Wall Street Journal  Mar 10  Comment 
Linear makes the chips that power cars' systems, making it a good play on the move to smarter vehicles.
Benzinga  Jan 31  Comment 
In a report published Friday, Citi Investment Research analyst Terence Whalen analyzed specialty semiconductors and noted solid industrial exposure and limited smartphone exposure driving growth in 2014 for Linear Technology (NASDAQ: LLTC). ...
Benzinga  Jan 29  Comment 
In a report published Tuesday, Morgan Stanley Analyst Craig Hettenbach reiterated an Overweight rating and increased the Price Target on Linear Technology (NASDAQ: LLTC) to $54 from $47. Hettenbach anticipated Linear Technology to continue to gain...
SeekingAlpha  Jan 24  Comment 
By Markus Aarnio: In this article, I will feature one tech stock that has seen intensive insider selling during the last 30 days. Intensive insider selling can be defined by the following three criteria: The stock was sold by three or more...
StreetInsider.com  Jan 16  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Upgrades/Pacific+Crest+Upgrades+Linear+Technology+%28LLTC%29+to+Sector+Perform/9060845.html for the full story.
SeekingAlpha  Jan 15  Comment 
Linear Technology (LLTC) Q2 2014 Earnings Call January 15, 2014 11:30 am ET Executives Paul Coghlan - Chief Financial Officer, Principal Accounting Officer, Vice President of Finance and Secretary Lothar Maier - Chief Executive...
TheStreet.com  Jan 15  Comment 
NEW YORK (TheStreet) -- Linear Technology  was little changed over Wednesday, despite fulfilling earnings estimates. By early afternoon, shares had traced 0.56% higher to $45.44. After the bell Tuesday, the semiconductor manufacturer reported...
StreetInsider.com  Jan 14  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Dividends/Linear+Technology+Corp+%28LLTC%29+Raises+Quarterly+Dividend+3.8%25+to+%240.27%3B+2.4%25+Yield/9055365.html for the full story.
StreetInsider.com  Jan 14  Comment 
Visit StreetInsider.com at http://www.streetinsider.com/Earnings/Linear+Technology+Corp+%28LLTC%29+Misses+Q3+EPS+by+1c/9055355.html for the full story.
SeekingAlpha  Jan 14  Comment 
Linear Technology (LLTC) is set to release FQ2’2014 earnings after the market closes on Tuesday, January 14th. Linear Technology is an American multinational corporation that designs and manufactures analog integrated circuits for use in...


Linear is a high performance analog semiconductor company. Its products are instrumental in converting digital streams to analog waves and vise versa. People experience the world in analog waves (e.g. sound and light) and not in digital. So the digital revolution thereby increases the need to high performance analog conversion.

Linear also manufactures devices that are used in MP3 players, noise canceling headphones, instrumentation, automobiles, cell phones & cell base stations, and many other leeding edge applications. Devices include; high performance amplifiers, filters, ADC's, DAC's, voltage regulators (boost, buck, and various power devices), voltage references, intelligent battery chargers, battery monitors, high side current amplifiers, oscillators, comparators, RF devices, and many more.

Something that makes LLTC different is that most of the sales force are actually engineers- there are fewer analog engineers than digital engineers. So when they meet with a customer, the sales person can actually aid the process of creating a solution. A colorful anecdote occurred in the making of a camera that takes pictures, a feature that took a long time to come to fruition. The linear salesman was flying back from the meeting and trying to fall asleep but his mind was wondering about how to create a camera flash that could work with a cell phone. With eyes closed the plane passed through a series of clouds creating a strobe like flicker behind his eyelids. It was a eureka moment. When the plane landed, he had already worked up how to substitute a strobe light for a typical camera flash, and the camera phone came to life.

Sales are spread throughout the following industries:

  • Industrial 33%
  • Communications 33% (8% handsets, 10% base stations, 15% networking)
  • Computer 13%
  • Automotive 8%
  • High end consumer 9%
  • Military 4%

Military used to be a much higher percentage but opportunities to enrich features in other areas created significant growth.

Automobiles are of particular challenge. Most electronics work well when temperatures are steady, the machine is not bumped around, and there is no surge in electrical supply. In an automobile all of these harsh conditions exist. Linear's products are used for items such as: LED backlighting, adaptive cruise control, electronic steering and braking, and hybrid/electric car battery monitors. Cars are becoming electronic feature rich and it has been estimated that 40% of the cost of a car in 2010 will be for electronics.

Linear avoids making products that are commodities, and their gross margins are more like a software company than a semiconductor company.

The founder of the company, Mr. Swanson, stepped down as CEO in January of 2005 but continues to serve as Executive Chairman.

The company announced in Mid 2007, the authorization to repurchase $3 billion (approximately 30%) of the outstanding shares.

Linear Technology's competitors include: Analog Devices, Intersil, Maxim, Texas Instruments and National Semiconductor.


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