Upgrade Alert for Linear Technology (LLTC)
Linear Technology (NASDAQ:LLTC) was upgraded from Underperform to Market Perform at Raymond James 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) defies analysts with a current price ($59.23) 28.7% above its average consensus price target of $42.25. The stock should find initial support at its 50-day moving average (MA) of $44.35 and further 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. The 200-day and 50-day moving averages have moved 0.04% higher and 0.17% higher over the past week, respectively.
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