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Downgrade Alert for Linear Technology (LLTC)

By Amy Schwartz

Linear Technology (NASDAQ:LLTC) was downgraded from Overweight to Equal Weight at Morgan Stanley today. The stock closed yesterday at $59.23 on volume of 22.5 million shares, above average daily volume of 1.9 million.

Linear Technology (NASDAQ:LLTC) is currently priced 28.7% above its average consensus analyst price target of $42.25. The stock should discover initial support at its 50-day moving average (MA) of $44.35 and subsequent support at its 200-day MA of $42.66.

Linear Technology share prices have moved between a 52-week high of $64.42 and a 52-week low of $36.41 and closed yesterday at 63% above that low price at $59.23 per share. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.2%.

Linear Technology Corporation designs, manufactures, and markets a line of linear integrated circuits. The Company's products include high performance amplifiers, comparators, voltage references, monolithic filters, linear regulators, DC-DC converters, battery chargers, data converters, communications interface circuits, and RF signal conditioning circuits.

SmarTrend recommended that subscribers consider buying shares of Linear Technology on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $47.58. Since that recommendation, shares of Linear Technology have risen 31.4%. We continue to monitor LLTC for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades Linear Technology

Ticker(s): LLTC