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Linear Technology (LLTC)
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Linear Technology (LLTC - Analyst Report) is a leading OEM of analog and mixed signal semiconductors. September quarter results missed the Zacks Consensus, as weak demand, unfavorable mix and a higher tax rate impacted results. Extreme caution regarding customers also led to a weak guidance.
Therefore, despite the strong business model, excellent products and ability to generate strong operating cash flows, we advise investors to avoid the shares, since we believe there is uncertainty in near-term demand. The high debt burden also increases risks.
We think the loss of the iPad business will continue to tell on sentiments. We are therefore reiterating our Underperform recommendation on the shares, as indicated by our $26 target price (14.9X P/E).
Linear Technology (LLTC) : FULL ANALYST REPORT
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