February 22, 2008, 10:04 am
Linear: UBS Upgrades; Sees Market Share Gains Ahead
Posted by Eric Savitz
Linear Technology (LLTC) shares are higher this morning after UBS analyst Uche Orji raised his rating on the stock to Buy from Neutral. He keeps his price target on the stock at $33.
Orji offered three reasons for the upgrade:
- Sees LLTC among market share gainers in the analog market. He says other share gainers are Texas instruments (TXN) and Intersil (ISIL); he names Maxim (MXIM) and National Semi (NSM) as share losers.
- Despite macro economic issues, “industrial end markets remain strong,” with industrial about 48% of LLTC’s revenues.
- Trading at 15x next 12 months EPS estimates, versus average 25x over the last 5 years.
Linear today is up 44 cents, or 1.6%, at $27.70.
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Semtech (SMTC) is the best analog share gainer. Last quarter’s year over year (Y-Y) revenue changes
SMTC + 23.3 %
LLTC + 7.8 %
ISIL + 17. 4 %
NSM + 4.9 %
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February 22, 2008 at
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Tech Trader Daily is a blog on technology investing written from Palo Alto, California by long-time Barron's West Coast Editor Eric J. Savitz. The blog provides news, analysis and original reporting on events important to investors in software, hardware, the Internet, telecommunications and related fields.
