Nomura Securities Maintains a 'Neutral' on Linear Technology (LLTC); Review of 3Q results

Nomura Securities maintains a 'Neutral' on Linear Technology (NASDAQ: LLTC), PT $35.

Nomura analyst, Romit Shah, says, "LLTC Reported revenue of $353mn and adjusted EPS of $0.55, which are more or less in line with our estimates of $353mn/$0.56. GM declined by 90bps due to lower sales volume. While estimates decline slightly, we believe Linear is being prudent in guiding below seasonality for June (+3% q/q versus seasonal average of +5%) to account for limited visibility post Japan. This should support the multiple, in our opinion. On slightly lower revenue and margin, we are lowering our EPS estimate for CY11 from $2.32 to $2.28. Our rev ests assume flat year-over-year growth in CY11."


For more ratings news on Linear Technology click here and for the rating history of Linear Technology click here.

Shares of Linear Technology closed at $34.53 yesterday.

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