UPDATE: BMO Capital Markets Raises PT to $32 on Linear Technology, Maintains Perform

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BMO Capital Markets reiterates its Perform rating on Linear Technology
LLTC
and raises its price target to $32 from $30 as the company comes off of a bottom. BMO Capital Markets says, "Linear reported FY2Q12 revenues of $294 million, down 11% q-q, and EPS of $0.38, roughly in line with our expectations. For FY3Q the company guided revenues to increase 4% to 8% q-q to $306-$318 million, above our expectation for growth of 3%. ...If our CY4Q numbers hold for the rest of the analog names in our coverage, LTC is coming off a huge underperformance at the top line in CY2011, as well as on a three-year CAGR (2009-2011) basis." LLTC closed at $33.32 yesterday.
Posted In: Price TargetReiterationIntraday UpdateMarketsAnalyst RatingsBMO Capital MarketsInformation TechnologySemiconductors
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