SeekingAlpha  Oct 15  Comment 
By SA Transcripts: Linear Technology Corporation (NASDAQ:LLTC) Q1 2015 Results Earnings Conference Call October 15, 2014, 11:30 AM ET Executives Paul Coghlan - CFO, VP of Finance and Secretary Bob Swanson - Executive Chairman ...
Benzinga  Oct 15  Comment 
Penford (NASDAQ: PENX) shares moved up 70.79% to $18.77. The volume of Penford shares traded was 1899% higher than normal. Ingredion (NYSE: INGR) announced its plans to buy Penford for about $340 million. Lakeland Industries (NASDAQ: LAKE)...
Benzinga  Oct 15  Comment 
In a report published Wednesday, Morgan Stanley analyst Craig Hettenbach reiterated an Overweight rating on Linear Technology Corporation (NASDAQ: LLTC), but removed the $48.00 price target. In the report, Morgan Stanley noted, “All eyes are...
Benzinga  Oct 15  Comment 
Shire plc (NASDAQ: SHPG) shares slipped 24.47% to $184.72 in pre-market trading as AbbVie (NYSE: ABBV) said it will reconsider its merger agreement due to proposed changes in tax regulations. American Airlines Group (NASDAQ: AAL) fell 4% to...
newratings.com  Oct 14  Comment 
MILPITAS (dpa-AFX) - Chip maker Linear Technology Corp (LLTC) Tuesday reported a 20 percent increase in first-quarter net earnings to $129.5 million or $0.53 per share from $107.9 million or $0.45 per share last year. Revenues for the quarter...
TheStreet.com  Oct 14  Comment 
NEW YORK (TheStreet) -- Linear Technology shares are down 2.64% to $38 in after-hours trading on Tuesdayaafter reporting first-quarter revenueaof $371.1 million, a 9% increase over the same period last year but short of analysts' expectations of...
SeekingAlpha  Oct 7  Comment 
By Quantified Alpha: Basic Earnings Info Linear Technology Corporation (NASDAQ:LLTC) reports earnings Thursday morning, with the Wall Street Consensus predicting $0.54 for EPS and $372 million in sales. This is an implied growth rate of 14.9%...
Jutia Group  Sep 26  Comment 
[Benzinga] - In a note released Friday morning, Morgan Stanley analyst Craig Hettenbach explained the reasons why Linear Technology Corporation (NASDAQ: LLTC ) was removed from the firm's Best Ideas List, despite having ... Read more on this. ...
Benzinga  Sep 26  Comment 
In a note released Friday morning, Morgan Stanley analyst Craig Hettenbach explained the reasons why Linear Technology Corporation (NASDAQ: LLTC) was removed from the firm's Best Ideas List, despite having its Overweight rating...
Forbes  Sep 25  Comment 
The most recent short interest data has been released by the NASDAQ for the 09/15/2014 settlement date, and we here at Dividend Channel like to sift through this fresh data and order the underlying components of the Nasdaq 100 by "days to cover."...


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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