$LLTC (Linear Technology Corporation)

$LLTC {{ '2016-03-23T16:25:49+0000' | timeago}} • SEC

For 2Q16, $LLTC's GM rose to 75.7% vs. 75.4% in 2Q15. The rise in GM was mainly due to higher ASP, higher factory efficiencies, and favorable FX rates. This increase in GM was slightly offset due to spreading fixed costs over a lower revenue base.

$ADI {{ '2017-03-10T17:38:56+0000' | timeago}} • Announcement

$ADI said Robert Swanson, former Executive Chairman of $LLTC, has been elected to the $ADI BoD, effective immediately. As a result of the acquisition of $LLTC by $ADI, $LLTC's common shares have been delisted from the NASDAQ Global Select Market effective as of March 10, 2017.

$ADI {{ '2017-03-10T17:34:53+0000' | timeago}} • Announcement

$ADI has completed the acquisition of $LLTC. $ADI expects $LLTC to contribute $160-170MM in revenue to 2Q17. $ADI also sees its non-GAAP interest and other interest expense to be about $60MM in 2Q17, around $70MM in 3Q17, and approx $60MM per quarter thereafter.

$LLTC {{ '2017-01-17T22:27:50+0000' | timeago}} • Announcement

$LLTC BoD approved an increase in the company's quarterly dividend from $0.32 per share to $0.33 per share.  This dividend of $0.33 per share will be paid on March 7, 2017 to stockholders of record on Feb. 24, 2017.

$LLTC {{ '2017-01-17T22:27:04+0000' | timeago}} • Announcement

$LLTC's cash, cash equivalents and marketable securities rose by $88.7MM over 1Q17 to $1.61Bil. Additionally during 2Q17, the company generated positive cash flows from operations of $179.5MM or 48% of total revenues.

$LLTC {{ '2017-01-17T22:21:38+0000' | timeago}} • Announcement

Manufacturer of high performance linear integrated circuits $LLTC posted higher 2Q17 earnings, helped by higher revenue. Net income rose 2% for the quarter to $123.98MM, or $0.50 per share from $121.53MM, or $0.50 per share a year ago. Revenue rose 8.26% to $375.81MM. Excluding items, $LLTC earned $0.54 per share.

$ADI {{ '2016-12-07T12:38:19+0000' | timeago}} • Announcement

$ADI completed all necessary long-term debt financing arrangements in connection with its proposed acquisition of $LLTC. The acquisition is expected to close by end of 2Q17. This is being funded through combination of cash-on-hand, pre-payable term loans, senior long-term notes and newly-issued shares of $ADI's common stock.

$ADI {{ '2016-12-01T11:50:49+0000' | timeago}} • Announcement

$ADI priced an offering of $400MM of 2.5% senior unsecured notes due Dec. 5, 2021, $550MM of 3.125% senior unsecured notes due Dec. 5, 2023, $900MM of 3.5% senior unsecured notes due Dec. 5, 2026 and $250MM of 4.5% senior unsecured notes due Dec. 5, 2036. $ADI will use net proceeds to finance cash portion of its planned acquisition of $LLTC.

$ADI {{ '2016-10-20T15:38:18+0000' | timeago}} • Announcement

$ADI and $LLTC announced antitrust clearances in the U.S. and Germany In the U.S., the transaction has been cleared after the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act expired. The German Federal Cartel Office cleared the transaction on Oct. 11, 2016. The deal will close during calendar 1H17.

$LLTC {{ '2016-10-19T10:40:20+0000' | timeago}} • Announcement

$LLTC's stockholders approved the merger agreement to be acquired by $ADI. Stockholders also approved the election of the 7 $LLTC directors that were nominated for election and other proposals relating to the transaction. $LLTC and $ADI continue to expect the transaction to close in 1H17.

$LLTC {{ '2016-10-18T21:34:06+0000' | timeago}} • Announcement

$LLTC said the December quarter is typically a seasonally weaker quarter due to a slower European market and in particular a weaker Industrial market that historically results in sequential revenue decline. $LLTC sees relatively flat sequential revenue in 2Q17 representing a 7-8.5% growth range on YoverY basis.

$LLTC {{ '2016-10-18T21:32:00+0000' | timeago}} • Announcement

Circuit maker $LLTC reported a 2.7% rise in 1Q17 earnings driven by higher revenue. Results were impacted by merger-related charges associated with pending merger with $ADI. Net income rose to $115.12MM or $0.47 per share from $112.05MM or $0.46 per share last year. Revenues grew 9.4% to $373.9MM. Non-GAAP EPS increased to $0.53 from $0.46.

$LLTC {{ '2016-07-26T23:13:14+0000' | timeago}} • Announcement

Integrated circuits maker $LLTC, which agreed to be acquired by $ADI on Tuesday, reported 4Q16 earnings of $132.4MM, or $0.54 per share, compared with earnings of $132.7MM, or $0.54 per share a year ago. Revenue fell 1.5% to $373.8MM.

$ADI {{ '2016-07-26T20:17:36+0000' | timeago}} • Announcement

$ADI said it agreed to buy $LLTC. Credit Suisse is acting as exclusive financial advisor to $ADI, and Wachtell, Lipton, Rosen & Katz and Wilmer Cutler Pickering Hale and Dorr LLP are serving as its legal advisors. Qatalyst Partners is acting as exclusive financial advisor to $LLTC, and Jones Day is serving as its legal advisor.

$ADI {{ '2016-07-26T20:13:49+0000' | timeago}} • Announcement

$ADI said it agreed to buy $LLTC. $ADI plans to fund the transaction with about 58MM new shares of $ADI common stock, about $7.3Bil of new long-term debt, and the remainder from the combined company's balance sheet cash. This transaction has been unanimously approved by the BoD of both companies.

$ADI {{ '2016-07-26T20:10:33+0000' | timeago}} • Announcement

$ADI said it agreed to buy $LLTC. The transaction is expected to immediately add to $ADI's non-GAAP EPS and free cash flow. $ADI expects to achieve $150MM of annualized run-rate cost synergies within 18 months post transaction close.

$ADI {{ '2016-07-26T20:09:24+0000' | timeago}} • Announcement

$ADI said it agreed to buy $LLTC in a cash and stock transaction for about $60 per share, representing an equity value for $LLTC of about $14.8Bil. $LLTC shareholders will get $46 per share in cash and 0.2321 of a share of $ADI common stock for each share of $LLTC they hold at closing of the transaction, which is expected by end of calendar 1H17.

$LLTC {{ '2016-06-27T12:14:07+0000' | timeago}} • Announcement

$LLTC, an analog integrated circuits maker, said it unveiled the LT8304, a monolithic flyback regulator that simplifies the design of isolated DC/DC converters. The LT8304 operates over a 3V to 100V input voltage range, has a 2A/150V integrated DMOS power switch and delivers up to 24 watts of output power.

$LLTC {{ '2016-05-31T19:00:27+0000' | timeago}} • SEC

$LLTC said that its major uses of cash provided by operating activities of $510.1MM during 3Q16 were cash dividends of $225MM and $111.7MM to purchase 2.2MM shares of the company's common stock in the open market and 0.5MM shares to satisfy minimum statutory withholding requirements related to the vesting of employee restricted stock awards.

$LLTC {{ '2016-05-31T18:57:52+0000' | timeago}} • SEC

During 3Q16, $LLTC's provision for income taxes fell $3.6MM versus 3Q15, primarily due to a $10.4MM decrease in the income before income taxes. Excluding the effect of quarterly discrete tax adjustments, the company estimates that its annual effective income tax rate for FY16 will be in the range of 24.0-24.5%.

$LLTC {{ '2016-05-31T18:57:34+0000' | timeago}} • SEC

Maker of high-performance analog integrated circuits $LLTC said that 3Q16 R&D expense rose $2.5MM versus 3Q15. The increase was primarily due to a $0.8MM increase in labor costs as a result of increased headcount and merit compensation and a $1.0MM increase in stock compensation.

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