Piper Jaffray Maintain Overweight Rating and $39 PT on Linear Technology

Piper Jaffray reiterates its Overweight rating and $39 price target on Linear Technology LLTC. In the report, Piper Jaffray writes, “Our price target to $39 based on 16x CY12E EPS of $2.45. Risk factors include overall cyclicality in the semiconductor industry, continued end-market demand and high valuation multiples relative to its peer group”. LLTC closed yesterday at $30.25.