Analyst: Linear Tech's outlook signals IC recovery

Dylan McGrath, EETimes
4/18/2012 2:21 PM EDT

SAN FRANCISCO—Wall Street analysts were lukewarm on Linear Technology Corp.'s stock following a quarterly report Tuesday (April 17) that came in in-line to slightly better than expectations. But one analyst said the company's better than expected guidance for the current quarter indicates that the semiconductor industry has begun to recover from its latest downturn.

Craig Berger, an analyst with FBR Capital Markets, said his firm was "apathetic" about Linear Tech's stock. In a report circulated Wednesday, Berger listed several semiconductor stocks that FBR finds more appealing, including Broadcom Corp., Qualcomm Inc., Atmel Corp., Maxim Integrated Products Inc., International Rectifier Corp. and Fairchild Semiconductor International Inc. Berger maintained FBR's "underperform" rating on Linear Tech's stock, increased his estimates for firm slightly and increased its price target to $31 from $30.

To read the full article, click here