Linear Technology products include operational, instrumentation and audio amplifiers; voltage regulators, power management devices, DC-DC converters and voltage references; comparators; monolithic filters; communications interface circuits; one-chip data acquisition sub-systems; pulse-width modulators and sample-and-hold devices. (Company Press Release)
Industry:SEMI-GENERAL Sector: Computer and Technology Fiscal Year End:June Last Reported Quarter:03/31/12 Next EPS Date:07/24/12
Capital Structure Solvency and Cash Flow
Balance Sheet
Exiting 3Q11, the company’s cash, cash equivalents, and marketable securities balance were $810.5 million versus $748.2 in 2Q11. Accounts receivable were $162.4 million versus $180.7 in 2Q11. Inventories were $70.4 million versus $180.7 in 2Q11. Inventory turns dropped again to 4.5X from 5.1X in 2Q11. Days sales outstanding went down by 1 days to around 42 days.
Last edited Thu Jul 07, 2011 07:06 AM by SudiptaMukherjee (Zacks Investment Research)
Governance Social Responsibility and Employee Relations
• Risk from equity markets: The analysts value the stock at a significant premium to other chip stocks and believe Linear Technology is more susceptible to operational downturns in a business with short lead times.
• Risks to market share: Share loss to HPA and standard analog appears to be taking a toll on Linear Technology’s revenue growth.
• Excessive dependence on the ‘turns’ business: Linear Technology is seen as dependent upon the ‘turns’ business.
• Currency risk: The major portion of Linear Technology’s revenue comes from international markets, which are accompanied by risks of currency fluctuations, tariffs, trade barriers, and government regulations.
Last edited Thu Jul 07, 2011 07:07 AM by SudiptaMukherjee (Zacks Investment Research)
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