UPDATE: FBR Capital Markets Reiterates Underperform Rating, Lowers PT on Linear Technology
In a report published Monday, FBR Capital Markets reiterated its Underperform rating on Linear Technology Corporation (NASDAQ: LLTC), but lowered its price target from $31.00 to $28.50.
FBR noted, “While Linear Technology is a fantastic and well-run chip firm with industry-high gross and operating margins, we believe that few operational improvement opportunities remain (a testament to management's execution), that margins cannot move much higher, and that the firm walks away from too much business (Apple, among others) in order to keep its margin structure intact. Further, we have heard of some macro-driven deterioration in industrial and defense shipments of late.”
Linear Technology Corporation closed on Friday at $30.10.
Latest Ratings for LLTC
|Jul 2015||BMO Capital||Maintains||Market Perform|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.