Jefferies Raises Numbers On Linear Technology (LLTC) After Solid Results

Jefferies raised estimates and its price target on Linear Technology (NASDAQ: LLTC) from $34 to $36 following results and guidance. The firm kept its Hold rating.

The analyst commented, "LLTC exceeded Street expectations in revenues by $1m. More importantly, LLTC guided MarQ revs to increase by 6% QoQ at the mid-pt, (330bps above consensus) and commented on improving booking trends in January. This is the first positive revision for a larger cap semiconductor stock in a while, and we view it as consistent with our view that semis should benefit from a restock in 1H12."

Q3 EPS goes from $0.43 to $0.44, FY12 from $1.81 to $1.83 and FY13 from $2.16 to $2.23.

For an analyst ratings summary and ratings history on Linear Technology click here. For more ratings news on Linear Technology click here.

Shares of Linear Technology closed at $33.32 yesterday.

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