Nomura Securities Maintains a 'Neutral' on Linear Technology (LLTC); Reducing Estimates and PT Ahead of Earnings

Nomura Securities maintains a 'Neutral' on Linear Technology (NASDAQ: LLTC) price target cut from $32 to $27.

Nomura analyst, Romit Shah, said, "Industrial is a key concern as our research indicates that book-to-bill hovered around 0.8 in Sept, down from roughly 1.0 in June. We believe that comm infrastructure and networking also decelerated as the quarter progressed. Additionally, several analog companies indicate that distributors continue to reduce inventories. This may also weigh heavily on Linear. We are reducing our FQ2E EPS from $0.52 to $0.45, F12E estimate from $2.11 to $1.87 and F13E from $2.44 to $2.11."

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 $30.25 yesterday.

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