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Linear Technology(LLTC - Get Report) designs, manufactures and markets a line of linear analog integrated circuits for companies worldwide. This stock is trading up 2.3% at $32.25 in recent trading.
Today's Volume: 1.95 million
Average Volume: 2.4 million
Volume % Change: 62%
Shares of LLTC are advancing modestly today after Piper Jaffray & Co. reiterated its overweight rating and $39 price target on the stock. Piper said, "We believe the company is seeing strength from the automotive, industrial, and server and networking end markets as well as its recent acquisition of Dust Networks."
From a technical perspective, LLTC is bouncing slightly higher today right near some previous support at $31.44 with decent volume. This stock is currently trading right between its 200-day moving average of $30.61 and its 50-day moving average of $33.31.
Traders should now look for long-biased trades once LLTC takes out some near-term overhead resistance at $32.50 with high-volume. Look for a sustained move and close over $32.50 with volume that's near or above 2,398,270 shares. If we get that action soon, look for LLTC to make a run at its 50-day or higher in the near future.
Linear Technology shows up on a recent list of
6 Tech Stocks That Rate Better Than Apple.