Nomura Securities Maintains a 'Neutral' on Linear Technology (LLTC); Weaker Demand is Negative Read-Through for TI

Nomura Securities maintains a 'Neutral' on Linear Technology (NASDAQ: LLTC).

Nomura analyst, Romit Shah, says, "Reported 2Q results and their September guidance looks much worse than expected. Revenue guidance for the Sep-Q is down 6–8% QoQ. This outlook is well below our estimate of 2% growth and normal seasonality of 3% growth (10-year median). The outlook reflects a destocking of excess inventory following the Japan quake and weaker demand in industrial and auto. This is a negative read-through for TI, where we expect more downward estimate revisions. We maintain a Neutral rating on Linear and a Reduce rating on TI (NYSE: TXN)."

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 $31.20 yesterday.

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