Barclays Capital analyst Tim Luke this morning cut his rating on Linear Technology (LLTC) to Equal Weight from Overweight, trimming his price target to $33, from $35. The move follows the company’s September quarter earnings report, which featured disappointing full-year guidance.
“Linear remains the higher end leader in the analog market with strong positions in key end markets of industrial, communications and auto, but with margins already at peak levels and sales growth likely to moderate for at least 2 quarters, we see solid valuation support but few catalysts to drive outperformance,” he writes in a research note.
LLTC today is down 2 cents, at $30.78.
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