Linear Tech Reports Decent 1Q Results as ADI Merger Remains On Track; Maintain $60 FVE
Linear Technology reported decent fiscal first-quarter results and provided investors with a second-quarter outlook, which was relatively in line with our expectations and calls for minimal growth during the seasonally weak December quarter. More important, Linear’s merger with Analog Devices appears to remain on track, and accordingly, Linear’s management did not host a conference call in conjunction with its earnings report. We will maintain our $60 fair value estimate, which is still equal to...
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