter. Panagora Asset Management Inc. raised its stake 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 valued at $6,502,000 after buying an additional 121,710 shares in the last quarter. Finally, Babson Capital Management LLC acquired a new stake in Linear Technology Corp. during the first quarter valued at approximately $874,000. 88.62% of the stock is owned by institutional investors.
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.
Receive News & Stock Ratings for Linear Technology Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Linear Technology Corp. and related stocks with our FREE daily email newsletter.