Jefferies Group upgraded shares of Linear Technology Corp. (NASDAQ: LLTC) from a hold rating to a buy rating in a research report released on Thursday morning, TheFlyOnTheWall.com reports. Jefferies Group currently has $44.00 price objective on the stock, up from their previous price objective of $38.00.
“We believe that semis have entered the late innings of the cycle, and move to a Buy rating on LLTC. While we maintain our EPS estimates, we increase our P/E target based on the company’s high gross margins and high dividend payout (55-60%). We also expect higher growth from the company’s higher margin automotive and industrial businesses, and view our estimates as being conservative.,” the firm’s analyst wrote.
Jefferies Group has also modified their ratings on a number of other information technology stocks in the few days. The firm reiterated its hold rating on shares of Texas Instruments Incorporated. They have a $41.58 price target on that stock. Also, Jefferies Group reiterated its buy rating on shares of Micron Technology Inc.. They have a $21.00 price target on that stock. Finally, Jefferies Group upgraded shares of Analog Devices Inc. from a hold rating to a buy rating. Jefferies Group now has a $56.00 price target on that stock, up previously from $50.00.
Shares of Linear Technology Corp. (NASDAQ: LLTC) traded down 0.73% during mid-day trading on Thursday, hitting $39.61. Linear Technology Corp. has a 52 week low of $29.28 and a 52 week high of $39.92. The stock’s 50-day moving average is currently $37.10. The company has a market cap of $9.239 billion and a P/E ratio of 23.20.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a neutral rating on shares of Linear Technology Corp. in a research note to investors on Tuesday, July 2nd. They now have a $39.00 price target on the stock. Separately, analysts at BMO Capital Markets reiterated a market perform rating on shares of Linear Technology Corp. in a research note to investors on Wednesday, June 19th. They now have a $35.00 price target on the stock. Finally, analysts at Citigroup Inc. upgraded shares of Linear Technology Corp. from a sell rating to a neutral rating in a research note to investors on Wednesday, May 29th. They now have a $38.00 price target on the stock, up previously from $33.00.
Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $36.58.
Linear Technology Corporation (NASDAQ: LLTC) designs, manufactures and markets a line of linear analog integrated circuits for companies worldwide.
