Robert C. Dobkin Sells 38,828 Shares of Linear Technology Corp. (LLTC) Stock
Linear Technology Corp. (NASDAQ:LLTC) VP Robert C. Dobkin sold 38,828 shares of the firm’s stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $63.39, for a total value of $2,461,306.92. Following the sale, the vice president now owns 195,126 shares in the company, valued at approximately $12,369,037.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Linear Technology Corp. (NASDAQ:LLTC) traded up 0.21% during mid-day trading on Tuesday, reaching $62.57. The company’s stock had a trading volume of 2,776,150 shares. Linear Technology Corp. has a one year low of $37.33 and a one year high of $64.42. The stock has a market cap of $15.04 billion, a P/E ratio of 30.82 and a beta of 1.16. The firm’s 50 day moving average is $60.20 and its 200-day moving average is $54.88.
Linear Technology Corp. (NASDAQ:LLTC) last announced its quarterly earnings results on Tuesday, October 18th. The company reported $0.53 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by $0.01. Linear Technology Corp. had a net margin of 34.17% and a return on equity of 29.73%. The business earned $373.90 million during the quarter, compared to the consensus estimate of $377.66 million. During the same period in the previous year, the business posted $0.46 EPS. The firm’s revenue was up 9.4% on a year-over-year basis. Equities analysts expect that Linear Technology Corp. will post $2.20 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 30th. Investors of record on Friday, November 18th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Wednesday, November 16th. Linear Technology Corp.’s payout ratio is 63.05%.
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Several hedge funds and other institutional investors have recently made changes to their positions in LLTC. Global X Management Co. LLC increased its position in shares of Linear Technology Corp. by 93.6% in the third quarter. Global X Management Co. LLC now owns 2,213 shares of the company’s stock worth $131,000 after buying an additional 1,070 shares during the last quarter. CENTRAL TRUST Co raised its stake in 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 during the period. Mizuho Asset Management Co. Ltd. raised its stake in Linear Technology Corp. by 73.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 3,037 shares of the company’s stock worth $141,000 after buying an additional 1,291 shares during the period. Woodmont Investment Counsel LLC purchased a new stake in Linear Technology Corp. during the third quarter worth $188,000. Finally, IFP Advisors Inc raised its stake in Linear Technology Corp. by 569.4% in the second quarter. IFP Advisors Inc now owns 3,608 shares of the company’s stock worth $168,000 after buying an additional 3,069 shares during the period. 89.15% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently commented on LLTC shares. 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. 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, Citigroup Inc. downgraded Linear Technology Corp. to a “market perform” rating in a report on Monday, October 17th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and two have issued a buy rating to the company’s stock. Linear Technology Corp. currently has an average rating of “Hold” and an average target price 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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