Alecta Pensionsforsakring Omsesidigt maintained its position in Linear Technology Corp. (NASDAQ:LLTC) during the third quarter, Holdings Channel reports. The institutional investor owned 3,100,000 shares of the company’s stock at the end of the third quarter. Linear Technology Corp. accounts for 1.8% of Alecta Pensionsforsakring Omsesidigt’s investment portfolio, making the stock its 23rd largest position. Alecta Pensionsforsakring Omsesidigt’s holdings in Linear Technology Corp. were worth $183,768,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mizuho Asset Management Co. Ltd. raised its position 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 last quarter. IFP Advisors Inc increased 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. Telemus Capital LLC acquired a new stake in Linear Technology Corp. during the third quarter worth $217,000. Seaward Management Limited Partnership acquired a new stake in Linear Technology Corp. during the third quarter worth $226,000. Finally, Atria Investments LLC acquired a new stake in Linear Technology Corp. during the third quarter worth $240,000. 89.01% of the stock is currently owned by institutional investors.
Linear Technology Corp. (NASDAQ:LLTC) opened at 62.45 on Thursday. Linear Technology Corp. has a 1-year low of $39.68 and a 1-year high of $64.42. The firm has a market capitalization of $15.35 billion, a price-to-earnings ratio of 30.61 and a beta of 1.15. The company has a 50-day moving average price of $62.29 and a 200 day moving average price of $58.88.
Linear Technology Corp. (NASDAQ:LLTC) last posted its earnings results on Tuesday, January 17th. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.53 by $0.01. Linear Technology Corp. had a return on equity of 29.89% and a net margin of 33.67%. The firm had revenue of $375.80 million for the quarter. During the same quarter in the prior year, the business earned $0.50 earnings per share. The firm’s revenue was up 8.3% compared to the same quarter last year. Equities analysts anticipate that Linear Technology Corp. will post $2.20 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 7th. Stockholders of record on Friday, February 24th will be given a dividend of $0.33 per share. The ex-dividend date is Wednesday, February 22nd. This is a boost from Linear Technology Corp.’s previous quarterly dividend of $0.32. This represents a $1.32 annualized dividend and a dividend yield of 2.11%. Linear Technology Corp.’s dividend payout ratio (DPR) is 63.05%.
A number of analysts recently weighed in on the company. B. Riley restated a “neutral” rating and issued a $60.00 price target on shares of Linear Technology Corp. in a research note on Tuesday. Drexel Hamilton restated a “hold” rating on shares of Linear Technology Corp. in a research note on Wednesday. Deutsche Bank AG lifted their price target on Linear Technology Corp. to $63.00 in a research note on Wednesday. Oppenheimer Holdings Inc. downgraded Linear Technology Corp. from an “outperform” rating to a “market perform” rating in a research note on Monday, October 17th. Finally, Citigroup Inc. downgraded Linear Technology Corp. to a “market perform” rating in a research note on Monday, October 17th. Three 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. Linear Technology Corp. presently has a consensus rating of “Hold” and an average price target of $55.69.
In other news, VP Donald E. Paulus sold 9,998 shares of Linear Technology Corp. stock in a transaction on Tuesday, October 25th. The stock was sold at an average price of $60.25, for a total transaction of $602,379.50. Following the transaction, the vice president now directly owns 113,013 shares in the company, valued at approximately $6,809,033.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Donald P. Zerio sold 2,126 shares of Linear Technology Corp. stock in a transaction on Wednesday, November 23rd. The shares were sold at an average price of $62.23, for a total value of $132,300.98. Following the transaction, the vice president now owns 77,172 shares in the company, valued at $4,802,413.56. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
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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