Market Overview

UPDATE: Nomura Downgrades Linear Technology to Neutral on Valuation

Related LLTC
Earnings Scheduled For October 18, 2016
First Two Weeks Of October EPS Estimates All In One Place
Analog Devices, Linear Technology secure merger antitrust clearance in U.S. and Germany (Seeking Alpha)

Nomura lowered its rating on Linear Technology (NASDAQ: LLTC) from Buy to Neutral and reduced its price target from $34 to $29.

Nomura commented, "Linear has been a good stock over the past six months, outperforming the SOX by 12 points based on its variable cost structure, high ROIC and 3% dividend yield. Despite weak December guidance (down 5-10% QoQ), a snapback in sales is not on the horizon owing to weaker end-demand as it will be limited by unchanged channel inventories exiting December. We believe the stock is expensive at 18x our revised CY13 estimate, vs a three-year average of 15x."

Linear Technology closed at $32.22 on Wednesday.

Latest Ratings for LLTC

Oct 2016OppenheimerDowngradesOutperformPerform
Jul 2016JP MorganMaintainsNeutral
Jul 2016Goldman SachsMaintainsNeutral

View More Analyst Ratings for LLTC
View the Latest Analyst Ratings

Posted-In: NomuraAnalyst Color Downgrades Intraday Update Analyst Ratings


Related Articles (LLTC)

View Comments and Join the Discussion!