Upcoming AWS Coverage on Life Storage Post-Earnings Results

LONDON, UK / ACCESSWIRE / January 23, 2017 / Active Wall St. announces its post-earnings coverage on Linear Technology Corp. (NASDAQ: LLTC). The Company posted its second fiscal 2017 results on January 17, 2017. The chip maker stated that due to the pending merger with Analog Devices, Inc., the Company expects this to be its final earnings release as an independent Company. On July 26, 2016, Analog Devices had announced that it will acquire Linear Technology, valuing the Company at $60.00 per share or approximately $14.8 billion. Register with us now for your free membership at:

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One of Linear Technology's competitors within the Semiconductor - Specialized space, Life Storage, Inc. (NYSE: LSI), announced on January 17, 2017, that it will issue its financial results for the quarter ended December 31, 2016 after the market closes on Wednesday, February 15, 2017. The Company will conduct a conference call to discuss operations and review financial results on Thursday, February 16, 2017 at 9:00 a.m. ET. AWS will be initiating a research report on Life Storage in the coming days.

Today, AWS is promoting its earnings coverage on LLTC; touching on LSI. Get our free coverage by signing up to:

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http://www.activewallst.com/registration-3/?symbol=LSI

Earnings Reviewed

For the quarter ended on January 01, 2017, Linear Technology reported revenues of $375.8 million, up 0.5% over Q1 FY17 revenue of $373.9 million and a gain of $28.7 million, or 8.3% over the $347.1 million reported in Q2 FY16. The Company's revenue came in above market forecasts of $373.9 million.

During Q2 FY17, Linear Technology's pro-forma gross margin was 76.3%, up 35 basis points from Q1 FY17. During the reported quarter, the Company's operating expenses of $113.8 million marginally increased 0.4% on a y-o-y basis. For Q2 FY17, Linear Technology's operating margin of 45.5% was 30 basis points up compared to Q1 FY17 operating margin of 45.2%.

During Q2 FY17, Linear Technology posted net income of $124.0 million, up 7.7% over Q1 FY17 net income of $115.1 million and increased $2.5 million, or 2.0% over Q2 FY16. The Company's diluted earnings per share of $0.50 per share in the reported quarter increased $0.03 per share, or 6% over the previous quarter and were unchanged from the year earlier same period. The results surpassed Wall Street's expectations for earnings of $0.53per share.

Cash Flow & Balance Sheet

As of January 01, 2017, Linear Technology's cash, cash equivalents, and marketable securities increased to $1.61 billion compared to cash, cash equivalents, and marketable securities of $1.45 billion as on July 03, 2016. During Q2 FY17, the Company generated positive cash flows from operations of $179.5 million, or 48% of total revenues. During the reported quarter, Linear Technology paid $78.7 million to shareholders in the form of dividends, representing $0.32 per share. The Company stated that there were no open market stock repurchases as the Analog Merger Agreement restricts the ability of the Company to repurchase shares of its common stock.

Linear Technology's Board of Directors approved an increase in the Company's quarterly dividend from $0.32 per share to $0.33 per share. This marked the 25th consecutive year the Company has increased its dividend. A cash dividend of $0.33 per share will be paid on March 07, 2017, to stockholders of record on February 24, 2017.

Stock Performance

Linear Technology's share price finished last Friday's trading session at $62.43, marginally up by 0.10%. A total volume of 1.32 million shares exchanged hands. The stock has surged 31.62% and 52.48% in the last six months and past twelve months, respectively. Furthermore, since the start of the year, shares of the Company have gained 0.13%. The stock is trading at a PE ratio of 30.77 and has a dividend yield of 2.05%. The Company has a market cap of $14.99 billion.

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SOURCE: Active Wall Street