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UPDATE: Citigroup Downgrades Linear Technology to Sell on Valuation

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UPDATE: Morgan Stanley Reiterates On Linear Technology Ahead Of Earnings Call

Citigroup reduced its rating on Linear Technology (NASDAQ: LLTC) from Neutral to Sell and maintained its $32 price target.

Citigroup commented, "[F]actors supporting our Sell thesis – 1) ISIL has chronically under-grown the analog market due to lack of smartphone/consumer exposure; 2) global deleveraging will likely limit ISM rebounds to 52-53, capping revenue upside for LLTC; and 3) longer-term margin pressures will potentially emerge because of increasingly sophisticated power management competitors."

Linear Technology closed at $34.46 on Wednesday.

Latest Ratings for LLTC

DateFirmActionFromTo
Dec 2014CitigroupMaintainsSell
Oct 2014ISI GroupUpgradesSellNeutral
Jul 2014NomuraMaintainsNeutral

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Posted-In: CitigroupAnalyst Color Downgrades Pre-Market Outlook Analyst Ratings

 

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