NEW YORK (TheStreet) -- Shares of Linear Technology (LLTC) were falling on heavy trading volume after hours on Tuesday as the company reported fiscal 2017 first-quarter results that missed Wall Street's expectations.
After today's market close, Linear posted earnings of 53 cents per diluted share, falling short of analysts' estimates by a penny.
Revenue came in at $373.9 million, below Wall Street's projected $377.6 million.
For the same period last year, the Milpitas, CA-based analog integrated circuits company earned 46 cents per share and $341.92 million in revenue.
Linear said it expects 2017 second-quarter revenue growth between 7% and 8.5% year-over-year, based on its current bookings rate.
More than 8.43 million of the company's shares changed hands so far today vs. its average 30-day volume of 1.75 million shares.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
The team rates Linear Technology as a Buy with a ratings score of A. The company's strengths can be seen in multiple areas, such as its solid stock price performance, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, good cash flow from operations and notable return on equity. The team feels its strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value.
You can view the full analysis from the report here: LLTC